International Women’s Day: The rise in women in financial advising

In celebration of International Women’s Day, we highlight the story of Miriam Murphy, a former executive assistant who became a financial adviser through SJP’s Financial Adviser Academy. With one in four (19%) SJP Partners being women (the industry average is 18%¹), we explore the progress made and the challenges that lie ahead in achieving gender equality in financial services.

Miriam’s journey

Miriam’s career transformation began when her boss recognised her potential as a financial adviser. Miriam, who trained in psychology, had no background in finance, no experience other than what she’d absorbed through her role at SJP.

“I was initially surprised! I didn’t think I had the right attributes, but he pointed out my personal experience and my passion for helping people.” Miriam explained.

Feeling inspired, Miriam completed her exams, enrolled in the SJP Financial Adviser Academy while managing her family life. Now, just 18 months after completing the Academy, she heads up her own wealth management company. “If you said to me 10 years ago, this is where I'd be, I wouldn't have believed you,” she says.

Growing up in a single-parent household, there was little money to spare, though Miriam’s mum was a careful budgeter so she wanted for nothing. “But, as soon as I started working, I couldn't wait to spend – I lived the champagne lifestyle, except I didn’t have the money for it!”

“It was my SJP boss that first talked to me about getting a hold on my finances,” Miriam says. “Together we made a financial plan. I made changes – and those changes had a huge impact.”

That advice, and the choices she made, she says, made her the financial adviser she is today.

SJP’s Financial Adviser Academy

Miriam’s just one of the many women who have become financial advisers through the SJP Academy programme. Over a quarter (34%) of those currently training in the Academy are women – a significant statistic in an industry that is still predominantly male.

Gee Footit, Senior Manager, Recruitment Partnerships at the Academy, believes this is due to the positive action of the SJP Financial Adviser Academy becoming a hybrid national programme. She's responsible for proactively fostering commercial partnerships between the Academy and organisations with large talent pools, some with a focus on women.

“The Academy is pivotal in fostering diversity in financial advising.” she says. “We engage with a number of organisations such as Career Returners, Flexible Working People and Women, and Women in Banking and Finance to tap talent pools of women who could make great financial advisers. We hold regular female focused events to encourage more women to see financial advising as a rewarding career choice, whatever life stage or situation they’re at.”

Supporting women throughout their careers

Amanda Pistocchi, herself a former financial adviser, co-leads Unity, SJP’s gender equity network. Founded six years ago, Unity holds annual events, releases podcasts and publishes newsletters, creating virtual and face to face opportunities for female advisers to network and build community and culture.

Amanda, Executive Manager – Academy Development, heads one of the key initiatives supporting female Academy graduates like Miriam through their early years in the industry. Uniting Academy Women supports new women and allies of all genders, to help them navigate the world of financial services. “In terms of recruiting women to join financial services, I’m proud that SJP’s led from the front over the last couple of years.”

Gee reminds us. “The network exists to  grow confidence, resilience, and to learn from each other – peer to peer.”

Empathy and emotional intelligence – why women make good financial advisers

When it comes to talking about money, many women find it easier to speak to another woman. A recent Academy article on why women make great advisers highlighted women's often natural collaborative and relationship building skills.

Women advisers often have first hand experience of key milestones in a woman’s life – from navigating career changes and financial independence to managing relationships and major life transitions. 

So why aren’t there more women in financial services? Gee explains, "Historically, if you have caring responsibilities, you may find it more difficult to find a rewarding career that can flex around your family as well as you. In practice, ‘flexible working’ has often meant part time working, meaning you could take a step down in terms of your earning potential if you go back to work after raising a family." 

“The SJP Academy Financial Adviser training ticks a box for many women with ambition who earned a good salary before their career break. They’re still highly capable and able, they just need a little more flexibility. Financial advice is mentally and financially rewarding. It can flex around you and your family when needed, putting you back in control. “

SJP and International Women’s Day

The theme of this year’s International Women’s Day is ‘Accelerating Action’ – a call to address financial gaps and empower women in their financial journeys. 

To celebrate, we are hosting a virtual event centred around the theme of ‘Accelerating Action at SJP’, with our Chief Financial Officer Caroline Waddington, General Counsel Paul Loftus, Group Investment Officer Tom Beal and esteemed guest speaker and author Suzy Levy MBE, as we discuss how we can collectively take steps to advance parity and inclusion in the workplace. 
We’ll also be sharing stories from female employees and advisers at SJP like Miriam, that showcase how to accelerate action for yourself and others.

Miriam’s success story exemplifies the potential for women in financial advising. As she puts it, “It's the best thing I ever did. I get to work with and help people, every day. It's everything that I ever wanted.”

Financial advice for women isn’t simply about bridging the many financial gaps that still exist for women. It’s about empowering women themselves to control their own financial destiny.

Want to know more about becoming a financial adviser? 

Visit our SJP Financial Adviser Academy website to learn more.

Source

¹FT Adviser  - 20 February 2025