Young Women in Wealth Masterclasses - encouraging diversity & inclusion in our industry
In November 2020 PIMFA, in partnership with the social mobility charity, The Brokerage, held the first in a series of online masterclasses designed to encourage young women and girls from a diverse range of backgrounds to consider a career in financial services and as part of our commitment to supporting greater diversity and inclusion across the industry.
Over 130 young women and girls registered for the masterclass to gain an insight into the profession and they heard from PIMFA chief executive Liz Field, Sarah Soar, chief executive of Hawksmoor Investment Management and Tracey Davidson, deputy chief executive of Handlesbanken UK, who all gave their insights into how the financial advice and wealth management sector had changed since they entered the industry, the highlights of working in the profession along with their advice for the next generation of talent.
Attendees also heard from female mentors including; Portia Wakefield, business analyst and Rebecca Pinchin project manager at Close Brothers; Gemma Farley, data and campaign manager at Openwork; Sandra Dailidyte, senior client manager at Brown Shipley and Lisa Ciccotto, head of HR business partnering and operations at Brooks Macdonald who shared their wealth management and financial advice career stories, how they’ve overcome hurdles and thrived.
At present, research from the Financial Conduct Authority (FCA) shows that diversity has remained consistently low in our industry at approximately 17% and that there is only 20% representation of women on executive committees and 23% on boards.
Among some of the issues discussed were the misconception that financial services is a male-only profession or the need to be very proficient at maths. They also discussed the need for a greater number of women to enter the profession from a range of backgrounds and future proof the industry with a diverse array of talent.
More Masterclasses to Come
This event was the first in a series of masterclasses PIMFA will be holding in partnership with The Brokerage over the coming months as part of its ongoing work to improve social mobility and diversity and inclusion with the aim of educating and inspiring young women to take their first step into the world of wealth management and financial advice.