There’s an unfortunate tendency among journalists to become inured to issues long before their readers. That’s because day in and day out we’re immersed in those issues, judging whether we’ve written too much about a topic or too little. At our daily editorial meetings, one of us frequently will test the validity of a “pitched” story idea by asking, “How does this advance the story?” If we think we can better serve our readers by writing yet another story about the Fed or social media or how to get referrals, we do so.
Our cover story this month is a good example of such a topic: women.
Mark Tibergien rails against the notion that women can be considered a niche for advisors. “How can you call a group a niche when they constitute more than 51% of the population?” he asked incredulously at the second annual Junxure conference in mid-September. Why should advisors pay more attention to the wife of a client couple?
One reason is that women increasingly control more money. Surveys show that widows or divorcees are highly likely to fire their (ex- or deceased) husband’s advisor.
In the same talk, Tibergien reiterated his well-honed point that there’s a talent shortage in the industry, and that engaging more young people and women to enter the profession may be the wisest way to relieve the talent shortage.
So in our cover story, Executive Managing Editor Danielle Andrus, Washington Bureau Chief Melanie Waddell and I sought answers to why the number of female advisors has been stalled somewhere in the 15%-25% range for what seems like forever.