Upon joining Brewin Dolphin, I had the ability to work closer with female colleagues and begin to build my own book of clients. I quickly became interested in how underrepresented females are in the industry both as employees and as clients.
Confidence remains a barrier to entry for many women working in finance, whether that be the confidence to speak up in a meeting or put forward a contrary investment view. Confidence is also a major issue for female clients seeking to engage with finance professionals regarding their personal circumstances.
Cutting through the complexity and delivering a personal service goes to the heart of how we work with our clients. My advice for females interested in investing is that it is never too early or too late to make a financial plan and at 1762 we enjoy building lasting relationships with our clients, helping them towards a compelling and rewarding financial future.
Taking time to properly review your existing circumstances is the crucial first step. Consider your assets, liabilities, income and expenditure to get the full picture. Next, you should reflect on your goals and objectives over a variety of time frames. What is it that you want your money to achieve over the next 5 years, 10 years and further ahead? What are your priorities and ambitions?
Professionals are there to put your money to work towards your goals, to regularly review and adapt the plan when things change. Research shows that the overwhelming majority of financial advisers are male, however at 1762 from Brewin Dolphin we are actively increasing the number of female advisers and championing causes dedicated to improving diversity not only within our business but the wider industry. More female advisors mean different investment styles, different personalities, backgrounds and experience, all of which bring advantages.
Your adviser should have expertise in how best to structure your portfolios to make the most of your tax allowances, how to invest your capital in a diversified way across asset classes and geographies, and crucially, your adviser, should provide support to help you fight the behavioural biases we all suffer when it comes to our personal finances.
Ensuring you have easily accessible investments for short term needs is important, but to have the best opportunity to grow your wealth, you should consider committing capital over a longer-term time horizon. Investing over a sustained time period statistically reduces the variability of returns.
Women have more financial power than ever and it is important we continue to learn about their needs and preferences in order to provide better service. Female investors want their wealth to be intrinsically linked to their values, goals and priorities and I believe this approach fits well with the culture at 1762 from Brewin Dolphin where we lead with advice first.