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Women and Finance

So as many of you know, I specialize in working with entrepreneurial and professional women and do tons of research about women and money. Today I want to share with you some interesting facts about Women and the Financial Industry. A lot of these statistics are why I focus on serving women. I think there is a huge need for advisors to change the way they work and communicate with their women clients. Here is why:

  • Only 20% of women investors have a financial advisor. But 70% would like to work with a female planner. 1

  • Only 31% of financial advisors in the U.S. are women. 1

  • 84% of women say their female advisors listen to them and understand their investing needs, compared with 15% of women who said their male advisors sometimes listen to them and understand their investing needs.2

  • 44% of females working with a female advisor said they were “extremely satisfied” versus 24% of women working with a male advisor who answered the same.2

  • 63% of women say advisors of the same gender actively help them build knowledge, while 23% of females with male advisors say they “sometimes” get help in building investing knowledge.2

  • These numbers are even more impressive given that women possess at least half — if not more — of all private wealth in the country and control 80% of all household purchases.1

Now, I am not saying that if you are a woman you have to work with a woman financial planner or advisor BUT you do need to work with an advisor who will listen to you, understands you and your financial goals and concerns and will educate you on all your options.

My recommendation is be to make a list of the top characteristics or qualities you want out of your financial planner. That way when you are meeting with professionals you know what to ask about and look for. Basically, the list would be what is most important to you out of that professional relationship.

Call to Action-make a list of the top 3 things you want out of your financial planner. Analyze your current relationship with your financial planner to confirm they meet these requirements or use then when meeting with a financial planner for the first time.

Thanks for watching my Money Byte, remember to Subscribe to this youtube channel, follow me on twitter and like my facebook page. See you next time! This is Britt Castro of

Britt Castro, CFP® and Founder of Financially Wise Women

Like us on Facebook, Follow me on Twitter,!/Brittneycastro

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  1. Source-ING Financial Advisors

  2. Source-“The Gender Gap” by Noreen Beaman, Investment News Magazine, March 2012 from the Global gender Gap Report by the World Economic Forum