In Focus: Advice for Women  

Sian Fisher on her vision for the advice industry

Gender diversity

Fisher also spoke about the importance of continuing to build on the success of the Insuring Women's Futures campaign, which was sponsored by the CII.

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Launched in 2019, the initiative aims to help women build up their personal financial resilience as well as encourage financial services to think more creatively about how to help close the gender pension and protection gaps. 

"This isn't about apportioning blame," she said, "this is a journey everybody is on. A lot has been done to equalise the position between the genders, but the more we talk about the things that still are an issue, and the more openly we talk about them, the better."

She said while there will always be a tiny proportion of women in society who have immense wealth, factually and historically the majority of women have not engaged in financial services. 

"We cannot get away from the fact that... some of this is just access to knowledge and a lot of this is relevance.

"We all know from conversations about ethnicity and disability that if people do not see in front of them role models and people they feel they can relate to, all of these things can be off-putting, even if the person themselves is doing a great job."

Fisher encouraged companies to nudge their own staff to consider the make-up of their senior roles, explaining the financial impact on flexible working and creating policies around pensions during maternity, for example.

Another thing the IWF is aiming to do is to encourage companies to sign up to an inclusive customer pledge.

She said: "How are you, at the front end of your business, taking the customer's life circumstances into account, genuinely, when advice or product conversations are happening?

"Initially none of the big brands were comfortable about this, but it is clear this is happening now, if you look at the adverts from some large brands."

Fisher welcomed the rise of websites created specifically to encourage women's financial health, as well as in-depth financial discourse appearing in women's magazines, such as Red, which is all helping to educate women more about their wealth.

To watch the full interview, click the image above.

simoney.kyriakou@ft.com