Since I began my career in the financial world in 1985, I have been an anomaly – as a professional woman. When I worked in Australia, I couldn’t compete with the male Business Development Managers who entertained the male advisers at strip clubs (nor did I want to).
When I began the financial planning business which is now Moneyworks in 1997, I was one of two women that I knew in the advisory eco system that I was working in. This has been slow to change, and I’ve adapted and done my own thing, and in many cases refused to buy in to the ‘establishment’ or ‘male dominated and oriented’ way of doing things.
In the last four years I have realised that the values and ethics that I hold, resonate with many people (and not just our female clients).
The series of articles on this topic is looking at the difference that women can make in the financial and business world by having a different perspective, bringing empathy and potentially wider worldview to investing and business. There is now empirical evidence that shows the diversity and equality adds value and can lead to better financial returns (ie it is not all just ‘woke-ness’.)
The three articles give you information on how female fund managers can increase returns and how having 30% or more women in senior management and on governance boards can increase the profit and therefore value/share price of companies. We also provide an overview of various initiatives and regulation that are seeing a gradual change.
However, (According to Fortune’s CEO Daily) the push for diversity on boards slowed during 2022 – with boards ‘gravitating back to the tried and true – new members who are ex -CEO’s and ex-CFO’s and therefore disproportionately white and male. But, the percentage of Fortune 500 board seats (as an indicator) increased to 31% from 30% during 2022.
