#IWD2022: We talk to Magenta’s Gretchen Betts about the role of women in financial planning and why it pays to just ‘be yourself’

by | Mar 8, 2022

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As part of our celebration of International Women’s Day (#IWD2022) we are shining the spotlight on just some of the women in leadership roles in the UK financial sector. In this article, we talk to Gretchen Betts, Managing Director at Financial Planning firm Magenta. Gretchen and her team are based in South Wales and are proud to fly the flag as financial planners who really put their clients’ needs first. Over to you Gretchen!

“I’m passionate in developing a more inclusive space for women in financial planning, both as financial planners and for clients . I believe financial planning is an amazing career for women. It’s a wonderful place to be, helping people, being empathetic to their concerns, solving problems, and sharing knowledge with those who need a guide and helping hand.

“Encouraging more young women to the financial planning profession is vital – because I see almost every day more women needing advice and who would prefer to speak to a woman, especially those who have been patronised, spoken down to or misjudged.

“This doesn’t mean all male planners don’t quite get how to work with women. I know many, many that do and do a great job. But the reality is that some situations that occur in life can trigger vulnerabilities that make women want to talk to other women – in particular, divorce and bereavement. Statistics available tell us that in these events most women want to deal with a female adviser. With over 40% of marriages ending in divorce and women living longer, many women will experience divorce and/ or widowhood.

“Sadly, I don’t think much has changed in terms of the gender gap over the 15-20 years I have been in the profession – it can still be an intimidating space to navigate. However, there are new initiatives springing up and I hope that the FCAs drive on inclusion and diversity will start to have an impact in the medium term.

“My words of wisdom to all women starting in this career is to find a home that will nurture you, be encouraging and allow you to be yourself. So often we feel pressure to fit into the ‘corporate style’ and ways of things, when I find you are better, braver and more successful if you can be your true self.

“Finally, embracing and embedding greater diversity and inclusion is vital for our profession to move forward. This is going to require all businesses to consciously engage with the idea of change and inclusion in their work place. We have to hire outside the traditional methods, consider minority groups and make good decisions for the benefit of business culture. We need to create safer environments for people and think about the benefits a broader section of society can bring to our quality of advice, innovation, and future businesses.”

 

About Gretchen Betts

Gretchen is Managing Director at Magenta Financial Planning, a Financial Planner & Financial Coach

She is a Certified Financial Planner, a Chartered Financial Planner and a Certified Financial Coach. She’s passionate about working closely with clients to understand what they really want from life and to help break down some of the barriers people have when talking about money.

She believes that financial planning isn’t just about the numbers, it’s about helping people understand what’s possible with the resources they have available and encouraging them to pursue their passions!

Gretchen’s podcast ‘Financial Changemakers’ is the perfect resource for anyone keen to develop their understanding of D&I matters. The first series is available on apple and spotify and this podcast is for those who are interested in learning about diversity and inclusion and are keen to embrace and make positive change in their life, business, management style or company ethos.  https://podcasts.apple.com/gb/podcast/financial-changemakers/id1547578595

 

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