Female reps make up only 16% of all advisors.

RBC Wealth Management says it is making a digital pitch to female advisors to highlight the role of financial advisors and what it takes to become part of the industry. The initiative includes several documentary-style videos that show the work of the firm’s top female advisors and how they became so successful.

“Some started out as rocket scientists, Beltway politicians, or translators for the Armed Forces, while others stepped into the business directly after college,” the Minneapolis-based firm said in a press release. Together, they speak to the common theme of the initiative: ‘Everyone’s Path is Different. They All Can Lead Here.’”

Meanwhile, Raymond James launched a new publication, “Aspire to Greater,” to attract women outside of the industry to consider becoming advisors and to help them and others realize the potential that a financial-services career can bring.

“Our goal with this [biannual] magazine is really to share stories that inspire and empower women advisors, and to serve as a conversation starter to help attract more women to our industry,” the company said in a statemement. “Recognizing that there isn’t another publication quite like this out there right now, we felt this was one more way we could help move the needle on increasing the number of women in our industry.

According to Cerulli Associates, women make up about 16% of the U.S. advisor workforce, though women make up 50.8% of the total population and are set to own some $3.2 trillion of wealth in the future.

“This [new] publication is an investment in women, an ode to those who have traversed the rocky path and a source of inspiration for those taking the first steps,” explained Michelle Lynch, vice president of the Raymond James’ Network for Women Advisors, in the first issue. “It will celebrate the successes of women in the financial services industry and offer valuable insight that can help you grow your business.  

Research done by the Insured Retirement Institute found that 70% of women seeking advisors say they would prefer to work with a woman.

“Adding more women to our advisor ranks is good for the industry, good for our business, but most of all, good for our clients,” explained Kristen Kimmell, chief of staff at RBC Wealth Management, in a statement. 

Latest Recruits

RBC said on Tuesday that it recently welcomed the Carbonell Forrey Wealth Management Group to its office in Walnut Creek, California, near San Francisco. The team includes advisors James Carbonell and Matthew Forrey, as well as senior investment associate Amy Caffese.

It has some $365 million in assets under management and used to be with Wells Fargo Advisors (which is based in San Francisco). Each team members have been in the business for at least 15 years.

“Jim, Matt, and Amy are extremely well-respected industry veterans who are known in the Bay Area for helping clients achieve their goals,” said Michael Schipper, director of RBC’s Northern California complex, in a statement. “RBC Wealth Management is actively recruiting client-focused financial advisors in the area that fit our unique and refreshing culture.”

For Carbonell and his partners, “The most impressive piece for us [about RBC] … was the fierce focus on the client/advisor relationship. It’s truly a special culture.”