As paraplanners, we have the power to directly influence financial outcomes that are better for women – whether we’re reviewing fact finds, drafting recommendations, or creating financial plans.

But are we truly creating plans for the individuals in front of us? Or are we unwittingly relying on conventional thinking and assumptions which are actually more likely to be rooted in men’s experiences rather than women’s?

It matters because, more often than not, women’s financial lives are very different to men’s. So to deliver genuinely effective financial planning, it’s important to understand the differences and how to adapt our approach.

A chance to challenge your thinking

In the recording of this online Assembly, host Sam Tonks invited Sam Secomb of Women’s Wealth and Susan Hope of Scottish Widows to explore how paraplanners can better understand and address the unique financial planning needs of women. During the session Sam, Susan and Sam discuss

– what makes women’s financial experience so different from men’s

– the real-world impact of the ‘parenthood penalty’ on long-term financial planning

– our assumptions about vulnerabilities, risk profiles and investment preferences

– practical strategies paraplanners can implement to better serve female clients

Useful links 

There are loads of links following this Assembly. First of all, once you’ve listened to this episode, make sure you tap the link to receive your CPD certificate: https://emails.scottishwidows.co.uk/womens-finances-webinar-CPD

You can also watch the Replay of this Assembly at Crowdcast: https://www.crowdcast.io/c/sk0o36kcb5fn or on Vimeo instead: https://vimeo.com/1096332315

There are a number of items of research referred to during this Assembly or which offer valuable background reading including:

Sam Secomb: Women’s career progression in the UK financial planning sector: https://bit.ly/4lckHFZ

Research from TISA that includes language around risk warnings: https://bit.ly/45qwoUU

Download Sam Secomb’s ‘Million Pound Difference’ case study here: https://bit.ly/4nfrwIy (opens PDF)

Plus there are some excellent stats and insights from Scottish Widows’s ‘Women & Retirement Report 2024’: https://bit.ly/449mKDZ

You’ll also find lots of valuable tools at Scottish Widows site including:

Beat the Gap tool: https://bit.ly/4n00oNE

The Pension Mirror: https://bit.ly/4ejrnju

Meet your future self: https://bit.ly/3HLSUhj

Plus Caroline Criado Perez’s fantastic Invisible Women was a must-read mention in the Chat.

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