Ahead of International Women’s Day (IWD), St. James’s Place (SJP) has announced that more than 1,000 women are now working as financial advisers across its Partnership.
SJP reaches the milestone amid what is seen to be the largest wealth transfer to women in history, with women playing a more significant role in financial decision-making than ever before, and now projected to be holding over half of the UK’s wealth1.
While wealth dynamics are shifting, the advice profession has not evolved at the same pace. Women remain underrepresented across the sector, with just 18% of regulated financial advisers in the UK female - a figure that has increased by only 2% since 20222. While this number is slightly higher at SJP, where one in five of its advisers are female, there is a need to close the gap faster.
As women take on a greater share of financial decision-making, ensuring the advice profession reflects the clients it serves is increasingly important. Greater representation brings broader perspectives, supports deeper client conversations and enables more nuanced long-term planning. In turn, this helps strengthen relationships and improve financial outcomes.
With this in mind, SJP is accelerating its focus on increasing the number of women entering the profession through its Academy, where nearly one in three (27%) participants are women. This drive is supported by the guidance of its Female Advisory Board, made up of 20 senior advisers from across the business who are helping to shape SJP’s efforts to strengthen female representation and leadership both within SJP and across the advice industry.
James Rainbow, CEO St. James’s Place Wealth Management, said: “For many clients, seeing themselves in their adviser builds trust and connection in powerful ways. With over half of the UK’s wealth now in the hands of women, our profession must evolve to reflect the clients it serves.
“Reaching 1,000 female advisers at SJP is a positive step. That’s one thousand professionals building practices, advising clients, growing businesses and shaping the culture of the industry from within. But while this milestone shows our momentum, it is not the endpoint.
“That’s why we are focusing heavily on this as a business. Creating more opportunities for female advisers to thrive is something I care deeply about because making financial advice more accessible is fundamental to our future prosperity as a nation."
“Becoming an adviser with St. James’s Place enables women the opportunity to build a fulfilling, long-term career, one with autonomy, flexibility and support. Through SJP’s Financial Adviser Academy, mentoring networks and strong Partnership culture, women are empowered to develop successful practices on their own terms, while making a meaningful different to their clients’ lives and financial futures.”
Carla Brown, CEO of Oakmere Wealth, an SJP Partner Practice, as well as President and Chair of the Personal Finance Society, commented: “As a female chartered financial planner and business owner, I have experienced the gender imbalance firsthand. That said, I have also seen how valued female advisers are by clients – many clients actively seek out female financial planners because they appreciate a different perspective and approach.”
The SJP Financial Adviser Academy is holding a female focused event in London, 26th March, for women who might be open to a career in financial advice to learn more about the profession and meet members of the team. Further information about the event, including registration, is available here.
Notes to Editors
1 – According to the Consumer Duty Alliance
2 - FCA data, obtained by FT Adviser following Freedom of Information request
3 - Opinium surveyed just under 12,000 UK adults between May and August 2024. Quotas and post-weighting were applied to the sample to make the dataset representative of the UK adult population.