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Why should women consider a career in advice?

Journalist: Rozi Jones, Financial Reporter

ended 09. March 2023

To mark International Women's Day on the 8th of March, we'd like to know why women should consider a career in advice, positive stories of career progression, and what more the financial services industry can do to make workplaces inclusive for everyone.

8 responses from the Newspage community

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Let's be candid about this - women are generally better than us men when it comes to nurturing, mentoring and supporting others in the family. Looking at all the mums, sisters and cousins around, it is no wonder, women generally bring a lot patience and the ability to multi-task to their everyday lives.

All of these skills are super vital when it comes to pursuing a career in advisory services. Women are born multi-taskers, advisors, mentors, and carers. They almost always make for great professionals too, unlike a lot of us men who juggle primarily a unidirectional professional life.

That said, being a woman isn't a free and automatic pass to becoming an advisor. There doesn't need to be a quota for these jobs, but women need to be strongly encouraged to pursue a career in an area that they are always comfortable in.
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I was a single mum at 17 and had left school with no qualifications and had no idea how I would get myself financially stable with no qualifications and no clear pathway into a career. Mortgage Advice for me has enabled me to provide for my children and give them a future I could only dream of whilst also juggling being a mum. With the right environment, women can thrive in this industry with or without background experience.
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The mortgage industry is still pretty male-dominated but there are many more women working in our sector than there were five or ten years ago. Our female staff like the idea of diversifying and empowering women to better understand the financial markets which historically they have been left out of. The mortgage industry in particular provides the opportunity for flexible working hours for modern living with the ability to generate a good income.
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Whilst we continue to make positive strides, the financial services industry has a long way to go to empower more women in their first step into a career in finance, but I truly believe it’s a place where they can thrive.

The progression of my own career was thanks to one of my first female role models: a Director in my first job. She was ahead of her time and would continually encourage me to step outside my comfort zone. The more I did, the more confident I became and was able climb the ladder using the values she instilled in me.

Women like her, in a boardroom full of men, have paved the way for women in finance today. And as we look to the next generation, we need more role models just like her - to provide the necessary tools young women need to feel confident, inspired and encouraged within their career.
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Financial advice is a challenging and rewarding profession for women that can also help them achieve financial independence. Women have valuable qualities such as empathy, intuition, and active listening, making them great financial advisors. The financial planning industry has more recently seen a positive trend of women occupying leadership positions and making a significant impact. At IQ, we have a balanced gender ratio, and I have been the CEO since the management buyout in 2018.
Whilst there is still work to be done, the industry supports women at every stage of their careers through networking groups, mentorship programs, and leadership training. The profession also offers flexibility, allowing you to work from home if desired.
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Women should absolutely consider a career in advice it’s a great career to have and although this has been an industry that has been largely dominated by men employers are very keen to diversify this. With most of the time being an advisor being desk based and a lot of companies allowing WFH this really is the perfect position too if you have young children and it works really well on maternity leave in comparison to more active roles. That is not to say being an advisor is an unsociable position, there are always property events going on around the UK and lenders wanting to meet up to discuss their offerings so lots of opportunity to mingle and meet new people whilst on the clock.
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As one woman in our company says:

Working for myself has been liberating.

Another commented that she became an adviser because she wanted to work for people. She went on to note that:

Being a self-employed adviser means… knowing each client is an individual. We’re their professional friend, their support. The one they turn to for solutions. They aren't aware they’ll get such special, individual, bespoke treatment, but we make the difference.

And she also points out that, for women coming into the industry today, it’s important to know that you need to be committed to your clients, you need to be responsible for what you do. You need to care about your clients in a holistic sense.
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Female influence is needed in our sector because powerful women empower women. Our influence and guidance can help other women bridge the investment gap which in tangible terms means that women have more freedom to make choices about their lives, careers and relationships, without having to rely on someone else. Financial parity is one of the biggest steps in achieving gender equality because it enables the most important outcome: choice. I’d encourage all women who are thinking about a career in financial advice to go for it, it’s a great career and you will be doing something great for our whole demographic. Each time one of us steps up to the plate, we open the door for more women to come in. The end goal can only be for that door to remain wide, and unapologetically, open.
Inclusivity comes from trust, respect and flexibility.