FSC launches guide to boost fund management gender diversity
The Financial Services Council (FSC) has launched a guidance note for asset and fund managers to help them improve gender balance in investment management teams.
Research found that firms with increased diversity had improved decision-making, innovation and financial performance.
In a 2017 paper by McKinsey & Company ‘Women Matter: Time to accelerate’, it found companies with the most women in executive committees had “a difference in return on equity of 47% between the companies with the most women on their executive committees and those with none, and a 55% difference in operating results”.
The FSC note provided policy recommendations, processes and approaches that organisations could consider in areas such as recruitment, sponsorship, mentorship as well as case studies.
This included identifying a gender-balanced list of candidates with a focus on their attributes and aptitude, utilising structured interviews to allow for a clearer comparison of responses and reduce unconscious bias. Firms could also support a variety of talent and diversity programs such as rotating graduate positions to include time spent with the investment team.
Sally Loane, FSC chief executive, said: “We know women are underrepresented in financial services generally, and in a variety of investment management related roles in particular, which is why we are proud to launch this guidance note.
“This is an invaluable fund manager resource which can benefit investment management teams as well as organisations more broadly.”
AUTHOR
Laura Dew
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
