RBC Wealth Management has become the latest firm to support the WealthiHer Network, a campaign group aiming to change the wealth management sector’s attitudes to women and money.

RBC Wealth Management, part of Royal Bank of Canada, this week became a founding member of WealthiHer Network.

The WealthiHer Network was founded in 2019 by entrepreneur Tamara Gillan and Lauren von Stackelberg, a diversity change agent who spent 10 years working in finance.

The network is supported by 14 partner firms: Barclays Private Bank, Brewin Dolphin, Brown Advisory, C5 Capital, Chubb, Close Brothers Asset Management, Federated Hermes, HSBC Private Banking, Investec Private Banking, JP Morgan, Julius Baer, Kleinwort Hambros, RBC, Reddings Wealth Management and Irwin Mitchell Solicitors.

The network says it aims to transform the industry’s “approach and attitudes” to women and wealth management, encouraging firms to do more to help women use their wealth better and nudging firms to do more for women.

Annabel Bosman, head of relationship management, RBC Wealth Management, said: “Joining the WealthiHer Network is a great opportunity for RBC to be at the forefront of celebrating, inspiring and empowering our female clients.

“As an industry we’re starting to make real progress in this area but recognise that there is still a long way to go.”

Tamara Gillan, founder and chief executive at WealthiHer: “We look forward to working with RBC to continue to unlock the power of our collective expertise and knowledge, delivered in new ways, to enable women to protect and secure their futures now more than ever before.”

Research conducted by RBC uncovered the significant role that women play in managing family wealth. Its research found that 84% of women have full or joint responsibility for overseeing the family investment portfolio.