Olivia has been a key member of the United Advisers team since 2003 when she joined as a Client Relationship Manager, and she returns following maternity leave as a Financial Planner for United Advisers Marine.
We catch up with Olivia about her new role and why females are underrepresented in finance.
UAM: ‘Firstly welcome back! What are you most excited about for your new role?’
I’m excited to get out there and meet new clients! I am normally ‘behind the scenes’ so it will be great to be more front facing and interact with our clients face to face.
UAM: ‘Do you think it’s an advantage to have worked as a Client Relationship Manager before becoming a Financial Planner?’
Absolutely. A client relationship manager is such a fundamental part of the process so it’s great to have the administration knowledge that will only benefit the client. It also means that I’ve been working in the superyacht industry for a number of years which definitely helps when it comes to advising clients on issues such as tax, banking and investments.
UAM: ‘You are going to be the first female financial planner at United Advisers, why do you think we see fewer women taking senior roles in financial services?’
I feel there is an incorrect stigma attached to the industry. Stereotypically men have worked in financial services, and this is true both inside and outside of the superyacht industry. I feel this stereotype intimidates women to progress within the industry which is a shame as there is a lot we have to offer. I am hoping this will change over time and it’s great to see an increase in female Financial Planners, even if the progress is slow.
UAM: ‘Do you think when it comes to financial planning and wealth management women have a different approach to men?’
I think so. Typically women are more cautious. Women can often be more willing to take help and advice in their financial planning. We’ve also found with our female clients that they really embrace the focused ‘plan of action’ for their investment needs and appreciate having clear milestones laid out.
UAM: ‘Within the superyacht industry we also see that men dominate certain positions; do you think this will change over time?’
Yes, I feel more women are now coming through the ranks and deserve the positions that have been dominated by men. It should be about your ability, not your gender that decides your progression.
UAM: ‘In your role as a financial planner, what is one piece of advice you would share with yacht crew for 2019?’
It’s never too late to make your dreams become a reality.
Crew often avoid seeking financial advice because they believe they have left it too late for it to make any significant impact on their financial situation. While it’s better to save sooner, yachties have the incredible advantage of having low living costs so they can very quickly accumulate personal wealth.
