Wealth and asset management chapter #INCLUDEDAWM

#includedAWM is an industry group operating within Wealth and Asset Management aiming to promote diversity and inclusion (“D&I”). It is focused on driving change to enhance diversity and support inclusion, where required, both within individual firms and across the wider Wealth and Asset Management industry.

The group has formed organically from a grass-roots level through a common agreement that many of the D&I related issues facing respective firms are farther reaching and industry related. The members of #includedAWM are employees of a range of different firms, job roles and experience across the Wealth and Asset Management industry, joined with a common desire to improve D&I.

#includedAWM aims to improve the diversity of talent applying to Wealth and Asset Management industry, with a particular focus on entry level and junior jobs. The representatives from member firms are working together to meet this goal. Within this broader objective, #includedAWM is looking to improve education around the industry, what it stands for and the fundamental role is plays in society. #includedAWM believes a sea change in the range of applicants applying for roles in the industry and a push to appeal to a more diverse demographic would be transformative to diversity in the industry.

We acknowledge that diversity is a challenge across businesses in the Asset and Wealth Management sector. However, we hope a focus on recruitment at the most junior level ensures that the whole industry will benefit in years to come from a more diverse workforce.

We have begun our journey to achieve these goals, by putting the following action:

• Group sponsorship – the member firms looks for opportunities where they can meet chapter #includedAWM goals through group sponsorship. By collaborating, a broader cross-section of society and be touched.
• Sharing best practice – the member firms are able to learn from each of the other firms about which D&I related initiatives or policies are working and feedback to their respective businesses. The representatives meet once a quarter, applying Chatham House rules to get the most out of the sessions.

Schroders – Policies and communication

Rathbones – Rathbones is offering financial education courses to women, young people and their staff.

LGT Wealth Management – Supporting the Women in Finance Charter

Please see some links to a variety of charities, recruitment site and financial inclusion related networks, charities or other entities which may be of interest:

Charities & Organisations

The Social Mobility Foundation – The Social Mobility Foundation (SMF) is a charity which aims to make a practical improvement in social mobility for young people from low-income backgrounds.

The Prince’s Trust – The Prince’s Trust is a youth charity that helps young people aged 11 to 30 get into jobs, education and training.

Investment 20/20 – Investment 20/20 is a careers site which provides information about the investment management industry and access to school leaver and graduate trainee programmes across our 42 partner companies

Women in Finance Charter – This is a commitment by HM Treasury and signatory firms to work together to build a more balanced and fair industry. Firms that sign up to this Charter are pledging to be the best businesses in the sector.

Charities & Organisations involved with financial inclusion

MoneyLens – Moneylens is a jargon-free website providing information on investing and money-saving to the latest tech and exciting start ups.

Kick Start Money – Twenty of Britain’s leading savings and investment firms have launched KickStart Money, a first-of-its-kind initiative that calls for effective financial education to become a compulsory element of the National Primary School Curriculum

Jargon Buster provided by PIMFA – The Personal Investment Management and Financial Advice Association (PIMFA) is the trade association for firms that provide investment management and financial advice to help individuals and families plan for their financial life journeys.

Recruitment firms involved with improving D&I in Wealth and Asset Management industry

Rare Recruitment –helping businesses, and governments, and as many professions as we can, to look more like the communities and the countries that they serve

2to3days – Championing flexible employment to encourage experienced mothers back into the workplace.

Articles and studies discussing D&I

Hacking Diversity Inclusive Decision Making White Paper, Cloverpop

Diversity Matters, McKinsey