In response to Simon Chamberlain’s comments in the article, Thinc targets women in recruitment drive, I find it ironic to hear him saying he is starting a campaign to get women advisers to join Thinc and that “they tend to have the sensitivity and approachability needed for a career in financial planning”.
So if this is Thinc’s recruitment “flavour of the month”, I expect them to fail like other businesses before them. Developing a successful team of women advisers boils down to long-term culture not a strap line.
I know from experience (which is supported by a growing bank of research) that women generally need a different environment than men in order to flourish in business and especially a male bastion, such as finance. They don’t respond to the macho carrot and stick approach which is typical in firms such as Thinc because they do business in a different way and have different motivations. And they usually need more nurturing to overcome a lack of confidence early on.
Therefore, they take longer to produce the goods although if they get to this point they often excel.
Conversely, which is the more usual scenario in financial services, if they do not meet short-term business targets and are not supported in the right way, they think they are failing and leave.
Thinc had its chance based on an 18-year investment from me and my colleagues at Fiona Price & Partners. As far as I can tell, they blew it. But I would be happy for them to learn from the experience and prove me wrong.