The start of June brings with it the month-long celebration of the LGBTQ+ community, known as Pride. Pride is the perfect opportunity not just to celebrate, but also to reflect.
While the financial services profession is evolving, Pride month continues to be an important reminder that there’s always more progress to be made when it comes to LGBTQ+ representation and inclusion within our profession.
Today’s article discusses the importance of fostering an inclusive environment within the financial services, and the benefits that come from embracing diversity and encouraging LGBTQ+ representation – for both advisers and clients alike.
What is pride month?
Pride month is an annual celebration and commemoration of the LGBTQ+ community. It takes place in the month of June, to mark the anniversary of the Stonewall riots of 1969, which were important protests in the fight for gay rights.
It’s a month about acceptance, equality, and education, raising awareness around the struggles that still exist today for this community, as well as celebrating the progress that has been made.
Why is it important to have LGBTQ+ representation?
Great financial advice is, at its core, deeply personal. We’re in the business of changing lives, and it’s widely recognised that people are more likely to trust advisers who understand their personal journeys.
According to the most recent consensus, 1.5 million people in England and Wales identify as part of the LGBTQ+ community - that’s potentially over a million people looking for representation within the financial services profession (Statistica, 2024). To make financial advice accessible, we need to foster an environment that welcomes a diverse and inclusive advisers from all different backgrounds; when LGBTQ+ advisers are visible and supported, it builds trust, authenticity, and stronger client relationships.
Individuals from the LGBTQ+ community and minorities are also more likely to need bespoke financial advice. St. James’s Place Partner, Jamie Lowe, shares their thoughts on the matter below:
“Life is complicated enough especially when the legal system, financial world and healthcare system wasn’t built for our community. Luckily things are getting better, but typical lifestyle choices make us different. That’s where specialist financial advice comes in.”
Hear more from Jamie Lowe below:
What is the St. James’s Place Academy doing to encourage diversity and inclusion?
St. James’s Place Financial Adviser Academy is working to challenge outdated perceptions and build a more inclusive pipeline of future advisers. Since its launch, the Academy has supported over 1,300 individuals into advice roles and continues to attract candidates from all walks of life, including career changers, returners, and those who may never have previously considered a career in finance.
Our training programme encourages individuals to build on their sense of self as advisers, to offer personal, comprehensive and excellent financial advice to each and every client. Our employee-run SJPride community network gives people the opportunity to connect with others around the business.
Ultimately, St. James’s Place is passionate about creating a more diverse advice profession that raises the standard of service for everyone. With fresh perspectives, inclusive training, and a stronger focus on representation, the industry is taking meaningful steps toward a workforce that’s more diverse, more resilient, and far more accessible.
If you’re interested in learning more about the opportunity to join the St. James’s Place Academy, why not get in touch? Fill in our contact form now to start the conversation.