Aggregators failing to lead the way on diversity

Despite aggregation groups and industry bodies pushing to encourage more women to enter the broking industry, one female veteran of the industry argues that aggregators are failing to lead by example.

“The thing I’ve always found interesting is that there are no females heading up the big aggregation groups,” Kathy Cummings, a former executive general manager at CBA, told The Adviser.

“As a matter of fact, they are very thin on the ground, as far as having senior women.”

Tanya Sale, the CEO of Outsource Financial and one of the few female leaders in the aggregation space, agrees that there is a poor showing at the top. Yet she believes there will be little movement from current levels of women in the industry.

“I would love to see a lot more women coming into our industry; unfortunately though, I do not believe we will see the percentages of women coming into our industry increasing much at all,” she said.

However not everyone agrees that gender inequality in the third-party industry will become permanently entrenched.

“If you look at the number of women in banks versus men, I think there’s now more women in banking. But that certainly wasn’t the case when I was there,” said Vow Financial CEO Tim Brown.

“I’m seeing that shift in banking and I think it’s just a matter of time before it will shift into mortgage broking.”

[Related: Female brokers capture more business]

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