As I launch Maura Madden Financial Planning, LLC., my intention is to expressly not be a stereotypical financial planner. Instead, I am a Feminist Financial Planner. The distinction is important, as I will be focusing specifically on the financial world as it applies to women and society. This does not mean my work excludes men, but it is centered around women and those who were socialized as female.
Since I am a financial planner you may be expecting a blog that is full of investing tips and financial knowledge. I certainly include plenty of financial information in my writing and will be highlighting topics related to money.
**if you are here for the investing tips you may want to look elsewhere – that is totally not my thing. Investing is very personal and I don’t believe that specific (or even general) advice should not be broadcast to large audiences. But that is a topic for another day…
Traditional Financial Planning Has Overlooked Women
Within the traditional sphere of personal finance, which has its foundation in patriarchy, women are often ignored. When women are acknowledged it is as a target market. In industry publications you will see plenty of articles stating that more money is moving into the hands of women, followed by instructing on how advisors and planners can appeal to these female potential clients. There is frequent conversation on the financial planning topics viewed as “female”: Longer life expediencies, challenges of being a caregiver, the wage gap. It is necessary to recognize the differing financial needs of women. Unfortunately, that is usually where the conversation ends.
Rarely is there any discussion of how to best provide service to women. Rather, the focus seems to be on how to manipulate women into behaving like men. (Sound familiar? I’m guessing that more than a few readers have experienced this in employment, education, consumerism, and many other areas of life.)
I believe that this is where feminist financial planning can step in and actually address the needs of women through communication methods, relationship building, and topics of discussion.
The Industry’s Patriarchal Origin
My position is that the financial services industry was created for, and continues to focus upon, a select portion of the population. The communication, topics of emphasis, and methods of engagement are created to appeal to and be accessible to educated white men. The industry was never created for Women and BIPOC people. The patriarchal roots of finance date back to a time when neither of these groups had or was intended to have access to money.
As our society emerges (albeit much too slowly) from the era of white male domination, we also need to reshape the financial industry.
In establishing my firm, my goal is to create an environment that is welcoming and accessible to those with marginalized identities. My primary focus is upon women because that it my area of knowledge and experience. I do welcome into my space people of all genders with whom my work resonates. There are certainly many men and non-binary people who are not being well served by the current financial industry model. My objective is to meet people where they are with compassion and to help them understand and take control of their money in a way that makes them feel good about themselves.
Intersectionality
Social justice and feminism are inexorably intertwined. I don’t believe that I can consider myself feminist if I am not concerned with justice for all. Kimberly Crenshaw, who coined the term Intersectional Feminism, has said “Cultural patterns of oppression are not only interrelated but are bound together and influenced by the intersectional systems of society. Examples of this include race, gender, class, ability, and ethnicity.”
Succinctly, I wish to make finance more accessible to women and that includes all women. I cannot do this without also including women of color, transgender women, individuals socialized as women, women with disabilities. My work is not just about money, it is about how money functions within the context of our society. Therefore, as a feminist finanical planner, you will find that my newsletter and blog cover a wider array of topics than some may expect from a financial planner.
Thank you for taking this exploratory journey with me to the intersection of feminism and personal finance. I have spent the past two decades working daily in the world of finance. Though I have always supported feminism and social justice, I have only seriously revived my interest and taken steps to substantially grow my knowledge within the past few years. I have never before run my own business. So, I appreciate your support and patience as I move forward in merging all of these areas into what I hope will be an authentic and space providing value to both my clients and my community.