Ahead of the summit, Mortgage Choice’s executive manager, corporate communications, events and franchise marketing, Sally Chadwick, said that diversity, equity, and inclusion (DEI) is key to the long-term sustainability of organisations.
“As societies change and grow, so, too, do consumers’ values and preferences,” she told ifa.
“Today, consumers’ social values are increasingly shaping their purchasing decisions, and organisations that demonstrate their commitment to inclusive practises are more likely to build trust in the community and attract customers whose values reflect those of the organisation.”
Chadwick noted that, in order to encourage more organisations to take action on DEI, it was critical to showcase how DEI practises benefit workplace culture and business success.
However, the financial advice industry and the wider corporate sector is not always reflective of the diversity across the broader society in Australia, particularly when it comes to the representation of women.
Indeed, according to Adviser Ratings’ 2024 Q2 Database Report, little has changed in the gender make-up of the advice profession in the last five years, with female advisers making up 22 per cent of the profession, compared to 78 per cent male.
Similarly, in the mortgage broking industry, only 26.6 per cent (or 3,547) of the 19,872 brokers in Australia were women, according to the most recent edition of the Industry Intelligence Service Report released by broking association the Mortgage & Finance Association of Australia (MFAA).
“At Mortgage Choice, we believe the financial services industry should represent the communities it serves, and we’re passionate about increasing the representation of women in the mortgage broking industry,” Chadwick said.
In 2020, the major brokerage established its Aspire program, a talent-nurturing program that offers professional development opportunities, education and events designed to help women brokers build successful and fulfilling careers in the Mortgage Choice network.
Mortgage Choice has been the principal partner of the Women in Finance Awards since 2022 and also joined the Women in Finance Summit as the principal partner in 2023.
Commenting on the partnership, Chadwick said the major brokerage is thrilled to continue this partnership in 2024.
“Conferences like the Women in Finance Summit play a crucial role in fostering a sense of community in an industry like finance where women remain underrepresented,” she said.
“This summit creates a dedicated space for women to be inspired, connect with their peers and learn from the thought leaders and role models who are elevating the finance industry.”
The Women in Finance Summit 2024 will be held on Friday, 15 November at The Star, Sydney.
Click here to book tickets and don’t miss out!
For further information, including agenda and speakers, click here.
This summit is produced by Captivate Events. If you need help planning your next event, email director Jim Hall at jim@captivateevents.com.au
The AFA (now FAAA) went over and above for the last 20 years in the promotion,celebration and acknowledgement and recognition of female advisers.
In relation to recognition, the Female Adviser of The Year was entirely separate to Adviser of The Year.
There was never a category called Male Adviser of The Year as this would have been seen to have been inequitable and potentially sexist, which is entirely ridiculous based on having a Female adviser of The Year category !!
Whilst it is clearly understood why the promotion of female advisers is necessary in a predominantly male based industry, it is entirely inappropriate that the genders are segregated when it comes to recognition awards.
In conclusion, with the current abysmal state of Financial Services legislation and the incredible exposure and risk Advisers are faced with on a daily basis, it is easy to understand why very few people of either gender would elect to enter the Financial Advice business in it’s current form.
Mortgage choice who famously exited advice because it wasn’t profitable, has their star broker tell us how the “industry” (should be profession) should be?