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Focused on the Future
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An Investment in Women Is an Investment in the Future

Enacting corporate strategies and initiatives that foster an environment where women professionals can succeed is not complex, but it must be intentional, actionable and measurable.

Wealth Management firms that want to win business must do more to support women. Two significant trends make this an incredibly smart move. The first generation of women advisors is facing retirement and wants to find like-minded partners to sell their business to or a younger advisor to train to take over. Simultaneously, the largest transfer of wealth in history will put trillions of dollars in the control of women

Both groups want to work with women. 

Countless studies suggest women prefer working with a financial advisor who is also female. However, industry surveys suggest that only about 20% to 30% of our nation’s financial advisors are women. How can experienced women advisors ensure they find a partner that shares their values and approach? How can we ensure women clients needing astute financial guidance can be served in a way they want by the professionals with whom they feel most comfortable? 

We must actively advocate for the advancement of women in wealth management and ensure we are training the next generation of women advisors to address the needs of both key demographics.  

The Road Forward

As providers of financial services, we spend our careers espousing the importance of investing for the future. Let’s take our own advice and invest in our women professionals. It’s easier than you think. There are tangible, easy-to-implement steps firms can take to meaningfully impact this gender disparity and strengthen our industry’s ability to meet clients’ needs.

Supporting education, empowerment and networking programs for women are mission critical to wealth management firms’ ability to grow in the future—especially when helping retiring advisors find a potential next-gen advisor to take over their book of business. Enacting corporate strategies and initiatives that foster an environment in which women professionals can succeed is not a complex undertaking, but it must be intentional, actionable and measurable.

Steps Along the Way

Below are some proven tactics for championing your firm's women advisors and driving progress toward a more inclusive industry. 

  • Support Continuing Education for Non-Traditional Employees. Women represent about 25% of all Certified Financial Planner professionals. Firms can support women aspiring to the CFP designation or other accreditations by providing tuition assistance, peer support and flexible work hours for preparation and study. It also means they need to look at career changers, Generation Z and caregiving women returning to the workforce as potential planners. They need more than advocacy but an introduction to the career path and an understanding they don’t have to master the entire investment landscape; rather, these designations realign the industry toward client goals.
  • Create a Mentorship Program. Leverage the expertise of veteran financial professionals by pairing them with junior advisors or other employees considering a move to advisory. Critically, advisors who are three to five years from retirement should take on mentees, as they have a generation of experience to provide and may find a potential successor in the process. 
  • Encourage Networking. Organizations such as The W Source, a professional platform that facilitates women-to-women networking opportunities across industries on a local and national level, offer a unique ecosystem that promotes connectivity and engenders mutual success. 
  • Provide Coaching. In-house or outsourced coaching programs are an efficient way to capture skills, build confidence and set goals. 
  • Participation. Be mindful of the advisors you spotlight at your firm’s conferences. Provide opportunities for women professionals to present their expertise, participate in peer sessions or lead discussions. Also, encourage attendance at industry events for both networking and educational purposes.

At The AmeriFlex Group, we’ve set a goal of reaching gender parity among our partner advisors by the end of next year. We prioritize an inclusionary environment, provide women-to-women mentoring and invest in our employees’ success with a tuition sponsorship program. 

We've already seen results, and once we've attained our initial goal of parity, we will continue introducing initiatives to keep the momentum going. Our industry is at an inflection point—and so is an entire community of aging advisors and millions of younger investors. Let's take the opportunity to meet these challenges head-on. 


Hannah Buschbom is The AmeriFlex Group’s Chief Transitional Wealth Planner and founder of The W Source, a women-to-women networking and support platform. Thomas Goodson is the Founder and CEO of The AmeriFlex Group

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