"I have had clients say to me that they don’t want to come across ‘stupid’. As far as I’m concerned there are no stupid questions."
She adds she has had female clients going through a divorce or dealing with the death of a spouse, who also need that softer, perhaps more empathetic approach that a woman who has experienced these events can bring to the client conversation.
Van der Meulen says: "It’s so important to have diversity in many forms. Sex, ethnicity, and background differences allow us to learn from each other and bring in experiences that are so important when advising."
Timothy James' Ayres agrees diversity is attractive: "Potential clients come from all walks of life and the more the advice industry reflects the wider population, the more likely you are to attract a mix of clients and talent.
"Women, in particular, face a combination of different pressures on their finances. These include the gender pay gap, gaps in working life due to children and inadequate retirement provision. In addition, women outlive men. Despite this, the percentage of women seeking advice is lower."
She says having advisers from different ethnic and cultural backgrounds also allows the industry to present a truer representation of the country.
According to Ayres: "A greater diversity of advisers may also improve understanding and experience into different cultures and their relationships with finances. This can only benefit and improve the advice given."
Benefit to the advice business
Diversity does not just benefit the client, but also the advice practice. According to Rogers: "It is important for advice firms to move with the times. The financial services industry is still very much male-dominated.
"I was the only female adviser at the two firms I previously worked for. It is also evident when attending seminars" – a point made earlier by Victor Sacks.
She continues: "Female advisers and those from an ethnic background add value to our society and we should be encouraging the next generation to consider advice as a career to even out the numbers and bring gender equality."
"Having women advisers and advisers from different ethnic backgrounds will bring badly needed diversification to the industry.
"Empowering women to be confident in their own ability to carry out any role by using their life experience, compassion and empathy to help clients of all backgrounds achieve their financial dreams will make our world a better place."
For Ayres, having a female adviser makes for a "compelling" business rationale.
She explains: "The balance of wealth is shifting. This is dubbed by some as the ‘great wealth transfer’. Prospective female clients may well be more attracted to a company that has a mix of financial advisers.
