Today, women across all industries are underrepresented and underpaid compared to men. It is a huge concern that women are still far from being afforded equal opportunities to take on leadership positions within financial services, and specifically within wealth management. Diversity in the workplace, in any form, can enable an optimal team culture while also increasing a business’ reputation.
Senior leaders, by definition, are always looking to enhance their firm’s core competencies, particularly when it comes to how prospective employees perceive the culture. The key to long term success is simple: invest in your people and the workplace culture. The first step towards achieving this is acknowledging the extent of the problem and taking the appropriate measures to re-mediate it.
To succeed in this competitive, disruptive environment, firms must fully embrace the move towards equality. The firms that lag behind will need to be more proactive in their efforts to empower future leaders of wealth management.