Meet Marie, she’s our Wealth Relationship Director, who’s bucking the trend in the traditionally male sector of wealth management. Remember the days when the majority of financial advisers were men of a certain age wearing a pinstripe suit – well she definitely isn’t. Marie passionately believes women should be listened to and understood when it comes to financial advice.
Some of Marie’s female clients have come to her directly because they wanted a different approach. As Marie explains: ‘I’ve heard stories of women being ignored in meetings and not being directly asked questions. Too often advisers were guilty of overfocussing on the man when it came to talking to couples.’
‘There’s often an assumption that it’s the man that earns the money and is the breadwinner. In my experience regardless of who earns the money and who holds the assets it’s often the female, who manages the household finances. Having a view of both parties is really important’
Marie is well aware of US research which shows 70 to 80% of women leave their financial adviser when their husband passes away because they felt ignored and want a new supportive adviser. She wants to make sure all couples and women on their own receive the best financial advice available.
Women matter when it comes to financial decisions. Statistics tell us 80% of women will be solely responsible for their household finances at some point in their lives, just by a function of them living longer. By 2030 women will control two-thirds of household wealth and by 2025 53% of UK millionaires will be female. ‘I’m really excited and inspired by the female entrepreneurs I’m working with at the moment. It’s great to see more women starting successful businesses’.
At Cooper Parry Wealth all our advisers, male or female know that clients want to be listened to and be understood. We’re responding to our client demands and employing more female advisers. Research shows 70% of women who work with financial advisers prefer to have a female adviser yet in the UK only 15% of advisers are female – we’re changing that – women make up 54% of the CPW team!
Marie’s success in being promoted to Relationship Director at CPW will be an inspiration to the next generation of female financial advisers. She started at the grassroots, worked her way up from an admin role, through paraplanning and a manager’s role to Director level by working hard, passing exams, and developing her interpersonal skills. CP supported her through her studies and pushed her to develop and gave her opportunities to grow in a supportive environment.
Here at CPW we focus on our relationships with clients. As Marie says ‘it’s about working with that client, really understanding them, what their dreams are, aspirations and goals, supporting them through life’s journeys, some of the toughest times, and some of the best times.’
It’ll be a reassurance to women looking for financial advice that there are female advisers like Marie coming through in the sector. Finally, they will have access to more advisers who will understand and listen to them. If you’d like to hear Marie talk more on this subject you can view a podcast she took part in with The Financial Planner Life.
