An opportunity to help people achieve their goals is the key factor that draws women to the financial planning profession, according to a report released Monday by the Certified Financial Planner Board of Standards.
Seventy-six percent of female college students and 69% of women changing careers reported that the relationship aspect of financial planning is an especially appealing aspect of the profession.
As a people-first profession, financial planning is a rewarding career for those who want to have a positive effect, according to Liz Miller, the CFP’s board chair.
“Yet, women currently make up just 24% of CFP professionals,” Miller said. “Bringing more women into the field is critical not only for meeting client needs but also for maintaining a firm’s competitive edge.”
The board commissioned Heart+Mind Strategies to summarize existing relevant academic and professional research and conduct new quantitative research. The firm polled 1,282 respondents across four strategically selected segments: current CFP professionals, other financial services professionals, female career changers and female college students.
The research also showed that women prioritize passion and energy in their work, along with financial and job security. College students place a premium on making a meaningful contribution, while career changers are especially motivated by better work-life balance.
Financial planning can deliver on these goals, offering stability, flexibility and the chance to improve people’s lives, the CFB Board said. Job satisfaction reported by female CFP professionals in the survey was exceptionally high at 93%, compared with 77% of women in other financial services roles — and 88% of male CFP professionals.
Engaging More Women
The board said it is crucial to raise awareness about the field, create flexible workplaces and offer mentoring support and leadership opportunities in order to advance women’s representation in financial planning.
Only 24% of female college students in the survey and 43% of female career changers said they were extremely or very familiar with financial planning as a career. However, interest in the profession jumped from 38% to 65% among college women and from 71% to 89% among career changers after they learned about the human-focused aspects of financial planning.
The CFP Board noted that women seek employers who support their well-being through flexible work arrangements, comprehensive family support, mental health resources and financial wellness programs.
Flexible work arrangements start with generous leave policies. The CFP Board’s 2025 compensation study showed that most financial planners receive substantial paid time off as well as access to parental leave. Even so, 51% of younger female CFP professionals said there is room for improvement.
Prioritizing workplace flexibility is essential for attracting top talent, the board said.
Strategic mentorship and sponsorship can play a vital role in helping female financial planners build skills, gain experience and exposure, and find belonging at work. Mentors can also guide mentees through certification processes, such as the CFP exam.
In addition, providing transparent career pathways with clear leadership opportunities helps attract and retain women in financial planning, as many early-career CFP professionals actively seek leadership development and support for both personal and professional growth.
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