PIMFA
Inclusion Diversity Equity
Welcome to the Inclusion Diversity Equity area of the website.
This is a one stop shop for everything in these areas.
What is Inclusion, Diversity and Equity?
Inclusion is about creating an inclusive culture and a sense of belonging in a workplace where everyone can contribute and be valued.
Equity is about creating opportunity and advancement for everyone. It is about ensuring that all individuals have equal opportunities to succeed, and it prevents individuals from being discriminated against or treated differently.
Diversity is about the acceptance and inclusion of employees of all backgrounds. It means diversity of gender, race, ethnicity, age, language, education, sexuality, background, etc. Diversity and inclusion are essential for healthy firm cultures, enabling firms to deliver better outcomes for consumers and markets.
Report on the Inclusion at Work Panel's recommendations for improving diversity & inclusion (D&I) practice in the workplace
The independent Inclusion at Work Panel has published a report on 20 March setting out how organisations can improve diversity and inclusion practices through evidence. The ‘Inclusion at Work Panel’ was established in June 2023 to tackle bias, ensure fairness and promote inclusive workplaces. Made up of leaders from the private and public sector, and advised by a leading Harvard academic, the Panel set out to identify effective and ineffective D&I practice, explaining what works, why, and how. The Inclusion at Work Panel’s report sets out how employers can do away with ineffective, divisive, and poor-quality D&I practices, and instead focus resources on interventions backed by the evidence that represent value for money.
HM Treasury Financial Inclusion Committee
HM Treasury has published the terms of reference of the new Financial Inclusion Committee (comprised of consumer groups and financial institutions) chaired by Tulip Siddiq, the Economic Secretary to the Treasury.
The Committee’s objectives are to develop, coordinate and implement interventions to support financial inclusion in the UK, and advise HM Government on the development of its financial inclusion strategy.
Areas of focus include: digital inclusion and access to banking services, savings, insurance, affordable credit # and problem debt and ] financial education and capability.
Why is Inclusion, Diversity and Equity so important?
Inclusion, diversity and equity of perspectives and thoughts reduce the risk of group think and result in better decision making that is in the interest of both companies and consumers. An inclusive culture enables the benefits of diversity to flourish, it allows people to be themselves, to contribute and raise concerns and perform at their best.
PIMFA is committed to promoting Diversity and Inclusion in all its forms.
Working across the industry with numerous partners, PIMFA have created various initiatives such as our long-standing Women in Wealth Forum, the Authentic Leadership Programme and our Career Masterclasses to inspire, empower and educate – while also helping address and tackle barriers in our industry. In May 2021 we also launched our first ever Diversity & Inclusion Awards to recognise firms developing positive inclusive cultures.
Working across the industry with numerous partners, PIMFA has created various initiatives such our long-standing Women in Wealth Forum, the Authentic Leadership Programme and our Career Masterclasses to inspire, empower and educate – while also helping address and tackle barriers in our industry. In May 2021 we also launched our first ever Diversity & Inclusion Awards to recognise firms developing positive inclusive cultures.
We are proud to work with a number of partner organisations including LGBT Great, for whom PIMFA’s Chief Executive Liz Field is a member of Project 1000 and an LGBT Great Ally. We have worked closely with CISI on their school leavers programme, City Hive and also the EY Foundation on their Sustainable Futures programme in wealth management. Previously we partnered with leading City of London Social Mobility Charity, The Brokerage to run career masterclasses.
