Diversity, Equity & Inclusion

Paving The Way For Women In The Financial Security Profession 

Realizing change through education, collaboration and recognition

by Bonnie Godsman 

Bonnie Godsman is the President of Finseca and the Finseca Foundation.

The significance of diversity and inclusivity has never been greater, and I am honored to be part of an organization that is leading the charge toward a future that ensures both fairness and success for women in the financial security profession. 

Finseca and its Women’s Impact Community are rapidly growing to be one of the largest groups of women in the profession. This community, built by women for women, emphasizes collaboration, marketplace education, and mentorship. Through this network, Finseca is breaking down barriers and fostering an environment where women can thrive.  

One of the primary objectives of Finseca’s Women’s Community is to provide women with access to invaluable insights and expertise from industry leaders. Through a series of workshops, EQ-focused calls, and networking events, women have the opportunity to enhance their skills, broaden their knowledge, and stay abreast of the latest industry trends. By equipping women with the tools they need to succeed, this community is leveling the playing field and empowering more women to reach their full potential. 

In addition to offering support and resources, Finseca’s Women’s Community is committed to educating fellow professionals about the significant benefits of hiring, working with, and serving the women-based marketplace. This initiative aims to create resources that help professionals collaborate to address systemic challenges hindering women’s progress in the financial security field. By advocating for policy changes, promoting diversity and inclusion initiatives, and challenging gender norms, we are driving meaningful change within the profession. 

Still Work Yet To Do Towards Achieving Gender Equality

Representation and visibility are crucial in inspiring the next generation of women leaders. By highlighting the achievements of women in the financial security profession and celebrating their successes, we can break down stereotypes and pave the way for future generations. Through our advocacy and outreach efforts, we showcase women’s diverse talents and expertise in the industry while inspiring others to pursue careers in the field. 

Despite the progress that has been made, there is still much work to be done to achieve gender equality in the financial security profession. For instance, a study by the CFP Board’s Women’s Initiative highlights several barriers women face in financial planning, including a lack of awareness about the profession, gender discrimination, and risk aversion, which can hinder their career advancement and satisfaction. 

However, here at Finseca, we are committed to making that change. Earlier this year, we honored our first-ever female inductee, Deb White, District Manager at Farm Bureau Financial Services, into the 2024 Finseca Leadership Hall of Fame. This milestone is not just a celebration of one woman’s achievements but a testament to the progress we are making as an organization. By recognizing leaders like Deb White, we are setting a precedent for others to follow and underscoring the importance of female representation in leadership roles. 

Support In Financial Planning

Another aspect is the critical need for women to support each other in financial planning. According to Northwestern Mutual’s Planning and Progress Study in 2023, only four in ten U.S. women feel financially secure, and just 44% believe they will be financially prepared for retirement, compared to 61% of men. When women help women with their financial security, it not only empowers them to achieve personal financial stability but also paves the way for more women to enter and thrive in the financial security profession. By fostering a community where women mentor and educate one another, we can close the confidence gap, promote financial literacy, and inspire more women to pursue careers in this field, ultimately leading to greater gender equality in financial preparedness and career representation.

By equipping women with the tools they need to succeed, this community is leveling the playing field and empowering more women to reach their full potential...

To drive lasting change for women, we must lay the foundation for more women to be successful in their careers. This involves a deliberate focus and heightened awareness, which will amplify the spotlight on success stories, shatter stereotypes, and ignite inspiration among the next generation of women. The journey to gender equality is ongoing, and every step we take brings us closer to a more inclusive and diverse profession. 

Moreover, our efforts at Finseca extend beyond individual recognition. We are actively working to implement systemic changes that will benefit all women in the profession. This includes partnering with educational institutions to promote financial security careers to young women and creating internship and mentorship programs that offer hands-on experience and guidance. 

Engaging With Male Allies

Our commitment to diversity and inclusion also involves engaging with male allies who support our mission. By fostering an inclusive environment where everyone is invested in the success of women, we can create a more collaborative and supportive industry.

Men who advocate for gender equality play a critical role in driving change, and their involvement is essential to breaking down barriers and creating opportunities for women. 

Continuous Learning & Development

Finseca’s Women’s Community also emphasizes the importance of continuous learning and development. We offer a variety of professional development programs that are designed to help women at all stages of their careers. From entry-level employees to seasoned executives, there are resources and opportunities available to help women grow and advance in their roles. These programs are tailored to address the unique challenges women face in the financial security profession and provide them with the skills and confidence needed to overcome these obstacles. 

Closing Thoughts

In closing, the efforts of Finseca and its Women’s Impact Community are crucial in creating a more equitable and prosperous future for women in the financial security profession. By providing support, resources, and opportunities for growth, we are empowering women to reach their full potential and driving meaningful change within the industry. As we continue to celebrate our achievements and recognize the contributions of women leaders, we are also committed to addressing the systemic challenges that still exist and advocating for a more inclusive and diverse profession. Together, we can build a future where women in the financial security profession excel and flourish.  

To learn more about Finseca’s Women’s Community or to join us, please visit our website. Your support and participation are vital to our mission, and we look forward to working together to create a brighter future for all women in the financial security profession. 

 

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