The number of women in finance may not be as typical as you might find in other professions. According to Investopedia.com, based on an Investment News survey, approximately 18% of the country’s independent financial advisors are women. In an industry so dominated by men, some young women may feel intimidated to pursue the profession. However, just because women are not currently as populous as men in this field does not mean that they are less of an asset.
According the Bureau of Labor Statistics, the national average annual wage for Personal Financial Advisors is $118,050. At present, 12% of Sigma Financial advisors are women, and 28% of these women earn more than the national average. For perspective, 88% of all financial advisors at Sigma Financial are men, while 19% of these men earn more than the national average. This goes to show that although the percentage of women advisors is quite a bit smaller, their value to the profession is not.
Several organizations support, promote, and recognize exceptional women in the financial services industry. “Women in Insurance and Financial Services” or “WIFS” is an organization “…dedicated to attracting, developing and advancing women in the insurance and financial services industry.” Another organization, “Financial Women’s Association,” or “FWA,” begins its mission “To accelerate the success and leadership of women across the financial community…”. These are just two of the organizations that promote the empowerment of women in this industry. Sigma Financial has a “Women’s Forum,” which brings together the women of our company and acknowledges them as exceptional individuals in what is still a male-dominated profession. With multiple support organizations and initiatives dedicated specifically to women in financial services, we are hopeful that future generations of women will embrace their financial calling and make this industry one that is gender-neutral.
Has your firm committed to a plan for growing the percentage of women in the financial industry? We have….
Notes supporting statistics and quotations above, and for further information:
Neufeld, D. (2015, August). Independent broker-dealers with the most women advisors. Retrieved from the Investopedia.com website: http://www.investopedia.com/articles/financial-advisors/081215/independent-brokerdealers-most-women-advisors.asp
Occupational Employment Statistics. (2015). Retrieved from Bureau of Labor Statistics website: http://www.bls.gov/oes/current/oes132052.htm
WIFS. (2016). Retrieved from “President’s Message” https://wifsnational.org/
FWA. (2016). Retrieved from “Our Mission” http://fwa.org/