Switzer launches wealth platform for women
Switzer Financial Group has launched digital platform Tilley Money to focus on the financial issues of women.
The aim was to make financial information “accessible, digestible and interesting” for women by strengthening knowledge around financial wellbeing, independence and literacy to help close the gender wealth gap.
It cited the following statistics as a catalyst for creating the platform:
- Commbank’s ‘Women’s Financial Wellbeing Guide’ reported 85% of women under 35 said they do not understand “fundamental investment concepts”, and only 29% of women were taught about investing, in comparison to 41% of men; and
- According to Fidelity International’s 2019 ‘The Financial Power of Women’ report, 6% of women saw investment industry communications as “complicated”, 25% saw them as “intimidating” and 20% said they were “tailored to men”.
Tilly would be led by Maureen Jordan, Switzer Financial Group chief executive, who said the gender wealth gap had been too wide for too long.
“I’ve seen people go from knowing relatively little about buying a house and investing in shares to owning their first home, understanding their super and actually buying shares in such a short time,” Jordan said.
“That’s what being exposed to money information does for you. It’s all about education and we’ll be working so hard to do our bit at Tilley Money to close the wealth gap between men and women.”
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