WOMEN’S INDEX partners with AFA Inspire


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 FA Inspire National Chair, Dianne Charman (R) and
Financy Founder and Editor, Bianca Hartge-Hazelman

 WOMEN’S INDEX partners with AFA Inspire

The Association of Financial Advisers (AFA)’s Inspire community supports future growth of the Financy Women’s Index.

SYDNEY: 26 March 2018 - The Association of Financial Advisers Inspire community (AFA Inspire) and Financy are pleased to announce that AFA Inspire has become the newest supporter and bronze partner of the Financy Women’s Index (the Index).

Financy Founder Bianca Hartge-Hazelman said AFA Inspire’s support of the Index will ensure the future growth of the economic measure, which is aimed at benchmarking and tracking the economic progress of Australian women. “Until recently the Index has been entirely self-funded, so to gain a new supporter in the AFA is fantastic,” she said. “It allows us to keep delivering the Index to business, government, media and consumers.”

The latest Financy Women’s Index covering the December 2017 quarter, was released March 7 and was extremely well received. It was published in Fairfax Media as well as featured on Channel Ten’s The Project. “Funding of the Index helps us to grow its reach and hopefully attract even more partners to further enrich the scope of the data and the insights we are able to gather on women and their financial wellbeing,” said Ms Hartge-Hazelman.

AFA CEO, Philip Kewin said, "The Financy Women's Index gives us the opportunity to measure how we are tracking towards positive and meaningful cultural change and in so doing, continually highlight areas for ongoing improvement in the financial wellbeing of women in Australia. The AFA is proud to support this progressive and potentially game-changing initiative."

AFA Inspire National Chair, Dianne Charman said AFA Inspire's support of the Index provides a mechanism to track how progress is being made, or not being made, for specific measures relating to women. “This is the first index to specifically measure trends for working women and with this data we can better understand how we are tracking. We’ll also be able to tailor our initiatives to areas which need more support and understand the Australian landscape from a female perspective. The tools the Index provides will also more broadly inform government, business and women to make decisions and check on progress.”

The latest Index found that more Australian women are taking advantage of opportunities to progress in the economy by engaging in the workforce in record numbers and making educational decisions that align with higher paying careers. The Financy Women’s Index improved 0.8 percentage points to 111.7 points in the three months to December 31, compared to a revised 0.2 percentage point gain in the September quarter. But the annual pace of female economic progress slowed as the country’s biggest listed companies did not improve on the number of women on boards.

Key findings:

• The Index rose 0.8 percentage points to 111.7 points in the Dec qtr. 2017, compared to 110.9 points in the Sept qtr. 2017

• Annual pace of progress slowed to 2 percentage points in 2017

• Record growth in women working full time and in the workforce

• ASX top 20 company actions little changed on improving gender equality

• Gender gap in superannuation and wages narrowed slightly

• More women studying courses linked to higher paying industries

About Financy Women’s Index

The Financy Women’s Index (the Index) recently celebrated its first birthday after it was first launched on International Women’s Day in March 2017. The Index differs from other economic measures, such as official wages and jobs data, because it focuses on women, whereas most of the headline data reported in the mainstream press reflects an average for the Australian population, but these figures are skewed towards male outcomes as a result of a male dominated workforce. The Index is designed to highlight trends among working women; from the courses they study once they leave high school, to what industries they work in, their earnings and savings in superannuation, through to those occupying top company board positions. The Index also helps to cut through much of the noise reported around gender equality and pay gaps in the domestic economy. The Index is based on over 700 annual company reports as well as monthly, quarterly, biannually, and two-yearly data and methodology from the Australian Bureau of Statistics (ABS), the Australian Securities Exchange (ASX), the Australian Tax Office (ATO) and the Australian Government Department of Education and Training. The Financy Women’s Index is sponsored by fintech company OneVue and AFA Inspire.

About Financy®

Financy® is dedicated to improving female financial literacy, equality and independence Australia. Financy is an online publication that puts women’s money matters first and in 2017 launched the Financy Women’s Index to track and measure economic progress for working women.

About the AFA

The Association of Financial Advisers Limited (AFA) has been the authentic voice on the value of financial advice for over 70 years. Today, the AFA is a vibrant, innovative association, where the underlying driver of policy is the belief that great advice transforms lives. To this end the AFA is striving to achieve the vision of Great Advice for More Australians. The AFA’s ongoing relevance as a professional association is derived from our success in engaging with the major stakeholders in financial advice including advisers, consumers, licensees, product and service providers, and the regulator and government. Culturally we believe in the value of collaboration to create powerful outcomes and this drives how we achieve influence and work towards our vision.

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