Sat, 11 Apr 2020

Mumbai (Maharashtra) [India] Feb 21 (ANI/PRNewswire): Intuitively, we know that women are good managers and multi-taskers; if one were to consider India's political scenario, there is empirical evidence to suggest that women make good leaders too.

Even so, when we consider the World Economic Forum's (WEF) Global Gender Gap Report 2020, it's unfortunate to see that India has moved lower by four spaces to 112 position in its overall gender gap with a score of 66.8 per cent.

This means that the gender gap in India has been bridged two-thirds of the way but we are still lagging behind in many aspects when compared to the rest of the world. Prominently, the economic gender gap in India (at a score of 35.4 per cent) has been bridged only one-third of the way and India's rank in this aspect is down seven places to 149th out of a total of 153 countries considered in this WEF report.

Clearly, there is a lot of work needed to be done in the economic and financial empowerment of women. The Women Financial Advisers Network (WFAN) works tirelessly with 100 per cent commitment towards empowering women and giving them the right tools for financial independence.

Partha Iyengar along with his partner Prajakta Shidhore (Co-founders - LifeMoney) together started WFAN with the objective of bridging the gender gap in India by encouraging women to embrace financial well being and training them to become successful financial advisers.

"Research shows, 60 per cent of young women drop out of the workforce within five years and overall 26 per cent drop off from the workplace completely. Our vision is to bridge the gender gap in the workplace in India, by empowering them not only to become micro-entrepreneurs and financially independent but also to help them lead a balanced and meaningful life. Once they have the skills, they can then help serve other men and women across age groups through the four paths that we use to facilitate this transition towards financial awareness and independence", explained Iyengar.

The learning processes for the four paths mentioned by Iyengar are Financial Life Planner and Investment Adviser, Holistic Financial Wellness Coach, Holistic Financial Wellness Program - Trainer, Holistic Financial Wellness Program - Children. All the learning across these is based on the life planning and coaching process.

The low ranking that India holds in the economic gender gap is the result of symptoms like low self-confidence and financial awareness among its women. Thankfully this can change. With a view to bringing the best minds to this generous and ambitious objective of bridging the gender gap, WFAN is announcing key international partnerships and collaborations across the four paths.

These will be beneficial in developing learning processes and scalable formats for members of WFAN and also for the overall community.

"Our virtual learning platforms along with various collaborations help us provide our members 24x7 supports through global and Indian coaches. Moreover, they will be able to learn from time tested templates, toolkits, resources and will have access to an amazing vibrant global community that holds each other's back. Our vision and mission also include the need to be in alignment with six out of 17 UN Sustainable Goals for 2030. We are committed to the UN Sustainable Goals and in the next phase of our expansion, we will be expanding the platform on a large scale to the rural market to serve women and the consumers of rural India", said Partha Iyengar, Co-founder, WFAN and LifeMoney, about the launch of these collaborations,The journey began with a purposeful collaboration between WFAN and the Garrett Planning Network, the USA founded by Sheryl Garrett in 2000. The 'Financial Life Planner and Investment Adviser' program focuses on helping existing independent financial advisers to transition to a fee-only model and add value to themselves and their clients.

The Garrett Planning Network pioneered the fee-only hourly model to serve the underserved low and middle-income earners in the United States. The network currently has 250 members serving 25000 families across the US. Garrett and her team will be involved in making their successful model applicable and scalable in India.

Next comes the exclusive collaboration with Sage Financial Solutions Inc, the USA founded by Saundra Davis in 2010. Davis has pioneered the coaching profession focused on the finance industry. This collaboration will facilitate the certification of "Holistic Financial Wellness Coach" by applying their customised curriculum which focuses on balance rather than just financial awareness and execution.

In another exclusive collaboration, WFAN has partnered with It's a Habit Inc, the USA for their children and money wellness program. It's a Habit Inc was launched by Sam Renick in the year 2000. His 'Sammy Rabbit' program for children has impacted an estimated 2,50,000 young minds in the age group of 3-13 years, across the US.

Lastly, the path towards Holistic Financial Wellness Programs - Trainer, is covered by LifeMoney, based on a curriculum designed keeping in mind the teachings from Richard Thaler's 'Nudge'.

Women can become members and participate across the four paths to access earning capabilities through these in a fee-only model. Each path involves a two-day live training program followed by access to the online network and platform and coaches.

All these efforts together will not only result in bridging the gender gap by bringing more women into the workforce through micro-entrepreneurship but also improve the financial awareness of the overall community by sharing this knowledge through coaching programs cutting through various age groups.

This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

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