“This initiative seeks to empower young women with insights on how they can gain a financial head start and safeguard themselves from commonly made financial mistakes.”
CMC Markets Singapore has announced a partnership with Sophia, Asia’s first and only female-focused financial education platform, to promote financial literacy amongst young Singaporean women.
The FX and CFD brokerage made the announcement ahead of the International Women’s Day, March 8, as it aims to raise awareness and knowledge on basic money management and investing by leveraging the Sophia Women network.
Sophia establishes connections with prospective female customers
Sophia’s mission is to close the financial literacy and investment gap for women. The organization partners with firms like CMC Markets to establish connections with current and prospective female customers; acquire new female customers by using Sophia’s courses as a marketing tool; strengthen relationships with existing female customers through trust-building and loyalty-enhancing strategies; and support and engage female customers during their investment journey.
As part of the collaboration, CMC Markets has sponsored an education series comprising eight modules on topics surrounding money management and investing, that Sophia will seek to distribute to 130 Singaporean women aged 17 and above, through polytechnic and university partners in Singapore.
These modules include topics such as making budgets, managing debt, mindful spending, and benefits of starting to invest early, amongst others. The education series will be accessible via a link that will be given to the polytechnic and university partners from Sophia.
How young women can gain a financial head start and safeguard themselves
Daphne Tan, Head of Corporate Social Responsibility at CMC Markets Singapore, said: “In today’s economy, it is essential to learn how to make your hard-earned money work harder for you through the right investment knowledge and tools. This initiative seeks to empower young women with insights on how they can gain a financial head start and safeguard themselves from commonly made financial mistakes. As experts in the financial markets, CMC Markets is well positioned to understand the challenges faced by the female demographic with investing, making this initiative a meaningful one as we seek to help women work through these challenges for International Women’s Day.”
Tanya Rolfe, Co-founder of Sophia, commented: “There are more women than ever in the workforce, but many are lacking the financial knowledge and confidence to make investment decisions. We seek to find the right partners to help bridge that gap and we are pleased to have CMC Markets onboard to support our cause. With the expertise and knowledge of investing that CMC Markets brings to the table, we get a little bit closer to making financial education accessible to all and bringing women what they truly are in need of, this International Women’s Day.”
CMC’s Singapore operation is also soft-launching the CMC Invest Singapore platform at the end of 1Q 2023, which will offer Equities, ETFs, Options and Futures to its customers.
