“The financial planning profession is expected to expand by 32 percent by 2020, more than twice as fast as other professions, according to the Bureau of Labor Statistics.
Noting that 70 percent of women would prefer to work with a woman advisor, the need and the opportunity are present to recruit more women in the financial advising profession.”
This report from Insured Retirement Institute’s new study as reported by FA-mag.com on May 6, 2013.
Women make up only about 30 percent of the financial planning professionals in the U.S. This is despite the fact that, as of 2009, 8 million businesses in the U.S. were majority-owned by women and women controlled two-thirds of U.S. consumer spending.
“Firms are well advised to review their recruitment practices and workplace policies to attract more women into the financial advisor profession,” IRI states.