Time to shine

The number of female CEOs in the Fortune 500 is at an all-time high. Stephen Penn spoke to Anna Sofat, director of Addidi Wealth, to find out how the company is helping women take control of their financial futures.

Gender diversity in global companies is a hot topic at present and rightly so with national and international trends in company leadership moving towards more women in CEO positions.

But with success comes wealth, and with wealth comes a need for tailored financial support systems. Established in March 2008, Addidi Wealth was set up to be just that – the voice of women’s wealth.

The clue is perhaps in the company name - derived from the Latin meaning to add value or inspire, and the Hindi word for sister.

“We understand that women think differently about money and that the culture of wealth and wealth management is male-centric,” says founder Anna Sofat. “I launched the business specifically to provide a trusted home for women and their financial commitments and investments. From the beginning it was a very holistic offering, providing financial concierge, financial planning and investment management.”

Addidi Wealth’s approach differs from traditional wealth management companies, as throughout history the financial services industry has been made by, and for, men.

Adds Anna: “Women and men think very differently about money with distinct differences in their needs and approaches to finance. Women for example, often prioritise security for the family unit and tend to be less risk averse with this part of their asset base. They’re invariably less motivated by monetary returns too – focussing on what those returns mean for their families. As such, they tend to be more considered, long term investors.”

Anna and her team use their 20 plus years of wealth advisory experience to construct investment, wealth and legacy plans, incorporating their vision and goals for themselves and their families. Plans can incorporate purely regulated investments, all assets and structures or a wider remit to protect the family’s wealth legacy.

Once a plan is established, the team work with individual clients and their advisers to implement an agreed financial strategy, be it investing in stocks and shares, property, businesses or other assets, or with a financial focus on generating more wealth.

“The number of female advisors currently sits at 17% which isn’t much of a gain from 14% - 10 years ago,” Anna adds. “At Addidi, we’ve started the conversation around changing the culture of wealth to become a more inclusive and diverse space for all. It’s a goal we’ll continue to work towards with zeal.”