The Personal Investment Management & Financial Advice Association (Pimfa) has published two reports that aim to support firms improve diversity and inclusion across the industry in collaboration with Cicero/AMO.
The first report outlines the regulatory expectations of the Financial Conduct Authority (FCA) as they are due to be applied to the wealth management and advice industry in the future.
Pimfa draws several important conclusions about the need to improve diversity and inclusion within the industry and the regulatory and commercial reasons for doing so.
Meanwhile, the second report draws on the experiences and work being carried out already by firms across the financial services industry.
The paper contains case studies of best practices from across the industry and a series of recommendations on how companies can improve or start their journey towards improving, diversity and inclusion within organisations.
Pimfa has also extended the deadline for entries to this year’s Diversity & Inclusion Awards until 22 June.
Pimfa chief executive Liz Field says: “We are really excited to be holding our Diversity & Inclusion Awards again this year. The standard of entries so far has been very high, but I want to encourage as many firms to enter as possible. So, we have taken the decision to extend the deadline by a few weeks to give everyone that wants the chance to enter. Even if you entered last year, I would encourage you to do so again.”
“The two papers we have published today set out much that we at Pimfa have learnt in the past year from our colleagues in the industry and their submissions to last year’s awards as well as our ongoing conversations with the regulator.”
“Inclusion and diversity are hugely important to the ongoing success of our industry, and I’m hugely encouraged by the response there has been from firms to understand how they make their organisations more diverse and inclusive going in many cases well beyond the recently announced minimum requirements set out by the FCA for listed firms. I hope we continue to learn from each other and keep pushing forward so that we better represent the society we serve,” Field adds.
