Financial advice has traditionally been a male-dominated environment but the number of women training to become advisers has increased sharply since 2011.
The ifs School of Finance reports that in 2010 women made up only 12 per cent of the total number of people studying for its diploma for financial advisers but by this year women now account for 22 per cent of the number of people enrolled in the course.
The ifs says it expects the proportion of women registering for the course to continue to increase and says this is evidence that financial advice is starting to appeal to people outside its traditional areas of recruitment.
Chief executive Anne Kiem says: “These figures show that the sector is becoming more appealing to people from different backgrounds. In the long term, an increasingly diverse and highly qualified workforce will ultimately be to the benefit of both the industry and the consumer seeking advice.”
AM Mortgage & Financial Services financial planning consultant Angela Melanophy says: “Having set up my own independent financial adviser practice nearly 15 years ago, with the specific service proposition of catering for female retail customers, it is especially pleasing to see these figures showing the increasing diversity of the sector.”