S2E3: It's About The Right Advice (59:39)

Did you know that fewer than 25% of financial advisers in Australia are women? This conversation with financial adviser Trish Gregory explores the challenges and opportunities in the financial advice industry, particularly for women both as professionals and clients.

It highlights the need for good financial advice and the barriers that make it seem out of reach for many people. The conversation also touches on the importance of finding the right financial adviser and the value of personalised advice, the lack of diversity in the industry, the need for systemic change to make it better, and why women need to be included in policy and product development to ensure their financial security.

About Trish

Trish is a CFP® certified millennial financial adviser with more than 7 years of formal experience, a Masters Degree, three school-aged children and a military veteran partner. With an abundance of life experience prior to commencing her financial planning career, Trish intimately understands the challenges the younger generation face which can thwart their financial goals. Having previously worked in a more ‘traditional’ advice role supporting pre-retirees and retirees as well as clients holding a Defined Benefit pension, she now spends her days in the weeds of budgets, projections, goal planning and trade-off conversations with Millennials and Gen Z.  

Trish is a strong believer in supporting women to enter and grow in the financial planning profession and knows that systemic change is needed before we’ll reach gender parity. 

 

Takeaways

• Getting good financial advice can make a big difference throughout our lives and especially in retirement.
• Finding the right financial adviser is crucial for a successful financial journey.
• There are increasing numbers of women who are challenging the traditional stereotype of the financial adviser but the financial advice industry needs more diversity and systemic change to better serve women.
• More education and accessibility are needed to make financial advice more understandable and affordable.
• In male-dominated professions, the lack of parental leave and childcare options is a significant issue for women. Providing childcare at conferences is a key element to enable women to continue their professional development and networking.
• Unconscious bias in the advice provided to women clients is a problem in the financial services industry.
• The gender pay gap in the financial services industry is a significant issue that needs to be addressed.
• Women need to be included in policy and product development to ensure their financial security.

 

Disclaimer

It's Not About The Money provides factual information only and is not intended to be financial advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, legislation can change from time to time and we are not liable for any loss arising from reliance on this information, including reliance on information that is no longer current.  We recommend that you seek appropriate professional advice before making any financial decisions.