Targets Alone Won't Fix Gender Imbalance in Finance

In an interview at ThinkAdvisor's office, Williams called on wealth management firms to do more than just acknowledge the challenge at hand and effect change with actions that will create sustainable transformation at the cultural level.

According to Williams, this will require firms to "really look at policies and programs as well as training to create the change and go beyond just simply gender targets, which are helpful but on their own insufficient."

Instead, Williams said firms must actively manage the change required to eliminate biases that hinder progress.

"Monitoring the progress is really key, and that requires a commitment from the top," Williams said. "You have to hold yourself accountable as a firm and look at what type of progress are we making."

Williams also addressed this in a recent blog post, where she outlined questions that can help push for personal reflection by individuals and organizational accountability for firms.

Those questions include:

• Are there policies and protocols that we can begin to implement today, to help recruit, hire, coach and mentor women for greater inclusion?
• Where can we introduce bias interrupters, to tear down real and perceived roadblocks?
• Do we have programs to provide opportunities for junior to mid-career individuals to work directly with firm leadership on strategic projects?
• How will senior management improve transparency and communication to foster a gender-balanced culture?

— Related on ThinkAdvisor:

• 'Fearless Girl' Was Never a 'Statement of Accomplishment': State Street
• CFP Board's Re-Entry Program for Women Shows Signs of Success