Women Get an Earlier Start Than Men in Financial Planning

financial advisor

When considering offering additional services to clients, accountants could pay attention to this bit of statistical information on financial consulting: Women early in their careers are more likely than men to become financial planners.

A new report, The Cerulli Edge―U.S. Monthly Product Trends Edition, showed that by gender 31.3 percent of women are financial planners, compared to 21.6 percent of men.

On the other hand, for other advisory practices,  in money and wealth management, the number of men outpaces women: 13.2 percent of men and 6.4 percent of women are money managers, while 6.2 percent of men and 2.9 percent of women are wealth managers.

In investment planning, there’s little gender difference, with 59.4 percent of women and 59.1 percent of men offering that service.

While both genders (94 percent of women and 84 percent of men) in the early stages of their career indicate a strong interest in wanting to help clients reach their financial goals, men (81 percent) are far more likely to be interested in investment topics, compared to women (59 percent).

So why does Cerulli’s report indicate that the numbers of men and women in investment planning are about equal despite the guys being more interested in investment? It’s got to do with the different degrees of investment planning.

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About Terry Sheridan

Terry Sheridan

Terry Sheridan is an award-winning journalist who has covered real estate, mortgage finance, health care, insurance, personal finance, and accounting and taxation issues for newspapers, magazines, and websites. A Chicago native and former South Florida resident, she now lives in New England.


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