Introducing women in the financial industry who are closing the gender pay gap

Even if one of the estimated 385,000 babies born today were lucky enough to live as long as the oldest person on record to walk this earth (at the ripe old age of 116 years) , Unfortunately, it is likely that they will not be able to see the man and woman alive yet. They are on equal footing in terms of economic participation.

In fact, the World Economic Forum's Global Gender Gap Report 2023 revealed that change is simply not happening fast enough, predicting that it will take 169 years to reach this important milestone. doing.

It's a gloomy outlook, but not entirely doom and gloom. Due in part to the uncertainty caused by the COVID-19 pandemic, more women are taking a keen interest in their finances and realizing the immense potential of the investment world, with the number of female investors increasing. is rapidly increasing.

“By becoming smart investors, women can ensure financial independence, break through social constraints, and contribute to a more inclusive and equal economic environment.”

– Anna-Sophie Hartvigsen

The resulting numbers are much more encouraging. The Boston Consulting Group predicts that women's wealth will increase by USD 5 trillion annually globally, while a McKinsey study shows that by 2030, women's wealth in Europe will increase by an estimated 2.7 percent per year, compared to an estimated 2.7 percent for men. We forecast that it could increase at a growth rate of 8.1 percent.

But deterrence remains aplenty. According to data from robo-platform Wealthify, 3 in 4 women, compared to 58% of men, feel nervous and lack confidence in building future wealth in a potentially highly lucrative field. I found that I was losing motivation.

A new generation of pioneers is helping overcome these obstacles. They promote the economic empowerment of other women by removing barriers that have long held them back and helping women advance in the traditionally male-dominated world of investing. That's what I'm aiming for. return.

We met three women determined to break down these barriers to help women find the courage to take the financial plunge.

dominic broadway

“Women are often intimidated by the market and the terminology, which can be very confusing,” says personal finance expert, founder of education platform Finances Demystified and author of Finances Demystified Mr. Broadway says, Determination of wealth.

“As women, we tend to wait for the 'perfect' time to do something or start investing, and that can sometimes hold us back. That's why I'm passionate about demystifying the world of investing and showing that it's not as complicated as it seems. ”

Broadway's own investing journey began when she was just 16 years old. “I realized early on that I didn’t want to trade my entire life for money,” she recalls.

“I was also very interested in learning how wealthy people made money and grew their money. This led me to start teaching myself the basics of investing.”

“We want women to have more flexibility and the power to generate their own income and wealth.”

– Dominic Broadway

Broadway is focused on helping women discover the freedom that investing can offer while mastering the often difficult balancing act.

“I want women to have more flexibility and the power to generate their own income and wealth,” she says. “Investing can be very beneficial for women as it can create additional wealth and income streams, giving them more time, freedom and flexibility to spend with their families.”

Now she is passing on her knowledge not only to women around the world, but also to her own children. It is a source of great pride for her to be able to start investing in her children from an early age.

Best Broadway advice?

“Pick a few companies you use or admire, choose an amount, and start investing. There's never been a better time than now,” she says.

Anna-Sophie Hartvigsen

Since Hartvigsen co-founded Female Invest with Emma Bitz and Camilla Crotta Falkenberg in 2017, the three have expanded their women-focused investment education platform to more than 100 countries and We've helped 100,000 women take charge of their finances.

“It is incredibly rewarding to witness countless women gain confidence, take control of their financial future, and build wealth through our programs and resources,” she says. Masu.

This was the path she decided to take when she started investing on her own and found the process complicated and overwhelming.

“As a woman, I often felt isolated in this male-dominated industry,” she reflects. “This personal struggle ignited my passion to break down barriers and demystify the world of finance for women around the world.”

Hartvigsen highlights that social norms, lack of representation, and lack of educational resources for women are factors that contribute to the gender gap in investing.

“Addressing these barriers requires dismantling stereotypes, fostering mentorship, and providing accessible, women-centered financial education,” she explains.

She believes investing is a powerful tool for economic empowerment, giving women a unique opportunity to close the gender wealth gap.

“By becoming smart investors, women can ensure financial independence, break through societal constraints, and contribute to a more inclusive and equal economic environment,” she says.

Hartwissen’s main advice?

“Value education and community. Knowledge is power, and being part of a supportive community will give you the encouragement and guidance you need to navigate financial complexities,” she says. Point out. “Start small, be patient, and remember that taking one step forward is a win. Together, we can redefine the investing landscape for women around the world. ”

simran kaur

Kaur, who became a billionaire at the age of 26, has already built a vast community of women around the world through her podcast. girls investingHe launched the project with his friend Sonya Gupta during the lockdown in March 2020, and later published a book of the same name in 2022.

“It's incredibly rewarding to see our listeners and followers transform from being hesitant about investing to having the confidence to make their first investment and grow their portfolio. ,” she says.

“This journey is not only about economic benefits, but also about fostering a supportive space where women can learn, share and grow together.”

“We recognize the challenges women face in the financial world, including the gender pay gap and longer life expectancies, and it is vitally important to us that we make the most of our financial resources.”

– Simran Kaur

This is a mission Kaur took on, recognizing the financial literacy gap, especially among women, and the lack of representation and resources tailored to them.

“This realization inspired me to embark on an investment journey, not just for personal growth, but to inspire other women by sharing knowledge and breaking down barriers in the investment world. It was about empowerment,” she reveals.

“By investing, women can take control of their financial future, increase their wealth and secure their livelihoods.”

In Kaul's view, other factors inhibiting women's use include a lack of tailored financial education options, lower risk tolerance due to societal conditions, and intimidating investment jargon.

“Furthermore, the historical exclusion of women from financial discussions and industries creates psychological barriers to entry,” she added.

“We recognize the challenges women face in the financial world, including the gender pay gap and longer life expectancies, so it’s important to us that we make the most of our financial resources.

“Helping other women succeed in investing means paving the way to a more equitable economic future for all of us.”

What is Kaul’s main advice?

“Start with education. Gain knowledge about the basics of investing, understand different types of investment vehicles, and learn how to evaluate risks and opportunities,” she says. “Don't be afraid to start small. The most important step is to get started. Seek out communities and resources that resonate with you, and remember that investing is a journey. Your confidence and portfolio will grow. It grows with time and experience.”