Women giving financial advice

Four Oaks Financial Services Limited

The women giving financial advice at Four Oaks Financial Services are an asset to our team. This blog has been written by two of our very experienced Financial Advisers, Karen Hagan and Sue Cassar.

Nick Murray in his book “The Excellent Investment Adviser”, published in 1996, said:

“The rise of women is, in my judgement, the single best thing that has happened in the financial services industry since I entered it, nearly 30 years ago.  Women have made the business not merely better, but finer”.

Naturally we agree!

24 years later, given the strange times we are living in, we believe his comments have a greater resonance now – and here’s why…

Owing to Coronavirus we are facing unprecedented challenges.  Employees are being ‘furloughed’. People are losing their jobs. Businesses are losing their hard fought-for contracts and hard-won clients. Some businesses are having to close. The self-employed and small business owners are struggling with lost income and revenue.

Even During Lockdown We're Here To Help

We are home working; on lockdown but are still here to help. We are women providing financial advice to our existing clients and we are being contacted by prospective clients, many of whom are women who need our help, right now at this difficult time.

We believe it is very important to acknowledge all the issues people are grappling with and to understand the problems facing our clients at this time. As women giving financial advice we feel that an empathetic, listening approach is needed and; because we are women, we have a heightened ability to empathise and listen.

Us ladies, I think it would be fair to say, have taken a more ‘softly, softly’ approach to financial planning and when it comes to financial products – our approach has historically come more from an ‘advisory’ stance than a ‘hard-sell’ one.  We are keen to be viewed as helpful, not pushy.  In actual fact, given the crisis we all now find ourselves in, we are wondering if that has been the right approach. Should we have been more assertive in our conversations with people…perhaps this could have resulted in them being in a better position during this pandemic than they are now?  Perhaps we could have encouraged them to build a bigger emergency fund; take out Income Protection; save more in an ISA or a pension, which if they are over 55 they could draw upon if they really needed to.

On a positive note we’d like to suggest that our ability to self-reflect is an extremely important attribute.  We would also add that many women are at the forefront of financial services, leading the drive to improve and demonstrating innovation and ambition.

The Skills & Qualities Of A Financial Adviser

Let’s focus on the excellent skills that all advisers have in common:

• Trust
• Integrity
• Professionalism
• Knowledge

Added to the skills above could be the following qualities we think potential clients would do well to consider when choosing their financial adviser.

• Listening skills
• Caring
• Understanding what’s important to you
• Passionate about your wellbeing
• Empathy

Women have these skills in ABUNDANCE!

So if you are looking for a Financial Adviser who listens and cares about YOU then hopefully we have encouraged you to think about engaging the help of a Female Financial Adviser!

The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested.

Karen Hagan & Susan Cassar
Four Oaks Financial Services Limited