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Ahead of International Women’s Day, Six Degrees’ co-Founder Katherine Waller spoke to the FT’s Alina Khan about inclusivity and diversity in the advice sector alongside Yasmina Siadatan, Chief Revenue Officer at Dynamic Planner
Click here to listen to the full podcast on the FT Adviser website.
HOW TO BOOST DIVERSITY IN THE ADVICE SECTOR
Since Katherine Waller first started in the industry, she has seen diversity of thought being appreciated a lot more: “If you go back to 2005 when I started, diversity of thought wasn’t a phrase that was thought about or used in the way it is today. It’s great to see the industry value the differences in thought between men and women, and people from diverse backgrounds, because this broadens the different conversations we can have with clients.”
Waller added that to get more women and younger people into the advice industry the sector needed to be more transparent of the different types of jobs available within it: “When I talk to graduates who are looking for a job, they look at finance as a whole rather than advice specifically and by virtue of that, it is difficult for those graduates to know which bit of advice they would enjoy and what they would be good at. As a starting point it’s about being more transparent about the jobs that are available and being explicit that relationship management and advice is something everybody can be good at.”
Six Degrees is predicated on purpose, and the importance of the purpose of wealth. Wealth is generally created by a family, so the strategy of wealth has to come back to the combined purpose of the family. If you engage both the right and left brain you get a much more cohesive, fruitful strategy that meets the purpose for everyone. Additionally, environment is hugely empowering for different people. Having a conversation around a kitchen table provides comfort and confidence. Finally, the guests also looked at how the advice space can attract more female advisers.
This insight is for information purposes and does not constitute financial advice, which should be based on your individual circumstances. The value of investments may go down as well as up and you may get back less than you invest. Past performance is not a reliable indicator of future performance. The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances. Please note that the Financial Conduct Authority (FCA) does not regulate some aspects of cash flow, estate or tax planning or trust advice.
