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Franklin Templeton MF has launched a new campaign #ChangeTheSoch to strengthen women MFDs. What’s the rationale for this?
The #ChangeTheSoch campaign was conceptualized to challenge deep-rooted societal perceptions around women and money, not just how women see themselves, but more importantly, how society views their role in financial decision-making.
Traditionally, women in India have always managed money within households, often with great skill. Yet, this natural ability hasn't translated into recognition or representation in formal financial roles. The campaign aims to change the narrative, to shift the perception that finance is a male-dominated domain and to advocate for equal visibility and credibility for women in financial services.
What key challenges does it aim to address?
The campaign aims to address two key challenges:
- Changing societal perceptions that view finance as a male domain.
- Creating space for women to be seen and heard, as investors, advisors, and decision-makers.
What specific strategies is FT planning to deploy to change the broader narrative in the finance industry?
- We have conducted dedicated FT Academy sessions designed exclusively for women who are either already in the mutual fund distribution business or are exploring it as a career option.
- We have been organizing financial literacy and investor education programs focused solely for women.
- We have made a conscious effort to foster financial awareness among the women who work with us, not just those in the sales and marketing teams, but across departments.
- At the same time, we’re also doubling down on our efforts to reach working women, those who are actively earning and managing money, and guiding them toward investing in mutual fund products.
What are the most common gender biases you’ve observed in the Mutual Fund industry?
Gender bias in the mutual fund industry is real, though it often manifests subtly. One of the most visible gaps is in leadership and front-facing roles. While there are many women in operational and support functions, far fewer are seen as fund managers, senior leaders, or key decision-makers.
Another common bias is the perception that women are better suited for execution or servicing roles, but not investment strategy or client advisory.
There’s also a lingering hesitation in the society to trust women as financial advisors, and they may unconsciously defer to male distributors even when the female advisor is equally or more qualified.
These biases reflect larger societal norms but the mutual fund industry has an opportunity, and a responsibility, to lead change.
The #ChangeTheSoch campaign is a step in that direction. It’s about shifting perceptions, not just among investors but also within the industry, so that women are seen as equally credible, capable and essential to the growth of the financial ecosystem.
Given the limited representation of women in leadership roles, what can the mutual fund industry do to ensure better female representation at the top?
- Create enabling infrastructure: Facilities like on-site or partner crèches, lactation rooms and family support benefits can make a big difference. Many women exit the workforce due to caregiving demands, not capability.
- Make flexible work models: Remote work, hybrid setups and flexible hours shouldn't be seen as exceptions, they should be part of the culture.
- Design mentorship and sponsorship programs: Women need not just mentorship, but active sponsorship, leaders who advocate for their growth, ensure visibility, and open up stretch assignments.
- Have transparent promotion pipelines: Organizations should regularly audit internal promotion data by gender, identify drop-off points, and build interventions to address them.
- Make leadership accountable: Set gender diversity goals at leadership levels, with KPIs tied to performance reviews. What gets measured, gets managed.
- Encourage inclusive hiring practices: Ensure that shortlists for leadership roles are diverse. Use blind screening and structured interviews to reduce bias in selection.
- Introduce returnship and career re-entry programs: For women who’ve taken career breaks, structure “returnship” programs.
- Ensure recognition and visibility: Proactively showcase success stories of women leaders in MFs, not just internally but across industry platforms.
Tell us about the scale of the campaign.
These are short films and made in English and Hindi (Hinglish) to help reach the message across India. The message is a serious and bold one, packed in wit and humour. Our media mix was greatly influenced by our creative choices: Different versions of the campaign could have been tailored for specific demographics, including women investors, young professionals and even financial advisors to address their unique experiences.
