We knew we could do better; 6 ways Verve serves women

Author Verve Team
Posted on 2 April 2019
We knew we could do better; 6 ways Verve serves women

Women face an uphill battle when it comes to saving sufficiently for a comfortable retirement. Yet, we are less likely to seek out financial advice, in part because we collectively distrust our financial service providers more than any other industry —the Banking Royal Commission has proven why.

Men lead 93% of financial service companies and ‘gender neutral services’ developed by the industry often fail to understand and meet the needs of women. As a result, women are too often poorly served and disengaged.

We knew we could do better.

Prior to launching Verve, we surveyed hundreds of Australian women like you (women of colour; women with disabilities; financially wealthy women and less financially wealthy; university educated and life educated; old and young). We asked women what they wanted from a financial service provider and Verve was designed from these voices.

Here are some of the ways we serve women better:

1. Our services are tailored for women, and delivered by women

From our financial coaching resources and workshops, to the wonderful women who answer our member calls, we tailor everything for women and we ensure that our services are delivered by women. Here’s a quote from a member, which shows why this matters:

“Thank you so much team Verve. I called yesterday and spoke to Alex. I was worried that my questions about super were silly and stupid, but she was so supportive, and made me feel completely at ease. I tend to manage the finances for my family, but when we last spoke to our adviser every answer was directed to my husband. With Verve, I feel listened to and respected — that’s a first for any bank or superfund I’ve ever called” — Lisa, member since December 2018

2. Our fees are fair, transparent and structured for the lives of women

Our superannuation fund product is ethical and is invested with a balanced-growth strategy. Our fees are fair, and you can review fee information here.

To support members entering the workforce and receiving super for the first time, or members who have withdrawn the bulk of their super due to hardship, Verve ensures that the Annual Membership Fee is not charged when a member’s balance is lower than $1,000.

We offer a BabyBump fee rebate for Verve Super members of any gender who have recently become new parents, whether by birth or adoption, it’s a small way we try to reduce the super gap caused by women taking time out of the workforce to have children. Read more here.

3. We provide free financial coaching and guidance

All members have access to Verve’s flagship online ‘6 Step Money & Mindset Program’ through the Verve Academy. We offer free online webinars and regular meet-ups and financial workshops for our members.

Our coaching programs are delivered by Verve Co-Founder Zoe Lamont, an award winning financial coach. Zoe is available online each week to answer your money questions.

All of our coaching is informed by what our members want to learn.

 

Verve’s 6 step Money & Mindset Program

4. We support women to take individual action to make super fairer in their own lives, while we advocate collectively for a fairer system

We support women to take action to make superannuation fairer in their own lives; if you’re going on parental leave, we can contact your employer for you to ask them to keep paying you super, or provide you with the resources to do so yourself.

We also support you to make super fair in your own relationship by contribution splitting and additional personal contributions as easy as possible. Contact us at hello@vervesuper.com.au for any support.

At the same time, we work with dozens of women’s organisations, and organisations which support women to make superannuation and our financial system fairer for women.  Verve is an active member of the Financial Inclusion Action Plan network and Economic Security 4 Women.

Verve CEO Christina Hobbs, in conversation with legendary Australian feminist  Jane Caro

5. We behave ethically, and we invest your money ethically, to build a world women want

Ethics lies at the heart of Verve.

Anyone who works for Verve, must demonstrate a career or volunteer history and passion for serving women.

None of the women who serve you earn commissions or bonuses for the work they do, there is no push selling, and our resources and communication are all designed to help you understand whether Verve is the right fund for you.

We provide simple and clear fee information on our website and in the Verve PDS. We are happy to answer any questions you have and our commitment is to be as transparent as possible.

Because of our commitment to ethical business, we will never invest you super in industries that harm society or destroy our environment. We also won’t invest your money in companies that refuse to put a woman on their board. Check out the industries we do and don’t invest in here.

6. We are real women, and we love serving our members

We know that most women want to be served by people who care, not robots. We love talking to our members and anyone who is interested in Verve. You can call us on: 1300 799 482 or send us an email to hello@VerveSuper.com.au. We are genuinely concerned in the financial decisions and wellbeing of our members, and all women, is of the utmost importance. Every question is an opportunity to share knowledge and build the wealth of our community!

Our team work flexibly juggling, work, care and spending time with loved ones

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Co-Founder & Head of Engagement, Alex Andrews

 

It’s time for super that’s designed for you

At Verve, we know that the reasons behind the retirement savings gap are complex, so we’ve designed a superfund based on: empowering women through knowledge; investing and behaving ethically; and advocating for changes to the retirement savings system to make it fairer for women, and all people, who take time out of the workforce to care for others.

Our team have dedicated much of their careers to women’s financial power and equality. We only work with industry partners who share our vision and ethics. Our diverse fund management team have a strong track-record of high performance in ethical investment.

Our promise to you: we will listen, learn, serve and provide radical transparency. We’re here to serve you throughout all stages of your wealth journey.

We love receiving feedback, if you’d like to share your  thoughts, drop us a line at hello@vervesuper.com.au or call us on: 1300 799 482.