Why I’m happy to be outnumbered by women at work! - Financial advisers, investment, wealth management and pensions advice - Ginkgo Financial Ltd
November 11, 2024

Why I’m happy to be outnumbered by women at work!

60 per cent of the UK’s wealth will be in the hands of women by 2025. And yet the Personal Finance Society reports that still only 16 per cent of the UK’s advisers are female.

I am delighted to announce that Ginkgo’s very own Rachael Childs is this month joining me and Catriona Bryden on the Ginkgo advice team. Rachael came to Ginkgo as an administrator three years ago and has impressively juggled family, work and study to qualify as a Financial Adviser. Like Cat, who has won many hearts and minds in her first year on our advice team with her knowledge, patience and empathy, I’m sure that Rachael will be a great asset to our business. 

Having two female advisers in a team of three makes Ginkgo pretty unusual. According to the Centre for Economic and Business Research, 60 per cent of the UK’s wealth will be in the hands of women by 2025. And yet the Personal Finance Society reports that still, only 16 per cent of the UK’s advisers are female. It’s a trend that we’re very proud to be bucking. There are many reasons why women make fantastic financial advisers, including:

Emotional intelligence and empathy: Women tend to have high levels of emotional intelligence and empathy, which are essential components of communication, particularly around sensitive subjects such as money. You may need financial advice when you face a difficult life event, such as divorce or bereavement. Advisers need to be able to respond and react to their client’s needs – both emotional and financial – at these stressful times. Empathy is crucial.

A different approach to risk: It’s a generalisation to say that women approach risk differently to men, I know. Investment approaches and preferences will differ from person to person, and we carry out detailed risk profiles for that reason. But having female financial advisers enables our clients to access different perspectives and suggestions, which is important in achieving the best possible client outcome.

An ability to make people comfortable in sharing personal information: Honesty is crucial for a successful relationship between financial adviser and client. Particularly in cases of divorce or abuse, some female clients may feel more comfortable working with a female adviser. We tend to trust people that we can relate to, so having an adviser who is also a woman can provide some comfort in an unfamiliar environment and situation.

Excellent relationship and communication skills: Women are natural communicators, and good at building relationships with others, which is important in a role that's all about doing just that. Female advisers are often particularly clear and patient when explaining complicated concepts, and their clients see them as approachable and accessible. (Although I like to think that all Ginkgo advisers – male and female – tick this box!)
Women have always been at the heart of Ginkgo’s business. I founded and run the business alongside my wife, Debra. Our management and back-office team is bursting with smart and capable women. Around half of you – our wonderful clients – are women. Now, at last, our advice team is reflective of that. So this is one man who is happy to say he’s as outnumbered at work as he is at home…

If you’d like to chat with any of our advisers – female or male – then please get in touch

By Daren Wallbank

Approver Quilter Financial Services Limited & Quilter Mortgage Planning Limited 23/09/24

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