PLANADVISER - November/December 2019 - 36
practice management
To Surmount the Gender Gap
T
The financial adviser industry works to change with the times
he financial adviser management
industry has a well-known gender
gap. In 2018, of the 537,000 financial
advisers accounted for by the Bureau
of Labor Statistics' Current Population
Survey (CPS), 33.5% were women.
According to J.D. Power researchers,
the average age of financial advisers is
55, and advisers under age 40 account
for just 11% of the whole adviser population.
Couple these two statistics and
it seems there is a distinct opportunity
for firms to contemplate-and start
working on-plans to recruit recent
college graduates who are women.
Jania Stout, practice leader and
co-founder of Fiduciary Plan Advisors
in Baltimore, says there have always
been more men in financial services
and adviser roles, while traditionally
women have gravitated toward the
operations and relationship management
side of the business. Although
people recognize the male domination
in advising, how to make the field more
gender-balanced has not been clear.
" I think women in general think
that path's what they have to take, so
inertia seems to keep the status quo, "
Stout says.
A Good Fit if You Can Find Them
The advisory business seems a good
potential fit for many women. A 2018
survey of rookie advisers by Cerulli
Associates identified that an interest
in financial planning and a desire to
help people reach their financial goals
were
two values somewhat more
important to women than men.
Women might also appreciate the
flexibility. Offering the ability to work
remotely has been very successful
at Atlanta Retirement
Partners in
Atlanta, said Stephanie Hunt, a retirement
plan consultant at the firm, who
spoke at the PLANADVISER National
Conference (PANC) in September.
" Young folks don't want to sit at a
desk all day and commute. "
" The problem, " says Stout, " is
36 | planadviser.com November-December 2019
Art by Wesley Allsbrook
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PLANADVISER - November/December 2019
Table of Contents for the Digital Edition of PLANADVISER - November/December 2019
Foul Weather Fund
2019 PLANADVISER Practice Benchmarking Survey
Streamlining the Process
To Surmount the Gender Gap
NQDC Guidance
Employee-Owned
Continued Growth
The Extent of Obligation
Cyberfraud
How to Protect Participant Data
PLANADVISER - November/December 2019 - C1
PLANADVISER - November/December 2019 - FC1
PLANADVISER - November/December 2019 - FC2
PLANADVISER - November/December 2019 - C2
PLANADVISER - November/December 2019 - 1
PLANADVISER - November/December 2019 - 2
PLANADVISER - November/December 2019 - 3
PLANADVISER - November/December 2019 - 4
PLANADVISER - November/December 2019 - 5
PLANADVISER - November/December 2019 - 6
PLANADVISER - November/December 2019 - 7
PLANADVISER - November/December 2019 - 8
PLANADVISER - November/December 2019 - 9
PLANADVISER - November/December 2019 - 10
PLANADVISER - November/December 2019 - 11
PLANADVISER - November/December 2019 - 12
PLANADVISER - November/December 2019 - 13
PLANADVISER - November/December 2019 - 14
PLANADVISER - November/December 2019 - 15
PLANADVISER - November/December 2019 - 16
PLANADVISER - November/December 2019 - 17
PLANADVISER - November/December 2019 - Foul Weather Fund
PLANADVISER - November/December 2019 - 19
PLANADVISER - November/December 2019 - 20
PLANADVISER - November/December 2019 - 21
PLANADVISER - November/December 2019 - 22
PLANADVISER - November/December 2019 - 23
PLANADVISER - November/December 2019 - 2019 PLANADVISER Practice Benchmarking Survey
PLANADVISER - November/December 2019 - 25
PLANADVISER - November/December 2019 - 26
PLANADVISER - November/December 2019 - 27
PLANADVISER - November/December 2019 - 28
PLANADVISER - November/December 2019 - 29
PLANADVISER - November/December 2019 - 30
PLANADVISER - November/December 2019 - 31
PLANADVISER - November/December 2019 - Streamlining the Process
PLANADVISER - November/December 2019 - 33
PLANADVISER - November/December 2019 - 34
PLANADVISER - November/December 2019 - 35
PLANADVISER - November/December 2019 - To Surmount the Gender Gap
PLANADVISER - November/December 2019 - 37
PLANADVISER - November/December 2019 - NQDC Guidance
PLANADVISER - November/December 2019 - 39
PLANADVISER - November/December 2019 - 40
PLANADVISER - November/December 2019 - 41
PLANADVISER - November/December 2019 - Employee-Owned
PLANADVISER - November/December 2019 - 43
PLANADVISER - November/December 2019 - Continued Growth
PLANADVISER - November/December 2019 - 45
PLANADVISER - November/December 2019 - The Extent of Obligation
PLANADVISER - November/December 2019 - Cyberfraud
PLANADVISER - November/December 2019 - How to Protect Participant Data
PLANADVISER - November/December 2019 - C3
PLANADVISER - November/December 2019 - C4
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