SheTrade

(Andrew Clark) #1

Really struck last night with the demographic of the people in the room (around 90% male) and the general demographics for users who trade with Freetrade and their competitors (even worse than 90%).

There must be something that can be done to address this and to appeal to women more. As a middle aged white man I appreciate I don’t have the answer but a couple of thoughts:
1: marketing in less traditional channels. (My wife spends half her Internet time on mumsnet for example, but equally, reaching out to influencers).
2. There’s a gender investment gap here - needs some serious attention. There is a link between being independent and financially independent.
3. Adam spoke last night about search and curation. Search by women founders, women CEOs, more socially aware companies…

(Emma) #2

It’s not an us vs them situation, have a good, easy to understand, easy to use product and it’ll happen.

But absolutely no to ‘SheTrade’ :joy:

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(Andrew Clark) #3

The name was just a joke but the truth is it isn’t happening.

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(Louis Otto) #4

Freetrade are doing a really good job of being super neutral (even the branding is pink, not to stereotype) and the tone of voice is really well-measured. There’s nothing inherently stopping women from using (and loving) the platform, it’s more of an education/interest thing.

In my opinion creating something like SheTrade is just as bad as Sheilas Wheels or something like that, but I do agree that they could reach a wider audience by advertising elsewhere.

(Alex) #5

How about SheHeTrade?

1 Like
#6

Still not able to persuade any of my friends to invest - those who have ISAs only have cash ISAs and complain about the paltry interest rates.

When I mention investments, they say they ‘don’t want to lose all their money’ because all that sticks in their mind is sensational news about stock market crashes… :persevere:

Anyway, found this website which looks quite good, although at first glance, can see lots of talk about cash ISAs…

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#7

Introduced my girlfriend to Freetrade. Now she spends more time checking for new stocks than instagram!

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#8

Hahaha that title! :joy: When I first joined the forum, I’ve just been lurking around and the first thing I noticed was almost all of the usernames are masculine. I thought to myself that investing isn’t just a girl thing. Like when I talk about it to my friends, although they say good things about me having ISAs, etc… they don’t really show interest in doing it themselves while the guys tend to ask more questions.
It seems to me that it has something to do with the norm where men are the ones who provide for the family while women are the ones to budget it and spend. No offense. :stuck_out_tongue:
I’ve always been independent and want to retire early so I’m not contented of slaving myself until I reach the age where I’m already achy. That goal really changed my mindset and got very interested in making my money work for me while I’m also working to help me speed up my goal. I started with a cash ISA some years ago just because I saw it when I was banking online but the interest I earned wasn’t even enough to pay for my takeaway meal each week so the search begins on how I can improve it. Opening my mind to a new world is probably one of the best things in my life. I’ll have to say that my knowledge in this aspect is so little that when posters here talk about tax, fees, dilution, etc…, all I can do is read everything and digest. And tbh, it bores me sometimes because I find it complex. :joy: But I love to learn so I just keep on reading until things are starting to become familiar.
Ask me about that attractive dress I bought or those lovely shoes I got on SALE. Oh dear, it sounds better than I love you.
So maybe to attract women to invest is to have a campaign where we get free lipsticks instead of free shares. :rofl:

5 Likes
(bertil) #9

I was at the Moneyfarm investor event a couple of month ago. They had invited a (female) financial journalist there who talked about the importance of saving. To do that, she talked about her working-class mother and grandmother and how she found cash (old bills) under her grandmother’s mattress after her passing. That story was very simple, authentic and sounded like something anyone could resonate with, but wasn’t openly pandering to a gender. It had a tone and a point of view that women in the room felt visibly comfortable with.
The journalist then made some fairly standard points on investing regularly, even over the last crisis, using a simulation — something probably easier to reproduce.

I think that talking about investing as something regular and common (typically a direct debit), something you do out of care for the next generation (possibly by suggesting to invest in companies who are carbon-positive for Freetrade generation), and something that is deeply tied to your idiosyncrasies (something that managed funds are not) would appeal to female investors more than gimmicks.

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(Emma) #10

Yes, this exactly. Investing has very very Alpha male image. And the fact it has its own language is another ‘not for people like me’ factor. Normalisation and plain English are two very important things for all groups who traditionally aren’t drawn to investing. Demystify it and make it seem as intuitive as a savings account. Also I think where Autopilot will be particularly useful

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(#18 414) #11

I can only bow

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(dyl) #12

I’ve been thinking that Freetrade could do with a ‘featured stocks’ page with themes, definitely ones featuring female leadership would be interesting! I’m not sure if they can implement something like that without it constituting as providing advice, though.

(bertil) #13

The point about investing regularly was actually pretty much this:


with a nice personal story around each investment date.

My first job was working for an asset management company that wanted to automate that kind of investment strategy (I know) so I can confirm it’s not just a story.

#14

That’s cute. If I had a penguin, I’ll name it peanut. :dancer:

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#15

I’m going to be slightly controversial here.

I have a lot of close female friends, but to my knowledge none of them actively invest in stocks. I guess women are just in general slightly more conservative and risk averse than men? We started a poker society when I was at university it was all guys, game theory classes, all guys, had an elective module where we could choose either Marketing or European Economics and the girls overwhelming chose marketing. I am not sure why this is but these are just my observations. Shetrade might be a hard sell, because i’m not entirely sure this audience is actively engaged in this subject in huge numbers, but yes, an untapped market nonetheless. Female forumites we are delighted to have you here however :slightly_smiling_face:

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#16

You’re not being controversial at all, @James101 - I’m the only one among my friends who invests and I think they see what I’m doing as taking great risk and akin to gambling.

I grew up seeing my mum taking an active part with my dad sorting out their investments so for me, investing wasn’t something to be afraid of, or only something that men did - everyone did it.

@Andrewpclark mentioned Mumsnet and I think he could have a point there - if a normal mum talks about how she’s investing longterm for the future using Freetrade, others may be tempted to look into it and think ‘if she can do it, so can I’.

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(Doug) #17

I’m trying to get my wife onboard (although being a yank she cannot use freetrade currently). Every time she sees money leave the account (now to freetrade) it sparks a slightly heated demand as to why that money did not go into the 0.25% savings account. I think it’s a mix of fear of the next financial crash, lack of understanding of the jargon (thus causing more fear) and belief that investing is complex. While investing can be complex, it certainly does not need to be and absolutely is not with freetrade. I think I need to introduce her to Bob…

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#18

You need to move that account!

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(#18 414) #19

(Doug) #20

Don’t I know it… The introductory rate was 1.5% but no more. I will be switching banks later this year, never to return.

1 Like