The UK Personal Finance Society is getting behind a government initiative designed at boosting the proportion of women in financial services, and the advice profession has a duty to promote diversity within its own ranks, writes Keith Richards.
The numbers of women in financial services and the roles they play is a topic being focussed on by several sectors. The male dominance that has been a historical feature is slowly being addressed, though this has much to do with the way the sector is evolving more generally.
Take the advice profession for example
Here is the Personal Financial Society (PFS) split by gender:
- Female: 7,905 (22%)
- Male: 28,202 (78%)
However, the gender balance of paraplanning, now emerging as a profession within its own right, is the opposite of advice and is dominated by younger women. This is is also helping to reduce the average age profile across the broader financial planning profession. The PFS saw membership grow by over 1,000 new members last year with around 55% of new entrants under the age of 36.
[Source: City Wire - by Keith Richards - June 13, 2016]