The adviser network has reviewed its recruitment and promotion practices and is urging other firms to follow suit in an effort to address the gender gap.
A leadership development programme to support women has also been put in place across the network.
Openwork this week held its Inspiring Women in Financial Services conference, which was attended by more than 100 female advisers, planners and employees.
The event focused on recruitment strategies to better engage with women on opportunities in the sector, as well as barriers to women seeking financial advice.
Speakers at the event included, Rose St Louis, director of strategic partnerships at Zurich; Holly Mackay, chief executive of finance website Boring Money and Standard International’s Michelle Hoskin.
Speaking at the conference, Claire Oldstein, Openwork’s marketing director said: “Women are hugely under-represented in the UK advice community with industry estimates that just 11% of advisers are female.
“The financial services industry needs to address the issue of women missing out not just on jobs as advisers but also on senior leadership positions.
“The progress made by the Treasury Select Committee’s Women in Finance inquiry is very welcome but change needs to accelerate.”
Sonia Wheeler, one of the conference panellists and managing director at Essential Wealth Management, an Openwork member firm, added: “Financial advice offers excellent career prospects and it’s important that we communicate the opportunities that are available so we can bring more women into advice and planning roles.”
