The future of advice is looking more female

By Heather Hopkins | 08 March 2022 | 2 minute read

Recently I posted on LinkedIn about a trend we’re seeing from our research that points to the future for financial advice looking more female.

The post got a huge response – all of it positive.

Small but significant steps

We shouldn’t get too carried away. There is still a long way to go to redress the gender imbalance among qualified financial advisers and planners but our findings do indicate that things are moving in the right direction.

It comes from research with financial advice professionals for an unrelated piece of work for a client. Reviewing the results, I noticed this split:

  • 12% of the male respondents were 65+ compared to 0% of female respondents.
  • A third (33%) of the female respondents were under age 45 compared to a quarter (25%) of the male respondents.

There were, of course, fewer female respondents but if we keep recruiting young females into the industry, we’ll continue to see the mix shift, which has got to be good news, both for the industry and those seeking advice.

Not enough to go around

While I’m happy to see the balance shifting, I am in no way calling for the over 65 males out there to pack it in. We need you. The sad fact is there just aren’t enough good financial planners and advisers to go around!

Let’s celebrate the diversity that is coming through.

    Direct to your inbox

    To stay up to date with what's next in wealth subscribe to our newsletter