Financial Planners are launching a new dedicated female-only planning service “run by women for women”.

East Midlands-based Cockburn Lucas has created Cockburn Lucas for Women.

CL4W will be headed up by Jo Noon and supported by the advisory team at Cockburn Lucas, with the aim to “close the gender investing gap”.

The business will focus on issues facing women following divorce and bereavement and will have “less emphasis on jargon and statistics”.

Ms Noon, who has 20 years’ experience as a Financial Planner, explained why it is the right time for such a service.

She said: “As women in general live longer than men they often end up in control of the purse strings, which requires specific planning advice. Sadly, despite improvements in pay inequality, women still tend to earn less than their male counterparts and also take more career breaks, which can have a profound effect on their own retirement planning outcomes.

“Another important consideration is the situation covering pensions and divorce, especially in view of the new pension freedom rules. So, I felt a women-only service, to help women through some of the most traumatic moments in their life, will provide the expert advice they need in a more caring and empathetic way.”

CL4W will aim to create a “sisterhood” by teaming up with other women-only professional services providers including lawyers and tax advisers, and specialists within the health and protection sector.

The service will also provide a range of “greener” investment solutions for those clients wanting the option of ethically screened funds.