The Main Advantages

of Women

Financial Advisors

During a forum back in 2010, then president of Citi

Personal Banking and Wealth Management said that

America would never have experienced the 2008

financial crisis if it was the Lehman Sisters and not the

Lehman Brothers.

That being said, the financial services industry is still

u dou tedly a a ’s orld.

Based on a report by the Bureau of Labor Statistics,

only 31% of financial advisors in the US are women,

which means almost 8 out of 10 financial brokers and

consultants are men.

This is contraindicative to the recent findings of a

research done by Pershing, a financial consultancy firm

under the BNY Mellon group, which revealed a

projected rise in demand for women financial advisors.

From the standpoint of financial advisor recruiters,

this is a simple economic situation – high demand and

low supply equals a lot of opportunities.

If you’re a o a i the fi a ial i dustry, this is a great time to look for better jobs and greener

pastures.

In doing so, it pays to know what your main advantages

are over your male counterparts.

This will allow you to strongly position yourself during

job interviews.

So, what exactly are your key

advantages as a female financial

advisor?

Women Understand Women

Women-owned businesses account for trillions of

dollars per year.

According to the same report from Pershings, female

investors are more likely to hire financial consultants

than their male counterparts – 46% versus 36%.

The study also shows that female

clients are more likely to develop a

long-term and loyal relationship

with a consulting firm.

Not coincidentally, most of these

women entrepreneurs prefer to

hire female advisors.

Why do you think that is?

For one, it is a consensus in the industry that women

clients require more intensive consulting and they

take more time than female clients.

This is because female investors are more

detail-oriented.

Also, the number of wealthy women who are not

necessarily investors or entrepreneurs is rising.

These are those who just got divorced, was recently

widowed, etc.

They have real money and they need help in

managing their finances.

According to financial services recruiters, this new

breed of rich women are more comfortable working

with female consultants because they are more

patie t, are typi ally good liste ers a d ould ’t mind hearing about the personal stories of their

clients.

Women Generate Clients in

More Varied Ways than Men

According to the 2012 Fidelity Broker and Advisor

Sentiment survey, 71% of female wealth managers

attend industry gatherings and in-person seminars.

This is significantly higher compared to the 36% of men

who attend such networking events.

The report says nothing conclusive about this

i for atio ut it’s easy to dra a edu ated hypothesis – women develop more connections and

therefore, more opportunities to acquire new clients.

Also, women are more open to clients who are looking

beyond the traditional investment platforms.

Experts also observe that female

financial advisors are craftier in

promoting their expertise.

Carol Pepper, the woman behind the

New York-based investment firm

Pepper International wrote a book to

promote her services.

Chapin Hill Advisors president Kathy

Boyle often gives speeches to create

thought leadership for the firm.

She also use blogging as a tool to

reach potential clients.

Women have made and are continuously making their

mark in the financial services arena and though they

are still out u ered, it ould ’t e surprisi g if they equal or surpass the number of financial advisors in

the future.

If you’re a o a fi a ial ad isor a d you a t to take advantage of the current high demand for

female consultants, a financial services recruiting

firm can give you access to the best opportunities

available.

The team of financial service recruiters at Willis

Consulting, Inc. can help you on your next career

move. Visit www.willis-consulting.com for more

information.