Path to Empowerment: the importance of inclusion and recognition

At MPowered Mortgages, we believe that a business where women are given the tools and support to thrive is a business that will progress and develop quickly. Launched in 2018, the Financial Reporter Women's Recognition Awards aim to support the ever-growing momentum behind improving diversity and equality across the financial services community, something we are also striving for.

We spoke to previous winners of the FRWRAs about the importance of such recognition, and the ways in which they believe the sector can keep moving forward in terms of equality and inclusion.

“Why do you believe the FRWRAs are important?”

As a winner of this award and, more recently, a judge, I get asked this question often — I hasten to add, mostly by my male peers. Our industry is still very much driven by our male counterparts, and until we achieve a more balanced 50/50 representation, the need to recognise the accomplishments, inspiration, initiatives, and creativity driven by women in this arena will continue. The importance of achieving that 50/50 representation is imperative to making the right products, decisions, and better customer outcomes that reflect our customer base.

Kay Westgarth – Head of Retirement Distribution, Aviva – Winner of ‘Women in Later Life’ FRWRA 23

The FRWRAs are important because they give us the opportunity to spotlight an important, and often underrepresented, sector of the industry’s workforce. These awards inspire younger generations of women to chase their goals, and the awards evening itself is a great networking event that has helped foster a supportive and collaborative culture, challenging outdated stereotypes.

Rachel Edwards - Senior Policy Advisor at AMI & Project Lead for WiM - Winner of ‘Equality, Diversity, and Inclusion Community Champions’ FRWRA 23

The awards are clearly striving to drive change and encourage more women to develop careers in financial services, which is a good thing. It’s important for women to be recognised for the role they play in this industry and to feel appreciated for their continued hard work.

The awards not only highlight the achievements of individual women but also celebrate the collective progress we are making towards a more inclusive and diverse industry, which is incredibly important. Recognising and celebrating the contributions of women helps to inspire and motivate others to pursue and thrive in careers within financial services.

Monica Bradley - Managing Director, MB Associates - Winner of ‘Mortgage Advisor of the Year’ FRWRA 23

I believe the FRWRAs are so important because women are still underrepresented within this industry, and highlighting the amazing work we do at such a prestigious event will hopefully encourage more young women into this industry. Until we achieve equality, we need events like this.

Nina Brown – Protection Specialist, Pam Brown Mortgages LLP – Winner of ‘Protection Advisor of the Year’ FRWRA 23

“What would you like to see from businesses in this sector to help promote equality and diversity?”

It would be great to see our industry support staff, no matter their gender, in achieving their full potential. I think financial services are becoming more forward-thinking in doing this by implementing equality, diversity, and inclusivity policies, and ensuring clear communication around their importance — not just as a tick-box exercise, but through success stories showing the improvement they have made to the culture and success of the organisation.

Kay Westgarth – Head of Retirement Distribution, Aviva – Winner of ‘Women in Later Life’ FRWRA 23

Genuine investment in DE&I. It feels like, for most firms, DE&I is still regarded as one of those ‘nice to have’ initiatives designed to provide warm, fuzzy feelings, rather than being a properly integrated pillar of the firm’s culture and vision. We need to see a deliberate shift in perspective across the industry. DE&I should not be a peripheral department that’s first in line when costs need to be cut. Research has consistently shown that diverse teams are more innovative and make better decisions — both of which are crucial for navigating challenging economic environments. By sidelining DE&I initiatives, companies risk losing out on the benefits that a diverse workforce brings to the table.

Rachel Edwards - Senior Policy Advisor at AMI & Project Lead for WiM - Winner of ‘Equality, Diversity, and Inclusion Community Champions’ FRWRA 23

I would like to see a genuine appreciation from all businesses of the benefits of hiring a diverse range of employees from all walks of life, of all ages, and of both genders. In today's competitive landscape, it is crucial for businesses to appreciate the advantages of hiring a diverse workforce. As a trailblazer in the financial industry since 1987, I have witnessed first-hand the evolution towards gender equality. By creating my own successful company, I have always prioritised equal opportunities and fair compensation for all employees.

It is essential to recognise that diversity leads to better problem-solving and overall success for a business. Embracing different perspectives fosters innovation and drives sustainable growth. As a leader, I understand the importance of authenticity and inclusivity in creating a safe and productive work environment. In future, businesses that fail to embrace diversity and equality will struggle to attract top talent. By fostering an inclusive culture, we can ensure that everyone feels empowered to do their best work.

Monica Bradley - Managing Director, MB Associates - Winner of ‘Mortgage Advisor of the Year’ FRWRA 23

More awareness and recognition need to happen within this industry to promote us all in a different light, but businesses should also be targeting women at an earlier age, from school, so they know the options available to them within this industry.

Nina Brown – Protection Specialist, Pam Brown Mortgages LLP – Winner of ‘Protection Advisor of the Year’ FRWRA 23

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