The cute dog pic is just for attention as I forgot to take a photo!
Friday I attended Odyssey Pensions inheritance tax and pensions session with Jamie Murphy and Jim Cornock A well-presented session by both with a really useful q and a throughout, so thank you for the invitation.
I was surprised to be one of two women there out of around 30 attendees. The only other being Michelle from Odyssey, something the guys in the room hadn’t really noticed.
I had a great conversation with Jamie about this. He’d invited plenty of IFAs but they’d not attended. It was like stepping back in time to my time as a trainee Chartered Accountant.
It made me wonder if this was a financial services industry issue. So I did a bit of research and shockingly less than 20% of IFAs in the UK identify as female.
Then I wondered about the percentage of Chartered Accountants – not much better – around 30%. This drops further into mid teen numbers when you look at practice owners!
So what’s stopping women being successful in the higher paid roles in the financial industry? Do we still have a problem with “jobs for the boys” or do firms owners not adapt their firms to have the flexible working arrangements more commonly needed by women?
Interestingly we also had a conversation about trainees. At present, all our junior level trainees are male, something that’s never happened in the history of Wynne and co – I’ve often been accused of being “too feminist” in the past. By contrast Jamie said the bulk of his are female.
I do believe we have barriers to entry to the top level jobs for women in financial services – some around flexible working; also misogyny is unfortunately still alive and kicking. I also think women have difficulty with understanding the difference between arrogance and confidence and often under value themselves or have low self-worth.
It should be recognised that studies have shown that female leaders often contribute more collaborative, empathetic, risk-aware, and inclusive approaches, which can improve firm performance, culture, and innovation.
So come on girls we need to continue smashing through that glass ceiling! To male firm owners – accept the benefits that women can bring to your teams and spend a little time asking yourself what you can do to make jobs more accessible for them – it’s you who’s missing out on a significant talent pool!
As a women who has a business book for other women in draft I’m keen to know peoples thoughts on how we address this imbalance? And why you think it is?
Certainly I know both Jim and Jamie well enough to know they both see women on an equal level so this isn’t directed at them!