News and Opinion about Millennials surrounded by fintech & insurtech + Opinion by S. Ernest Paul

Female Investors And Financial Advisors – bridging the gap

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The reality is, female clients as a group have only recently been recognized as a priority by the financial services industry, and they represent an enormous growth opportunity. Women are gaining economic power and influence. We’re increasing in numbers in higher education, the workplace and government. In 2016, women earned more than half of all postsecondary education degrees: 57.2% of bachelor’s degrees, 59.2% of master’s degrees and 52.7% of doctorate degrees.

In 2017, women held the majority (51.6%) of all management, professional and related occupations in the United States. And we now hold one-fifth of the seats in Congress. We’re often the primary breadwinners in the family. Female investors are the “chief consumer officer” in households, and control 51% of all personal wealth in the United States.

The reality is, female clients as a group have only recently been recognized as a priority by the financial services industry, and they represent an enormous growth opportunity. Women are gaining economic power and influence. We’re increasing in numbers in higher education, the workplace and government. In 2016, women earned more than half of all postsecondary education degrees: 57.2% of bachelor’s degrees, 59.2% of master’s degrees and 52.7% of doctorate degrees.

In 2017, women held the majority (51.6%) of all management, professional and related occupations in the United States. And we now hold one-fifth of the seats in Congress. We’re often the primary breadwinners in the family. We’re the “chief consumer officer” in our households, and we control 51% of all personal wealth in the United States.

Right now, it’s a really pivotal moment for the financial industry as women and Millenials start to make more money and prepare for their future. I hope that our industry in 5 or 10 years will be even more diverse and give a realistic representation of the communities and world that we serve. And that success will be based on having both the investment expertise and the understanding of people that it takes to be a good advisor. I also hope there will be less of a discrepancy between the financial responsibility and wealth that women have, and the power that they can have in society. Ultimately, I believe that every single investor should be seen as an individual with a unique story and specialized investment needs, and I believe strongly that Columbia Threadneedle Investments will help us get there.

 

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