The Ideal Advisor: Why Women Are the Perfect Fit for the Advisory Industry

BACKGROUND

The role of women in home finances is changing.

63%

63% of women under the age of 45 are the financial decision-makers in their families, compared to 37% of older, married women.

$30 Trillion

An unprecedented amount of assets will shift into the hands of US women over the next three to five years, representing a $30 trillion opportunity by the end of the decade.

70%

70% of widows switch financial advisors within a year of their partner’s death.

And yet, only 15% to 20% of financial advisors are women.

As a woman-owned business focusing on financial services/insurance, Zeldis is interested in exploring the barriers and challenges women face in the advisory industry and understanding the unique qualities and strengths they may bring to the table.

 

OBJECTIVES

Identify the career barriers and challenges women face in the advisory industry.

Explore women advisors’ perceptions of what, if anything, differentiates them from their male counterparts.

  • How did they learn about/get interested in the field?
  • How do they view the opportunities and barriers for women in the field, past, present, and future?
  • What specific challenges and barriers have they, themselves faced?
  • What, if anything, would they like to see the industry do or change to be more welcoming and encouraging to women?
  • How, if at all, could this be facilitated by different elements of the industry – financial providers/carriers, investment banks, wirehouses, educational institutions, etc.?
  • Do they have unique qualities and strengths they bring to the table?
  • Do they differ on how they target and acquire clients and/or how they build client relationships?
  • Do they approach investing or planning differently?
  • Do their clients view them differently?
  • Do they interact with financial providers (e.g., wholesalers) any differently and do they have different priorities for what financial providers need to deliver?

RESEARCH FINDINGS

Watch a video capture of the recent webinar discussing the research findings of this study, and download the presentation deck.

 

METHODOLOGY

  • Sixteen, 60-minute, in-depth video conversations with women financial advisors
  • Mix of channel, years of experience, geography, AUM
  • Moderated by women researchers at Zeldis with decades of financial services experience.

 

LEARN MORE

To learn more about this Zeldis Thought Leadership research study, please contact Amy Rey, Executive Vice President.