Did you know that, according to a Pew Research Center study, “the economic gains associated with marriage are greater for men?”
Had you realized that, as of 2008, women managed 1% of mutual funds and 3% of hedge funds, but those who managed those funds tended to outperform? It’s true, says research from the National Council for Research on Women. From January 2000 to May 2009, women-owned funds averaged 9.06% annually, dramatically outperforming the Hedge Fund Research (HFR) composite index, which averaged 5.82%, according to HFR.
Women have a great deal to offer as wealth managers, and clients realize and appreciate this. More and more women are taking on senior roles on Wall Street, in family offices, RIAs and Broker/dealers and making important contributions, both in advisory and executive roles, in academia and in Washington.
At the White House and Treasury Women in Finance Symposium at the end of March, Secretary of the Treasury Tim Geithner opened the confab noting the New York Magazine article entitled “What if Women Ran Wall Street?” Mere weeks later, SEC Chairman Mary Schapiro, FDIC Chairman Sheila Baer, and Chairman of the Congressional Oversight Panel for TARP, Elizabeth Warren, were on the cover of Time, and in the cover story, “The New Sheriffs of Wall Street.” All three are 50 Top Women alums.
Join WealthManagerWeb.com on June 9, at 3 pm EDT, with two of our 50 Top Women in Wealth, Michelle Smith, Co-founder and Managing Director of Alexandra & James Co., LLC, and Amy Webber, President and COO of Cambridge Investment Research, Inc., as they discuss trends at the top of independent RIAs and broker/dealers. Sign up here for this free Web seminar.
Co-founder and Managing Director of Alexandra & James Co., LLC
A wealth management boutique and multi-family office, located in New York, for high-net-worth wealth investors. Smith is president of the firm’s divorce strategies subsidiary.
President and COO of Cambridge Investment Research, Inc.
An independent broker/dealer in Fairfield, Iowa, with more than 1,800 affiliated registered representatives, and more than $35 billion in assets under management.
Editor in Chief, WealthManagerWeb.com