First Wealth are delighted to announce we will be the first corporate supporter of the brilliant Are You In? Movement.
The Are You In? Movement is the idea of fellow financial planner Anna Sofat of Adiddi Wealth. Like many financial planners, Anna has become tired of, and increasingly frustrated with, the self-interest and greed of certain elements of the financial sector. Anna wants to make a positive stand for good. She describes the issue as follows:
“The financial services sector is one of the biggest in the UK, its employs 1.1million people (3.2% of UK Employment), contributed £119b to the UK economy (6.5% of the total economic output) and had a £51b surplus in financial services export.
“Yet the industry continues be dogged by problems – it has the biggest pay gap in the UK, women and ethnic minorities continue to be under-represented, mis-selling scandals continue unabated and trust in the sector remains elusive! To prevent potential harm to consumer, the industry has become heavily regulated – it costs £1.8b a year to regulate!”
Anna created the Are You In? movement in the belief that if we adopt a simple, easy to measure shared purpose – to improve the financial wellbeing of our clients – then we will see a healthier and more sustainable industry for the people working within as well as our clients. Having a plan, being organised and having sufficient insurances in case of serious ill health or death are all part of financial wellbeing, and core to the planning process we go through at First Wealth. Lending our support to this initiative was therefore an easy decision for us.
The Are You In? movement consists of five pledges which First Wealth has signed up to:
- I am committed to living the changes I want to see happening at work
- I am committed to helping others and passing it on
- I am committed to being the beacon for good practice and good behaviour in my industry
- I am committed to staying authentic to myself at work
- I am committed to speaking up for people who are not being heard or seen around me.
By joining the movement we hope to improve the culture of financial services, help spread the word, set an example to other firms and become a part of a better future for everyone.