July 23rd, 2019
Helping fight the diversity battle in financial services
Historically, financial services firms had a reputation for being a little stuffy, only available to more affluent individuals and for their advisers being a member of the pin stripe suit brigade. Historically, there was also a lack of transparency regarding commission and fees payable by clients and how these payments would be made, and advice tended to be transactional with a lack of focus on client’s existing policies being reviewed to ensure ongoing suitability.
There have been a number of changes instigated by the government, the Financial Conduct Authority and its predecessor during the last 10 to 15 years to address some of these concerns and in March 2016, HM Treasury got involved too by publishing the Women in Finance Charter as “a pledge for gender balance across financial services”.
The Charter “reflects the government’s aspiration to see gender balance at all levels across financial services firms. A balanced workforce is good for business – it is good for customers, for profitability and workplace culture, and is increasingly attractive for investors.”
- commits firms to supporting the progression of women into senior roles in the financial services sector by focusing on the executive pipeline and the mid-tier level;
- recognises the diversity of the sector and that firms will have different starting points – each firm should therefore set its own targets and implement the right strategy for their organisation;
- requires firms to publicly report on progress to deliver against these internal targets to support the transparency and accountability needed to drive change.”
Prosser Knowles has always sought to be as diverse as possible and to help existing team members progress within the industry. One of the longest serving members of the team, Kay Crooke – Associate Practice Director, has worked her way up through the ranks and is now one of two women on the Senior Management Team.
Additionally, we are lucky enough to have a number of male and female advisers and administrative staff of all different ages, experience levels and specialities, meaning that our team can and have seen clients into retirement and beyond.
We believe that this should be a financial partnership for life and are structured to deliver on this philosophy. At Prosser Knowles we’ve always realised the importance of offering regular reviews to our clients to make sure our advice is not only up to date but that solutions continue to meet client needs and expectations. Furthermore, we have a proactive leadership team that always strive to stay ahead of the curve when it comes to changes in the industry and regulation, helping us to provide a transparent and modern service for our clients.
To find out more about our team, please click here.
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