According to research by Deloitte, the number of women who reach the highest level of leadership in financial services is on the rise, with women holding 18% of financial C-suite positions globally. But the research also says that number is climbing slowly — without a more concerted effort, women financial leaders may not even reach 25% by 2031.

Lindsay Hans, President and Co-head of Merrill Wealth Management, is working to change that. In her role, she’s committed to lowering the barrier to entry for women financial advisors — including being a strong advocate for their new training program which is more attractive to female advisors who may not have a pre-existing network of wealthy connections.

Takeaways: 

• Historical reasons, such as wealth distribution and demographics, have contributed to the underrepresentation of women in the financial services industry. 
• The presence of women in leadership roles in the financial services industry is slow but increasing
• Younger women are increasingly knowledgeable and comfortable with financial decisions.
• There is a preference for financial advisors of the same sex, but it varies on a case-by-case basis.

Chapters:

00:00 - Introduction

06:51 - Lindsay Hans Career Advancement

16:20 - Initiatives to Support Women Financial Advisors

20:40 - Advisors and Client Relationships

25:58 - Challenges in Attracting Women to Financial Advisory Role

30:15 - Conclusion

More money news when you need it! Get the latest and greatest updates on all things investing, budgeting and making money. Subscribe to the HerMoney newsletter at Hermoney.com/subscribe!

Learn more about your ad choices. Visit megaphone.fm/adchoices