Working With a Female Financial Adviser

Working with a Female Financial Adviser
January 12, 2018
Kathleen T. Owens, Financial Adviser, Fiduciary

Women have different life experiences and unique needs that men don’t sometimes understand. A 2013 study by the Insured Retirement Institute found that 70% of women seeking a financial advisor would prefer to work with a female advisor. By working with a female financial adviser, you can be assured that your life perspective and feelings about money will be understood. I get what your concerns are. I get that you are pulled in many directions by your family and your career. Women, and especially married women with children have many responsibilities, that can sometimes feel overwhelming.

I chose to become a financial adviser because I saw that women were not being serves well by the financial services industry. Only recently have women caught the attention of the financial services industry and this is because women now control approximately 51% of the wealth in the U.S. and this number is growing. By 2020, the number will grow to 66.6%.

The financial services field is (still) a male-dominated field, as only about 2% of financial advisers are women.

However, great things are happening and more financial advisory firms are being established by women for women. If you have been working with a male financial advisor and you feel he is a good fit for you, that is great. But if you want to work with a female financial adviser, you now have more choices, which is a good thing.

This field can be a good career choice for women because women naturally have the skills that are needed to be a good adviser. Women tend to be empathetic and have good listening skills. Women are collaborative and proceed carefully with prudence.

I am hopeful that more young women will look at this field as a possible career choice. I believe we need more women in the financial advisory field.

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