The Treasury will take 'radical interventions’ when it comes to tackling issues raised by the second annual Women in Finance Charter review next month, according to one of the department's ministers.
Since it was launched in 2016 more than 300 businesses have signed up to the Women in Finance Charter, including recent New Model Adviser® award winners Berry & Oak, Magenta Financial Planning and Mazars.
National advice business St James's Place and robo-adviser Nutmeg have also joined the charter, which aims to improve the number of women in financial advice.
Speaking at the Pimfa Wealth of Diversity Conference, economic secretary to the Treasury John Glen (pictured) said a review of the charter's progress due to be published soon could lead to 'further intervention by government' when it comes to gender diversity in finance.
‘[We] will not be holding back as we look to the report next month,' he said.
‘I want to see firms driving forward, taking this seriously and taking meaningful additional actions so we can see a real shift towards gender parity.
‘There needs to be a shift to an expectation of radical interventions that really move on this agenda. Across the whole debate it’s clear evidence-based interventions bring about change.’
The treasury itself set a target to achieve 50% gender parity in staff by 2020. It now has 48.2%, up from 43% in 2017.