IFA firms that pursue a positive non-discriminatory attitude to gay and female clients have a better chance of success than firms run by women for solely female clients, according to IFA Ruth Whitehead.
Three out of the four IFA firms set up specifically to offer financial advice for women, delivered by women, listed in Unbiased.co.uk’se Book from 2009 are now no longer trading.
Two were run by IFAs who have rebranded their operations to make no mention of working only for women clients.
Ms Whitehead, principal of her own London based IFA firm, where women make up half of all clients, said: “If you are going to set up an IFA that is primary for women you are making yourself too niche. If you are starting yourself off from scratch you need to be more broadly based.”