August 2022: The financial services industry does not cater to the realities of womanhood which is the key motivation behind the launch of Carrick Athena – an all-women platform that focuses on closing the investment gap for women.
Carrick Athena launches on the 19th August 2022, as the country celebrates International Women’s Month.
Named after the Greek Goddess of wisdom and peace and paradoxically the warrior spirit, Athena is a strong symbol of womanhood. “She is the perfect warrior to inspire women to be in control of their own money,” says Seanagh Fannin, Managing Director of Carrick Athena.
Seanagh has worked in the financial services industry for 12 years and, during this time, has been keenly aware of the need for women to be seen, heard, and empowered to take control of their financial futures, despite the life path they may be on.
“Women tend to live longer than men and retire with less money. In my experience, they are more risk-sensitive than their male counterparts and have different financial strategies than men. The financial industry has thus far under catered for women investors and their needs in closing the investment gap.” says Seanagh, who is responsible for rolling out Carrick Athena in South Africa and to the rest of the Carrick offices across the continent. “Women also want someone who resonates with them and sees them for who and where they are. Whilst this is not absolute, women tend to choose advisors that have a personal fit with them.”
Carrick Athena’s model considers the differences in women’s financial journeys: they tend to live almost five years longer than men; their salaries may peak sooner; they may have more career breaks given their generic life stages (such as childbearing); and gender pay gaps often exist, all of which can cost hundreds of thousands of rands over a lifetime. How advisors plan for these events and make allowances for them is where Carrick Athena aims to bridge the investment gap.
“Importantly, Carrick Athena aims to support women in a way that serves their life stage and goals,” says Seanagh – be it the single mum of four who needs to start saving for her children’s education; the recently-separated career-driven doctor navigating a divorce; the entrepreneur entering the business world and having to face debt; or the widower who is left in a vulnerable position when her team of two becomes a team of one.
“Money is power, and power for women is the ability to achieve their life goals and have financial independence,” she adds.
Carrick Athena will be helping women take control from 19th August. Simply log on to CarrickAthena.com to define your life goals and experience financial power.
“Money is our number one source of stress so take action now,” advises Seanagh.