Women have long been overlooked in the financial services industry. But now that a growing number of studies have revealed the positive benefits of female financial advisors, it’s becoming increasingly obvious that this segment of the industry is worth keeping an eye on. Here’s an overview of the key benefits that female financial advisors have to offer, and some tips on how to find one near you.
Studies have consistently found that women are more likely to invest with their clients’ financial interests in mind. This approach often yields better overall performance, as women are less likely to make overly risky investments in favor of long-term gains. Additionally, women are often more pedantic and less prone to errors, meaning they can provide better performance oversight and ensure that clients’ investments are sound.
The competence of female financial advisors is only part of the equation. Studies have found that women are also more likely to show both empathy and an understanding of their clients’ unique histories and their individual financial goals. This more holistic approach ensures that a financial plan is tailored to the specific needs of their clients, rather than a generic one-size-fits-all approach.
Finally, female financial advisors have the ability to create an atmosphere of trust and comfort which often leads to improved client satisfaction. This is particularly helpful for those who may be intimidated by dealing with financial advisors, or who don’t have much experience in the market.
So, if you’re in the market for a financial advisor, it’s worth considering the potential benefits of working with a female financial advisor. You can start your search by looking for a CERTIFIED FINANCIAL PLANNER (CFP) or a Chartered Financial Analyst (CFA) near you. Additionally, you can look up female-run financial advisory firms, or look up financial advisors with the Certified Financial Planner Board of Standards.
Overall, the research is clear - female financial advisors provide a unique level of competency, trust, and understanding that you won’t find with male advisors. So, make sure to take the time to find a female advisor that meets your needs. It could be the best financial decision you ever make.