The Idea Behind HerMoney
Carol Brick has been working with self-employed professional contractors through CWM Wealth Management Ltd since 2008 and noticed an increasing number of female contractors who had huge gaps in their retirement and protection plans. This led to CWM Wealth Management Ltd carrying out a detailed survey to take a closer look at this situation. The survey interviewed 106 self-employed professional women and found that:
- Only 47% had private pension plans in place.
- 45% claimed to have pension policies in place from previous employment contracts with 52% never having reviewed these policies and with no idea about how they were performing or even how much they would be worth in retirement.
- 50% of those surveyed did not have appropriate life cover in place and over 70% were unaware of the advantages of same.
- Only a mere 20% of respondents had appropriate income protection cover in place.
Carol, a busy working mother herself, identified the need to make businesswomen more aware of the huge importance of appropriate financial planning, so HerMoney was formally set up in February 2017.
We are an all female team of experienced Qualified Financial Advisors (QFAs) and our focus is to help other professional women set and achieve their financial goals. HerMoney have agencies with all the main product providers in Ireland which means we are not tied to one company.
HerMoney is also a member of Brokers Ireland and our team are individually all members of the Life Insurance Association (LIA).