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Five female advisers on how they advise women

This article is part of
Guide to retaining intergenerational wealth

Five female advisers on how they advise women
Credit: Yan Krukov from Pexels

For many clients, ensuring that their spouse will be financially secure when they pass away is their top priority and one that advisers should bear in mind, says Gemma Harle, managing director at Quilter Financial Planning.

And according to national statistics, women are more likely to outlive men. But they are also more likely to look to their family for financial advice than an adviser, research from Canada Life found.

Two in five women (42 per cent) surveyed said they would approach their family for advice, followed by money advice websites (35 per cent) and financial advisers (27 per cent).

Women are likely to feel apprehensive about initially engaging with an adviser, says Sarah Roughsedge, founder of Eva Wealth Management for Women. “This hurdle is significantly lowered if they have been personally referred by someone they trust.

“Being a woman doesn’t require an approach in a particular way. However, being made to feel comfortable and that they are being listened to and understood will be key in creating the first impression and likelihood of that individual engaging with an adviser.”

Enabling financial independence

Not only is there an advice gap but a gender pension gap, too. On average, women who are in their 20s are on course to retire with £100,000 less in their pension pot than a man of the same age, according to a Scottish Widows report in 2020.

Stephanie Pickering, a chartered financial planner and founder of Verity Wealth Management, says that women may therefore be more concerned than men about having enough money in retirement.

“They often worry they have a far greater need to make up pension funding in later years, possibly due to broken or halted careers from raising their families. Some females are also facing a financial hit at the end of their careers, as they often take more time out to look after ageing relatives.”

Despite strides towards equality, with more women retaining their careers while raising a family, Francesca Smith, private office financial planner at Jarrovian Wealth, says households still often have a main breadwinner.

“Many female clients are looking to ensure that their money is working effectively for them and can provide a foundation for security, but also to enable independence. We are all becoming more aware that the state is unlikely to be able to support us sufficiently in our retirements, and therefore an even greater focus is being placed on building savings and ensuring that your money is working for you.”


Female financial planners grasp these hardships that women can face, says Gretchen Betts, managing director at Magenta Financial Planning. “Juggling busy lives, jobs and children, female-specific health, managing ageing generations of family and wanting security and flexibility when investing. We know about these needs because they are our needs too.”

The fact that female advisers face many of the same challenges and experiences, which differ from most men’s experiences, can improve relatability with clients, says Roughsedge, and can help to create a space where female clients feel comfortable to discuss topics they may otherwise feel too sensitive.