We’re in a relationship business and women are good at relationships; so it should come as no surprise that, when given the opportunity, women succeed at all levels of the financial services industry.
As we work to meet the needs of women investors, our industry can greatly benefit from having well-trained, experienced women financial advisors.
In 2010, women made up less than one-third of personal financial advisors, according to the U.S. Bureau of Labor Statistics. Meanwhile, the 2010 Catalyst Census of Women Executive Officers found that women comprise less than a quarter of all senior officers in the financial services and insurance industries. A study published by American Express stated that in 2011, just 20% of finance and insurance firms are owned by women.
On the other hand, small businesses owned by women are expected to create many new jobs in the United States over the next few years. In December 2009, a report from The Guardian Life Small Business Research Institute estimated that women small business owners will be responsible for creating between 5 million and 5.5 million new jobs across the United States by 2018. This amounts to over half of the 9.72 million new small business jobs and about one-third of the 15.3 million total new jobs the Bureau of Labor Statistics believes will be generated by that year.