Ladenburg Thalmann (LTS) said 85 female advisors affiliated with its independent broker-dealers and advisory firms met last week in Salt Lake City for the fifth-annual Women & Finance Symposium.
The reps, who are with Securities America, Triad Advisors, Investacorp, MS Financial Services and Securities Service Network, discussed practice-building strategies and emerging issues within the financial-services industry with about 100 other guests.
"Our annual event provides a supportive and collaborative forum for women to learn, connect and grow with one another," said Jaime Desmond, COO of Ladenburg Thalmann Asset Management, in a statement. "Thanks to the commitment of our event sponsors, speakers and network of advisors, the Ladenburg Institute of Women & Finance Symposium is truly making it easier for female advisors to excel and grow their businesses."
This year's event featured remarks by Colonel Jill Morgenthaler of the U.S. Army veteran, who authored "The Courage to Take Command." She is the recipient of the Bronze Star and the Legion of Merit and served as head of homeland security for the state of Illinois.
Other speakers include Philip Blancato, president and CEO of Ladenburg Thalmann Asset Management; Sheri Fitts, president of ShoeFitts Marketing and a financial industry influencer; Kristina Hooper, managing director, U.S. investment strategist and head of U.S. capital markets research and strategy for Allianz Global Investors; Jeff Lanza, retired FBI special agent and consultant on identity theft, cybercrime and fraud; Karen Leparulo, president of Leparulo Consulting and a behavioral finance specialist; and Stephanie Markiewicz, senior vice president of government relations for Fidelity Investments.
During the event, the institute introduced new mentors and mentees through the LIFT Mentoring Program, now in its fourth year.
“The institute and the symposium grew out of our commitment to support and invest in the future of female advisors. Our commitment to this mission has resulted in increased recruiting and retention of female advisors across the Ladenburg organization," said Ladenburg President & CEO Richard Lampen.
The percent of female reps in the LTS broker-dealers ranges from about 28% at KMS to nearly 31% at Triad, according to “Financial Planning Magazine.”
A recent study from Glassdoor found that the insurance and finance industries have two of the highest gender pay gaps after accounting for factors such as age, education, experience, location, occupation, job title and company.
Within the insurance industry, the gender pay gap for women in the United States is 7.2%—the second highest gap. And within the finance industry, the gender pay gap for women is 6.4%—the seventh highest gap.
Ladenburg Thalmann, which includes about 4,000 advisors, expects to report its third-quarter earnings on Nov. 4.