Broker Check

Using the Great Resignation to drive gender diversity in the industry

We know that women are woefully underrepresented in the ranks of financial advisers. They make up more than half of the U.S. population, but represent only 15% to 20% of all advisers, according to Barron’s.

Yet, women are expected to control nearly 200% more of U.S. wealth by the end of the decade, reaching approximately $30 trillion of investible assets as the great wealth transfer continues, according to McKinsey & Co. Many of these newly affluent women will prefer to work with other women to manage their financial futures.

And all of this is happening even as aging financial advisers are leaving the business far faster than they’re being replaced.