"But the one thing we have not made any change to at all is the gender investment gap. If anything, our new investor data for 2020 suggests that we are going backwards."
She called on providers to "step up" and tackle this, not just to try and communicate better with female customers, but also to help women understand their risk profiles and the need for diversification.
Mackay added: “Women are also more likely to encounter the advice gap, since they are more likely than men to find the idea of financial advice appealing, and less inclined to go it alone.
“We need those different voices in the industry to help us innovate, transform and sustain. Ensuring we have equality of opportunity to provide that cognitive diversity, which is the lifeblood of our industry, is something we can all choose to challenge today.”
Enter our awards!
The FTAdviser Diversity In Finance Awards 2021 are now open for submissions, from individuals and companies who can demonstrate they have gone the extra mile in 2020 to improve diversity and inclusion and make their businesses better for clients, staff and the wider community.
For more information on the categories visit: FTAdviser Diversity In Finance Awards 2021.