HomeAdviser insights

Why we need more women financial advisers


ClearView Managing Director Nadine Gooderick spoke to risk specialist, Azaria Bell, about her experience as a young female adviser and why more women should consider a career in financial services.

NG: Women have traditionally been under-represented in financial services. Looking specifically at financial advice, women represent less than a quarter of financial advisers, according to the ASIC Financial Advisers Register. How can the industry foster greater diversity and inclusion?

AB: I think the industry can foster greater diversity and inclusion by better promoting the existing opportunities for women in advice and fostering new opportunities where possible. In my experience, our community is extremely welcoming, and keen to help women flourish in their careers. The financial planning industry is particularly good for scholarships, mentorship programs, education opportunities and even awards to recognise hard work.

There are many women out there who are passionate about personal finance but perhaps are intimidated by the barriers to enter the advice space. If we can spend more time promoting the rewarding qualities of this career and help them navigate the challenges, we could see a really diverse and inclusive workforce.

NG: Most kids don’t dream about becoming a financial adviser yet you knew quite early on that you wanted to be a financial adviser. What made you pursue a career in financial advice?

AB: When I started my university degree, I was unable to access HECS as I was not an Australian citizen. This meant I needed to pay my university fees upfront, which quickly forced me to learn about money management through books and YouTube videos. I found myself helping friends with their budgets and spending, and even started a YouTube channel to share my tips. I soon found out that helping people with money was a career in itself, and I was sold!

Once I’d entered the industry, I continued my passion for one-to-many financial education by hosting a podcast (Gen Z Money) and these days I try to post educational content on platforms like LinkedIn about insurance and personal finance to get people thinking.

NG: Why specialise in risk advice?

AB: I’ve always been a pretty risk adverse person. I never want to be in the position that an illness or injury prevents me from achieving my goals, or puts financial pressure on others. I took out personal insurance at 19 when working with an adviser where I got to see firsthand the value and importance of insurance, even for young people. Health stress is often unavoidable but financial stress can be prevented, and insurance is one way to do that.

When I was approached to complete my Professional Year with a risk-only business, I was initially fearful of making that jump into specialised advice. However I really aligned with the values of my boss Phil Thompson and the business he had built with Skye Wealth, particularly in making advice accessible to young people, so it was a great decision for me.

NG: Skye Wealth has a digital advice model. What do your clients like about your approach and value proposition?

AB: Our clients really appreciate that we meet them where they’re at. Many of them come to us after hearing us talk on a personal finance podcast and they want our help, but don’t want to spend an arm and a leg for financial advice, or have to take a day off work to go into an adviser’s office.

Clients like that they can meet with us via Zoom on their lunch break, complete forms on their laptop or phone, and know that our processes and technology are thorough and efficient to get them the results they need.

This document is prepared by ClearView Life Assurance Limited (ABN 12 000 021 581, AFSL 227682) (ClearView) and is intended only for advisers. The information is general in nature, it does not take into account your objectives, financial situation or needs. Before determining whether to apply for or hold the product(s) you should read the appropriate Product Disclosure Statement and consider the appropriateness of the product(s) to your circumstances. This information does not in any way constitute tax, legal or health advice. Before relying on this information, you should seek independent expert advice. Whilst ClearView have taken all care to ensure the information in this document is accurate and reliable, to the extent that law permits, ClearView, its directors, officers and employees do not make any representation as to the accuracy of any non-ClearView websites or articles referenced and excludes any liability to any person in relation to the document’s use or its content, including any modification, error or omission in the document however caused. ClearView can vary or withdraw this document at any time. To the full extent permitted by law, ClearView does not make any representation or warranty concerning or endorse any services or products provided by persons other than ClearView. You should always check with ClearView to confirm that this document is up to date. This document is current as at the date of publication.

You might also be interested in

Most injuries happen at home, not work
12 Mar, 2024

Most injuries happen at home, not work

The latest injury statistics are a stark reminder that accidents can happen anywhere, but are less likely to happen at work, making it critically important to hold comprehensive life insurance incl...Read more
What's driving the growing underinsurance problem in Australia?
8 Nov, 2023

What's driving the growing underinsurance problem in Australia?

A recent report from global consulting firm Deloitte has indicated that slow sales growth across the life insurance industry is leading to widespread ‘underinsurance’ in Australia, costing the publ...Read more
APRA's latest claims data - where do advisers add value
3 Nov, 2023

APRA's latest claims data - where do advisers add value

The latest claims and disputes data from APRA suggests that advised life insurance clients may have their claims accepted more often than non-advised customers.Read more