Saltus launches diversity committee to boost intake

Saltus launches diversity committee to boost intake
Megan Jenkins, partner at Saltus

Wealth management and advisory firm Saltus has created a diversity committee to help it attract and retain a wider pool of talent as it continues its growth drive.

Speaking to FTAdviser, company partner Megan Jenkins, who is chairperson of the new diversity committee, said Saltus had created a diversity committee to help steer the company's recruitment and retention strategy.

It launched formally in 2022 and although it is in its "infancy" the company has plans to broaden ideas out across the company, according to Jenkins, who also helps to manage the graduate programme.

She said: "We have been starting to do research and build a reference document, thinking about our vision and strategy and how to achieve greater diversity and inclusion."

The rationale is clear for the company: to boost diversity and inclusion to improve colleagues' working lives, broaden their client service and feed into Saltus' growth strategy.

Jenkins explained: "We are a small business and while we won't change the world, it is important for us to change our world, and that is what we are doing. 

"Our wider growth strategy is acquiring like-minded businesses and thinking about the culture of those firms. We are keen on being a more diverse company that can attract more diverse companies in terms of our own merger and acquisition activity." 

To start with, however, the company has had to look at its own processes in terms of culture and candidate recruitment.

Jenkins said: "The big stand-out at the moment is in recruitment, and our research so far has fed into the Saltus Academy that we run for graduates."

This means the company has focused on editing its job adverts and thinking how it can attract a more diverse pool of candidates.

Jenkins said: "We have seen great success over the past few weeks, with a good, broader range of candidates coming to our assessment days."

Jenkins noted that there are still few female financial advisers in the UK - there are still less than 20 per cent, she said, adding that the company was determined to work differently to help boost diversity.

"Naturally I am passionate about this. I want to bring more female and young and diverse talent into the industry."

She said: "In the past, we have not seen broad range of candidates coming through but recently we have definitely noticed a difference in how we engage with graduates and how we deliver the message."

While the company has not done apprenticeships yet, it is something Saltus will consider as it grows, but it is looking at internships and getting their advisers involved in the Personal Finance Society's schools programme this year.

"There is so much we want too but we need to start slowly and understand what we need to put in place now", Jenkins added.