We need to keep pushing for meaningful change – Versed

The theme of this year’s campaign is Accelerate Action, meaning as well as celebrating the achievements of women and advocating for progress with issues that affect women, there is also a focus on how to speed up the rate of change and work towards a more inclusive, equal society. 

Versed Financial’s Kim Balasubramaniam (pictured, left) and Katrina Horstead (pictured, right) spoke to us to share their views. 

Who are you and where do you work? 

Kim Balasubramaniam and Katrina Horstead. We are the co-founders and directors of Versed, a full-service financial services company based in the beautiful cathedral city of Chichester in West Sussex. 

Sponsored

Introducing Lloyds Living

Sponsored by Halifax Intermediaries

How long have you been working in the sector? Have you always worked in financial services? When did you realise financial services would be a career for you? 

KB: I’ve been working in financial services since 2022, firstly as a mortgage and protection adviser and, more recently, adding full financial planning. I always had an interest and background in figures and finance – my degree is in mathematics and business, and my early career was spent working in exam design and statistical analysis in medical education. 

However, I chose to pursue my creative side and ran my eponymous wedding and event design studio for almost 17 years, and loved it – working with high-net-worth clients from across the globe who wanted to celebrate in style in the English countryside. Covid, however, put a stop to the wedding industry almost overnight, and I had had a niggling feeling that I wanted a change in career for a couple of years, so I decided to retrain and did my CeMAP during the pandemic. 

I always loved the logistical and planning part of running my own business, and at the time I was also in the depths of purchasing our forever home with my husband. I really enjoyed the whole process of trying to find the right mortgage and get what was a complicated property deal over the line. I now absolutely love working in financial services; the satisfaction of helping to secure a client’s home or empower them to reach their wider financial goals is immense. 

KH: My career in finance began with roles in local government and the NHS, but my passion for the mortgage industry was ignited at just 18 when I purchased my first home. That experience gave me an early appreciation of the home buying process, sparking a deep interest in financial services. This curiosity grew further when I was introduced to an IFA business through a colleague’s husband. 

Inspired by this, I pursued my mortgage and protection qualifications while continuing in my existing role. Once qualified, I embarked on my journey as a self-employed mortgage and protection adviser, building a thriving business over several years. 

After establishing myself in the industry, I took a step back to focus on my family and became a shareholder in a designer retail business alongside my husband, where I helped manage the company’s finances, website, and marketing operations. 

While I embraced the challenges of entrepreneurship in a different sector, my passion for financial services never wavered. In 2022, I returned to the mortgage industry, bringing with me a renewed perspective and a wealth of business experience. 

Do you feel like you worked harder than male counterparts to get where you are? 

KB: The financial services industry, like many others, has historically been male-dominated. While there have been challenges along the way, I don’t think it’s ever been an issue for my clients, whether male or female. 

The fact I’ve demonstrated my skills and capabilities consistently has meant I’m not underestimated, but there have been situations – like presenting at industry events – where I felt I had to go the extra mile to earn trust and respect. 

KH: There have been moments where I’ve felt the need to prove myself more, especially when starting out or in meetings where I’ve been the only woman in the room. That said, I’m proud of my progress, these experiences have shaped me into a more resilient and determined adviser. I’ve learned to navigate challenges and turn them into opportunities for growth. 

In what ways do you try to support women already in the sector or those wanting to join? 

KB: We actively try to create a supportive network. That means connecting with other female financial advisers and related industry professionals, sharing resources, and encouraging open discussions about the difficulties women face. 

Having a sense of community makes a huge difference, and I think it helps build confidence and a shared sense of purpose. I’ve had conversations with my colleagues and clients about the value of having more women represented in leadership positions and the positive impact that diversity can bring to the financial sector. 

KH: I actively engage in networks that connect female professionals in the sector. Sharing experiences, advice, and opportunities through these networks is vital. I also encourage other women to attend these groups or get involved in online forums, where we can all support each other and build a community of like-minded professionals. 

Acting as an advocate for this career is important too – I’ll often have conversations with women about the potential of a career in mortgage and protection advice, especially when they might not have considered it. It’s an incredibly rewarding and fulfilling industry to work in, and we need to encourage more young women to explore this field. 

The theme of IWD this year is ‘Accelerate Action’, highlighting there is still a long way to go until we reach genuine gender parity. Do you feel like the financial services sector is progressing at a satisfactory pace? What more can be done? 

KB: There has been progress in the financial services sector, but while we’ve seen more conversations about diversity and inclusion – and some firms have made genuine efforts to support women in their careers – there’s still a lot of work to do to achieve true gender parity. 

Women are still under-represented in senior leadership roles and on boards, and still only 18% of IFAs are women. There are some great initiatives in place to support women, like mentorship programmes and flexible working arrangements, but the implementation and impact of these can vary widely. There can also be a misunderstanding that working flexibly is the same as working less, which in our experience is absolutely not the case. 

The sector still has a long way to go to create an environment where women can thrive and reach the top without facing barriers that their male counterparts don’t encounter. 

KH: We still attend meetings and industry events and can’t help but notice the small number of women who are also there – sometimes it’s quite shocking. While there has been movement, we need to keep pushing for more meaningful and sustained change. 

The theme of ‘Accelerate Action’ really resonates, as it highlights the urgency of addressing these issues and ensuring that the financial services sector truly becomes a place where gender parity is not just a goal, but a reality. If we can continue to support one another, share opportunities, and break down the barriers that exist, we can create a stronger, more inclusive industry for future generations of women in finance. 

When it comes to gender equality, where do you think financial services has done well? 

KB: There have been some positive strides in recent years – one of the most standout improvements has been in flexible working policies. Many firms offer flexible hours, remote working options, and better work/life balance, empowering women to build and sustain long-term careers. We’re beginning to see more female leaders – absolutely incredible women in key roles, who provide thoughtful, determined leadership. And, ultimately, that visibility is what matters.

If we see women represented at all levels of the industry, we are going to encourage more women to join, build their careers and inspire others.