can help prospects identify with a firm more readily.
Several years ago, an advisor told me how he works
successfully with clients of different races and his
observation applies to gender. People are most comfortable
with their “own tribe,” he says, and having a diverse staff
can help foster relationships with a wider range of clients.
The stumbling blocks
So what’s behind the low participation rate? In April 2014,
the CFP Board in Washington, D.C., released a study, “Making
More Room for Women in the Financial Planning Profession,” as
part of its Women’s Initiative. Among the findings from the
• Women lack awareness of financial planning as a career path.
• Women harbor misperceptions about financial planning.
• Women’s reluctance to take professional risks may be keeping them from entering
the financial planning profession.
• Gender discrimination and bias exist within the financial planning profession, likely
resulting in women feeling unwelcome and unsupported.