2 December 2019
Financial Health Series: Is your money working for you?
Another exceptional event for which we would like to share a briefing update with all of you ……….! This time, London Women Forum launched its first event as part of LWF’s Financial Health Series, in partnership with The WealthiHer Network and J.P. Morgan. The event took place on November 21st at J.P. Morgan with strong participation from female & male participants, who were extremely engaged during the event and at the post event networking.
This was an highly informative and interactive session, with a warm introduction and endorsement by our Board Member Jane Karczweski, Head of Global Custody at HSBC, followed by an energetic opening by Tamara Gillan, The WealthiHer Network’s Founder, and a super dynamic presentation led by J.P. Morgan’s resident behavioural scientist, Michael Liersch on how are mind works when it comes to money… Finally, Maya Prabhu, EMEA Head of Wealth Advisory at J.P. Morgan wrapped up this wonderful event.
A little reminder on London Women’s Forum by Jane Karczweski
It was a great opportunity for Jane to remind us on the overall mission and objectives of London Women’s Forum:
- London Women’s Forum (“LWF”) was established in 2004 as City Women’s Club, a selective professional forum for senior women in the City of London financial services sector – it is still the only platform in London for senior female talent in London’s financial services sector
- Mission – to be the network of choice for senior female leaders in London’s Financial Services, connecting and supporting our members through inspirational events
- Sponsors Allen & Overy, Bloomberg Business, Citi, Deutsche, EY, HSBC, IBM, Invesco, J.P. Morgan, MFS, Morgan Stanley, Northern Trust, Refinitiv, Schroders, Société Générale, SWIFT, Thomson Reuters, Virgin Money, Willis Towers Watson, BNY Mellon, Bryan Cave Leighton Paisner, London Stock Exchange, Panmure Gordon
‘Jane also shared with us the Recent Scottish Widows Survey which shows more women are engaged in saving for later life, especially the young, but the gender gap remains!’
The WealthiHer Network by Tamara Gillan
Tamara took us through the history of The WealthiHer Network, which was founded in 2019 by entrepreneur Tamara Gillan of Cherry London, a champion for female empowerment, and Lauren von Stackelberg, a diversity change agent who spent 10 years in finance.
The Network’s creation was supported by 13 Founding Partners: Barclays Private Bank, Brewin Dolphin, Brown Advisory, C5 Capital, Chubb, Close Brothers Asset Management, HSBC Private Banking, Investec Private Banking, J.P. Morgan, Julius Baer, Kleinwort Hambros, Reddings Wealth Management and Irwin Mitchell Solicitors. These organisations came together to celebrate, inspire and empower female clients – the world’s biggest and most important emerging market.
The WealthiHer Network is a essentially a movement for change and their mission is to drive the empowerment and economic advancement of women globally.
‘Tamara informed us that research shows that still an overwhelming 70% of Women think investing is a ‘Man’s World’ !’
And so we launched into the fascinating world of Human Behaviour in relation to Money
Michael Liersch took us through how our minds work and shared super tips on aligning our behaviors to make better money decisions. He discussed how culture, gender, age and other aspects of life’s experience play a role in our money decision making.
Some fascinating research facts were shared. ‘One worth calling out is that in Western Europe, approximately $ 100,000 is the amount of money considered a requirement to hit a ‘happy’ point (or, could also be interpreted, as the ‘tipping’ point when more money doesn’t necessarily equate to more ‘happiness’ …) whilst in North America its $105,000, in Eastern Europe $ 45,000, in Latin America $35,000 and in East Asia $ 110,000’.
The complete presentation can be found attached for your reading as so many interested points were covered, including some questions worth considering for self-analysis!
Additionally, we invite you to visit the following links for further relevant information on this subject.
Is it time to take your life back from tech?: https://privatebank.jpmorgan.com/gl/en/insights/planning/is-it-time-to-take-your-life-back-from-tech-
Does your generation know best when it comes to money?: https://privatebank.jpmorgan.com/gl/en/insights/planning/does-your-generation-know-best-when-it-comes-to-money
How does money really make you feel?: https://privatebank.jpmorgan.com/gl/en/insights/planning/how-does-money-really-make-you-feel
If you have any feedback and/or questions, we would love to hear from you, so get in touch with us.
Our sincere gratitude to our wonderful presenters, and to all of our guests who make every single event so interesting and positively engaging!