Female financial advisers want more support
MLC has created a new program to help female financial advisers who say they want more support in the advice industry.
MLC research shows that female advisers want structured ongoing professional development together with mentoring and peer group interaction.
Interviews conducted with current and future female financial advice business owners showed they struggled with having a lack of female role models, a strong personal need for financial security, balancing work with family commitments and ensuring business continuity for clients and staff.
The interviews also concluded that while 96 per cent of women view being a financial adviser as a profession, only 17 per cent of Certified Financial Planners (CFP’s) in Australia are female.
“There is a huge opportunity for the industry to … encourage more women to take ownership roles within advice firms," according to MLC's adviser business centre national manager, Bob Neill.
MLC has created peer networking groups that will tackle some of the key barriers to ownership, Neill said.
Meanwhile, Neill said more than 40 per cent of MLC adviser scholarship program participants are female.
Recommended for you
As the year draws to a close, a new report has explored the key trends and areas of focus for financial advisers over the last 12 months.
Assured Support explores five tips to help financial advisers embed compliance into the heart of their business, with 2025 set to see further regulatory change.
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
