The Girls in Monetary Planning Mentoring Program has been deemed an impressive success by the mentors and mentees who participated within the initiative, in keeping with the Monetary Recommendation Affiliation Australia (FAAA).
Run by the FAAA by means of a $2.2 million grant from the Workplace for Girls within the Division of the Prime Minister and Cupboard, this system aimed to assist girls in monetary planning to additional their careers by matching eligible girls within the monetary recommendation occupation in search of steerage and assist with extra skilled feminine members.
The primary program paired 96 mentors and mentees from February to August 2022, whereas the second program paired 36 mentors and mentees from March to October this yr.
This system included:
- on-line coaching and studying supplies for mentors to assist information the mentoring relationship
- three webinars attended by mentors and mentees to trace progress throughout this system, and
- month-to-month contact between mentors and mentees all through this system.
One mentee stated: “This program has truthfully modified my profession path and helped me to develop and develop a lot greater than I anticipated. I obtained the assist that I wanted particularly from a feminine monetary adviser. I truthfully couldn’t suggest this system sufficient to those that are struggling.”
One other mentee famous of this system: “My mentor has allowed me to develop not solely my skilled talents but additionally my confidence and self-worth. She has offered me with nice sources and new views that may assist me for years to return.”
Resulting from an absence of funding, the Girls in Monetary Planning Mentoring Program might be discontinued in 2024.
FAAA Chief Government Officer Sarah Abood stated that this system has been extraordinarily profitable, and it’s disappointing that it can’t proceed subsequent yr.
“I’ve obtained overwhelmingly optimistic suggestions from each mentors and mentees saying they had been glad they participated in this system,” she stated.
“With girls solely accounting for round 22 per cent of economic planners and round 28 per cent of the FAAA membership, initiatives corresponding to this one are extremely essential to encourage extra girls to not solely think about monetary recommendation as a profession but additionally stay within the occupation as soon as they’re totally certified.
“As a occupation, it can be crucial that we characterize the neighborhood we serve, and this program exhibits that demand for feminine monetary advisers is powerful. We’d like extra of them coming into our occupation to assist guarantee we’ve got sufficient advisers to serve the wants of the rising variety of Australian shoppers in search of recommendation.”