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Advice firms back govt gender diversity charter

Gender-Differences-Man-Woman-Inequality.jpgAdvice firms, including St James’s Place, are pledging their support to increasing gender diversity in financial services by signing up to a government charter.

The Treasury’s Women in Finance Charter now has 272 signatories, with 67 companies signing up between March and June.

Advice firms Ellis Davies Financial Planning, Magenta Financial Planning, Evolution Financial Planning and London-based firms Engage Financial Services and First Wealth have pledged support.

St James’s Place is also one of the advice firms to sign up.

The advice giant was met with criticism earlier this year when Money Marketing reported its 47 per cent pay gap in favour of its male employees.

The charter asks firms to commit to four industry actions to boost female talent to leadership roles.

Women facing 10% pension pot shortfall compared to men

They are: having one member of the senior executive team responsible for gender diversity and inclusion, setting internal targets for gender diversity in senior management, publishing annual progress against the targets online, ensuring the pay of the senior executive team is linked to delivering on the internal targets.

Treasury economic secretary John Glen says: “Too few women get to the top in financial services. That’s why it’s so important that firms sign our charter and commit publicly to take action. It’s not just the morally right thing to do; a balanced workforce is good for business, for customers, and for profitability.”

The investment firms signed up to the charter are Vanguard, Franklin Templeton, JP Morgan, Rathbones, Investec Asset Management, Brooks MacDonald, Kames Capital and Lazard Asset Management.

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