In February WealthManagerWeb.com conducted the 2010 Top Women in Wealth survey–the second annual survey of U.S.-based women who manage wealth. The survey was open to women at all types of firms: wirehouse, independent broker/dealer (B/D), and registered investment advisors. As always the survey findings are fascinating.
To those who took the time to complete our survey, thank you!
Of the women who participated, a whopping 82% were principals, owners or partners in their firms. The majority, 60%, are registered investment advisors, and of those, 70% are registered with the SEC rather than state registered. The range in asset and clients is wide: from $13 million to $18.8 billion in assets under management (AUM), and from advising three to 1037 households.
Uncertainty about regulation was the most pressing concern of these participants. Many expressed the opinion that they’d like to see the fiduciary standard extended to cover all who provide advice to investors. That’s not particularly surprising since most are RIAs who are already fiduciaries. They by-and-large don’t want to be regulated by FINRA, they say.