Raymond James has launched the Women Wealth Manager Network (WWMN) in the UK, following a mission to align with its diversity and equality policy.

The purpose of the network would be to support and retain female wealth managers and leaders, and leading more women into the wealth management profession.

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Due to the rapidly increasingly share of wealth controlled by women, there is an urgent need for diversity in the wealth management profession in order to fully understand the needs of HNW females.

The WWMN will enact a program of networking and development events which recognise the demographic shift between female and male wealth managers.

The launch in the UK follows in the footsteps of the Raymond James Women Advisor Networks in both the US and Canada.

WWMN’s advisory council consists of three Raymond Branch principles: Nicola Tomlin, Faye Silver and Helena Bakunowicz. Additionally, Cynthia Poole and Kerry Nicholls will be coordinating the network from the head office.

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The network will also bring together other leaders in wealth management practises, such as female business owners, operations managers, client services managers, and finance managers.

Bakunowicz branch principal from the Investment Boutique added: “The share of wealth held by women is growing rapidly and the industry needs to react to the needs of our clients. We are not saying that all female clients will want to work with a female wealth manager – however, we believe female clients value a diverse wealth management team and we are working towards being able to offer them a better choice.”