St. James’s Place has revealed that more than 1,000 women are now working as financial advisers across its Partnership, marking a milestone announced ahead of International Women’s Day.

The wealth management firm said the figure comes at a time when women are expected to play an increasingly significant role in financial decision-making, with projections suggesting they will soon hold more than half of the UK’s wealth.

Despite this shift, female representation within the advice profession remains comparatively low. Women currently account for around 18% of regulated financial advisers in the UK, a proportion that has risen by just 2% since 2022.

At St. James’s Place, the share is slightly higher, with women making up around one in five advisers within its Partnership. However, the firm said there remains a need to increase representation more quickly across the industry.

The company argues that a profession that better reflects its client base can support more rounded advice conversations, helping advisers engage with a broader range of client perspectives and long-term financial planning needs.

EFFORTS TO IMPROVE REPRESENTATION

St. James’s Place said it is seeking to increase the number of women entering the profession through its Financial Adviser Academy. Currently, around 27% of participants in the programme are women.

The initiative is supported by the firm’s Female Advisory Board, which is made up of 20 senior advisers who provide guidance on improving representation and leadership opportunities within the business and the wider advice sector.

James Rainbow, ceo at St. James’s Place Wealth Management, said: “For many clients, seeing themselves in their adviser builds trust and connection in powerful ways. With over half of the UK’s wealth now in the hands of women, our profession must evolve to reflect the clients it serves.”

“Reaching 1,000 female advisers at SJP is a positive step. That’s one thousand professionals building practices, advising clients, growing businesses and shaping the culture of the industry from within. But while this milestone shows our momentum, it is not the endpoint.

“That’s why we are focusing heavily on this as a business. Creating more opportunities for female advisers to thrive is something I care deeply about because making financial advice more accessible is fundamental to our future prosperity as a nation.

“Becoming an adviser with St. James’s Place enables women the opportunity to build a fulfilling, long-term career, one with autonomy, flexibility and support.

“Through SJP’s Financial Adviser Academy, mentoring networks and strong Partnership culture, women are empowered to develop successful practices on their own terms, while making a meaningful different to their clients’ lives and financial futures.”

Carla Brown, ceo of Oakmere Wealth, an SJP Partner Practice, as well as president and chair of the Personal Finance Society, said: “As a female chartered financial planner and business owner, I have experienced the gender imbalance firsthand.

“That said, I have also seen how valued female advisers are by clients – many clients actively seek out female financial planners because they appreciate a different perspective and approach.”