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Thursday, May 8, 2014

Why We Need More Women In Investment [INFOGRAPHIC]

In a country where women are expected to control two-thirds of consumer wealth in the U.S. over the next decade and to become the recipients of the largest transference of wealth in our country’s history, it’s surprising to see the lack of women within the investment industry. Perhaps even more shocking, is the industry’s response to it.

Let’s take a step back and get a sense for the role of women in the financial services arena. Within our industry, women make up only about 30 percent of the total populace of U.S. investment advisors. At hedge funds, women fill fewer than 20 percent of C-level positions. And at venture capital and private equity firms, only 13 percent are made up of females, who fill only 12 percent of C-level desks.

This begs the question, where have all the investment women gone?

Money Concepts financial advisor, Susan Sukys, weighed in on the topic, “The industry has historically been predominantly male, so there's a natural time delay for women entering the industry… The same evolution has been seen for physicians, attorneys and other professional, formerly male-dominated professions.” In many instances the world of financial services is still perceived as a scene out of Mad Men, a boys’ club of sorts. Financial advisor Rebecca Muller adds, “It’s a field that women typically are steered away from. I think it’s a cultural thing that is slowly being overcome.”

Fortunately for us, Money Concepts advisors like Susan Sukys, Rebecca Muller and Cheryl Boyer have chosen the path of financial service in order to educate and empower clients to make the financial decisions that will help them live more enriched lives. “Women bring to this industry a natural tendency for nurturing relationships which is conducive to building effective and profitable client-financial planner relationships,” said Boyer. They encourage other women to join their ranks.

What would it take for more to follow in their footsteps? Our advisors felt that if women were more knowledgeable about the profession and what it means to be a true financial planner, the more they would be drawn to be a part of it. Popular media often negatively spotlights the moneymaking side of the industry; but, there is a more holistic, sharing-of-information approach to this profession that supports clients in their goals, building their path to success personally, professionally and financially - and that is what needs to be seen. The more women who enter the field, the more role models will be created for young women to emulate and hopefully, over time, the balance on the scales will shift and the gender representation within the industry will be equalized.

Sukys noted, “This field is immensely rewarding, but challenging. It is not for the faint of heart. You are an advocate and guide for individuals and families with financial goals, which ultimately can add significantly to their quality of life, not just in the present, but also for future generations. It's a privilege to partner with clients on these impactful goals, and you'll want to be prepared to shoulder that rewarding responsibility.” And if that’s not enough, Muller points out that the flexible work schedule allows financial advisors to enjoy an engaging and impactful career, while still being available to your family. So not only is a career as an advisor personally and professionally rewarding, it will also provide you and your family with the resources to do anything you want to. “The short answer - Join us and Just Do It!” she exclaims.

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