Chief executive Simon Chamberlain says he is concerned with the wider industry’s preoccupation with bringing in graduates as new blood, many of whom he feels are not equipped with enough life skills and experience to be taken seriously by more sophisticated investors. He says women currently only make up around 5 per cent of the industry workforce but they hold about 60 per cent of the wealth in the UK. Chamberlain says a lot of people who have worked in accountancy and law firms are seeking new challenges and many, particularly women, might be looking for more flexible working hours and would do well to consider a move into financial services.
He says: “I am scared senseless about graduates entering the industry to give advice. I am starting a campaign this year for more people to join Thinc, particularly women.”
Chamberlain says the godmother to his children would have gone back to work but could not commit to inflexible and long working hours. He says the pressures of motherhood are often not conducive to a full-time office-bound job but by better take-up of technology and flexible client selection, people can work with a client base which is the right size, location and profile to suit them.
Thinc’s approach is that many advisers might join the industry in a transactional sector, eventually progressing to become a full wealth manager or holistic financial planner.
Chamberlain says: “There are plenty of women in their early thirties who may have given up work to start families who are then considering going back. We can offer them greater flexibility of working environment and they tend to have the sensitivity and approachability needed for a career in financial planning.”