Female financial planners – a path to pursue

12 Jul 2023 4 min read

For more than 17 years, Cheryl Haines has worked as a financial planner. When she first set out in her career, there weren’t many women in the field. While Cheryl has seen change over the years, there is a way to go.

In Australia, about 79% of financial planners registered under the Australian Securities and Investments Commission (ASIC) Financial Adviser Register (FAR) who revealed their gender are male.1

‘I’ve always been drawn to finance,’ says Cheryl. ‘Being able to plan and optimise your money is a skill and goal I want everyone to have. Finances affect men and women, so the advice should be coming from both genders. Of course, all financial planners should be qualified and skilled, but a female planner may bring different skills, experience and understanding to the table. I understand planning for your financial future can be a very daunting task and even more daunting at times for single women ‘going it alone’. My goal has always been to make advice less confusing and the journey to financial independence empowering for both women and men alike. When I started out, I was amazed at how few women were in the industry. I’m pleased to see this is changing.’

Why men dominate the financial planning industry can’t be pinned to one reason — they are many and various.

Gender bias and finance

Women experience inequality in many areas of their lives. At work, many women face a gender ‘pay gap’. In finance, the gender pay gap is the greatest of any industry at 27.5 per cent, women hold only 28.7 per cent of key senior management roles.2

If women struggle to land leadership roles, the knock-on effect can be far-reaching. For example, if we don’t see women in leadership roles, it could signal that women lack competency in this field. Unfortunately, gender bias can occur because of outdated and lingering stereotypical beliefs which can be hard to catch as they are often subconscious.3

Women’s financial literacy

Unfortunately, gaps also exist in financial literacy between men and women. Research conducted by the University of Western Australia showed that while 63% of men were able to demonstrate an understanding of at least three basic financial literacy concepts, this dropped down to 48% for women.4 Closing this gap is a matter of ensuring women have access to resources and information about finance and their options. At NGS, we are passionate about everyone being informed and empowered to make decisions about their money and finances which is why we have a range of resources available to all our members.

Opportunities for women

Another consideration is creating opportunities for women in the finance sector. In a global survey of 15,000 university students conducted by the Chartered Financial Analyst Institute, it was found that only 17% want to work in finance.5 Long work hours were cited as one of the potential reasons for students’ lack of enthusiasm for entering the sector.6 To encourage more women into finance it’s important to provide flexibility so that women who may also be taking on other roles, such as childcare, can manage and thrive. The sector needs to be presented as an exciting and viable option from the outset for graduates.

‘To create long-lasting change, we need to encourage and welcome more women into the field,’ says NGS Super CEO Natalie Previtera. ‘I’m proud to be a leader in finance and while we have a way to go in reaching gender equality, we are on our way. At NGS Super, we have fantastic women working across the business and highly-skilled female financial planners. It would be wonderful to see more women pursue this career. Our planners make a real difference to our members and help them to navigate some important and sometimes sensitive decisions, particularly where life doesn’t work out as planned. Those decisions range from insurance needs to investment decisions. At the end of the day, it’s about helping our members prepare for their tomorrow’.

NGS Super’s team of financial planners are located across the country, working with members to design and implement financial plans to meet their goals.

Meet our female financial planners:

Cheryl Haines

Cheryl is a Certified Financial Planner®, holding a Bachelor of Business (Accounting, Business Law and Taxation), a Diploma of Financial Planning and a Diploma of Superannuation Management. Cheryl joined NGS in July 2019, bringing with her over 17 years financial planning experience from AustSafe Super, Mercy Super, CareSuper, Cbus and AustralianSuper. She specialises in wealth accumulation, superannuation and retirement planning strategies.

Cheryl’s passion lies in helping members realise and achieve their financial and lifestyle goals. Cheryl is based in the Brisbane office and regularly services our regional Queensland members.

Maria Maganic

Maria Maganic is a Certified Financial Planner® and holds a Bachelor of Business (Accounting/Finance Major) and a Diploma in Financial Planning. Maria’s 14 years of experience as a financial planner has provided her with expertise in many facets of financial services, including corporate superannuation, wealth creation, debt and risk management strategies. Maria is based in our Sydney office and also visits Melbourne regularly to service Victorian members.

Trudy Jenkins

Trudy Jenkins is a Certified Financial Planner® with over 20 years of experience in wealth management and financial services. Trudy is a specialist in superannuation, retirement planning and portfolio construction. Trudy is based in our Adelaide office and regularly visits Perth to look after our Western Australian members.

Start your journey with NGS Super

If you feel ready to review your finances, why not connect with one of our NGS Super Specialists?

Whether at the start of your career journey, approaching retirement or anywhere in between, our Super Specialists are here to help. It’s free, and they can answer your questions about superannuation, investments, insurance or transition to retirement. They can also help you decide the next steps — including if meeting with an NGS financial planner is right for you.

Our financial planners can create strategies that aim to maximise your financial position and meet your objectives for the future. Financial advice can also involve protecting your lifestyle and assets through personal insurance and looking at what happens to your super when you die and the impact on your loved ones receiving your super.

Seeking advice is a way to plan for your future, to mitigate risks and make the most of your saving opportunities. Education is integral to the planning process — it’s important that you feel confident and informed at all times.

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