Wealth Professional talks to Christine Hornery of Financial Management Solutions about the importance of more women practicing financial advice, and why now more than ever women should be seeking financial advice.
Video transcript below:
Christine Hornery, Financial Management Solutions
If I have to sit in front of one more woman, that I can see we’ll have to lead a frugal life in retirement, then I believe that we haven’t done our job properly.
Now is a great time to get [into the] financial planning industry because it’s such an exciting time. We are actually going into what I call a new age, so it’s an age where women will, we want to attract more females into the profession as well as we want attract women to gain professional advice from women as well. There are quite a number of reasons why I believe women should pursue financial advising as a career path. It is so flexible within the work arrangements, you can actually work part time, work full time, you can actually even leave to have children, so you can also have your work life style balance. You have also the opportunity to control the level of income that you wish to receive. So the same old story is what you put in is what you get out.
Women I also believe bring another set of skills to financial advising, focused on more a relationship, that is how we actually even manage our own households. So everything is around relationships and project management, but we also bring empathy. Men are very good, they are very sympathetic, but women bring empathy. Through this awareness, we are also going to get information out to the general public that to take the services of financial advisors is probably something that even though they have been doing it really really well up until now, that perhaps they could just benefit by just some subtle changes to the plan that they have already in place.
It is time that we raised awareness about another issue, that is very dear to me and that is that people believe that retirement is all that they should be planning for, when in actual fact they should be planning for a lot more within their lives and they should actually have a strategic plan. The advice component that we offer and the strategies that we offer are a solution to them today and also a solution for them tomorrow that they can carry into retirement and beyond. My passion is to ensure that no female will ever retire without having financial freedom. They’ve got to remember that even though they are in a wonderful relationship and they plan to retire with someone, that they also need that financial independence themselves and that a man is not a plan and they should take responsibility.