This week, I had the pleasure of hosting a panel discussion with an inspiring group of leaders in the fintech space for International Women’s Day. On the panel was Felicia Hjertman, Founder and CEO of Tillit, Natasha Jones from Octopus Ventures, Ruth Handcock, CEO of Octopus Investments, and Margot de Broglie, Co-founder of Your Juno.
The topic of the discussion was “powering investments for all,” which led us to talk about the innovation that’s driving inclusion in financial services, how we can encourage more women and minorities to invest, and why we don’t need another pink investing app…
We looked at the current state of financial services for women – where a shocking 73% of asset managers state that their organisation’s investments products are primarily aimed at men – and what can be done going forward to bridge the gender investing gap.
It was a super educational and empowering discussion that spoke to all ends of the wealth spectrum – from the importance of financial wellness to the effect of gender imbalance on the wealth industry. If you missed the talk, you can watch it back here.
Empowering women: why wealth matters
Did you know that if women invested at the same rate of men, there would be over £3.22 trillion of assets under management from private individuals today?
While this is a shocking statistic, it doesn’t quite cut to the crux of the issue – what money actually means to women. Wealth matters because it provides us with confidence, freedom and opportunities. It helps us achieve our life goals and become more resilient to life’s changes and challenges – whether that’s moving home, starting a family or launching a business.
But the issue of gender exclusion is real. As Margot from Your Juno pointed out, 73% of financial articles targeting men focus on growing their wealth, whereas 90% of articles aimed at women focus on spending less. Anyone who’s ever been left out of a male-dominated investing discussion at a dinner party will know what she means!
As a consumer group, women just aren’t front of mind when it comes to advertising and selling financial products, which means they don’t necessarily have access to the same information or technology as men and aren’t equipped to get the most out of their money.
As Felicia from Tillit (who we’re proud to be working with) put it, “financial inclusion is about firstly, understanding how to make the most out of your money, and secondly, having the ability to access those tools and technologies.” But how do we achieve this when the odds seem stacked against us?
We don’t need another pink investing app – but what do we need?
The panel discussed everything from financial confidence and community, to building financial products that speak to underserved demographics.
The group also provided some fantastic advice for women wanting to improve their financial wellbeing and build their wealth – including hosting a dinner party where the only topic of conversation is money and finance.
I won’t spoil the entire talk for you, as I’m sure you’ll want to watch it for yourself – which you can do here.
If you have any questions or thoughts you’d like to share after watching it, please do reach out. Otherwise – happy saving and investing, ladies! And don’t forget to book in those dinner parties :)