Gaping Gender Gap Widest in Neediest States

By on September 6, 2013. Posted in .

A recent article in Investment News 1 points out a survey that found seven of every ten women wanted to work with a female financial advisor. The story cites data showing only 20% of all financial advisors are women. This is what you could comfortably call imposing odds.

The dearth of women who give financial advice is nothing less than startling. Women have increased their individual wealth over the past few decades. They have individual and specific financial challenges, not the least being longer lives than men. After divorce from or the death of a spouse, a woman may inherit the job of managing assets for the first time.

These and other unique challenges make it is imperative that women investors find empathetic and reputable partners to help them achieve their financial goals.

But how do you find that financial partner? If you’re a woman and feel more comfortable working with a female financial advisor, where do you look?

Finding the Right Fit

WealthGuard can help you find an advisor with whom you feel most comfortable—whether you prefer to work with someone who can most closely identify with your life circumstances or not. What’s clear is that women are seeking financial counsel more than ever.

We have found anecdotally that our female clients typically fired and rehired an advisor within three years after the death of their spouses. Divorcees often change financial advisors more quickly, sometimes within a year of a divorce.

This reality and the fact that women are controlling a greater proportion of this country’s wealth may ultimately attract more women into the advisory profession.

In the interim, talk to us. We can help you find the perfect financial fit in a financial advisor.

1 Investment News, Good luck: Wealthy single women seeking female advisers, by Liz Skinner, 6/25/13 2013

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