Women are a substantial and growing segment of the demographic that needs financial advising. The importance of understanding where women are coming from financially, what their individual needs are, and helping them without ‘mansplaining’ to them, can not be understated. Just as women are fighting the disadvantage of the wage gap, so too is there a gap in the financial advisement.
Some examples of women’s financial strength follow.
As of December 2014 there were 74 million women in the professional and technical workforce which makes them a greater part of that segment than men. Women are also earning secondary degrees at a greater number than men which means the future will see a greater influx of highly educated women into the workforce.
From 1908 to 2008 the number of women in the global workforce doubled to 1.2 billion.
Single women-headed household with assets over $100,000 are a large, growing segment of the retail investor market.
In 2009 North American and European women controlled over $14.4 trillion which equals two-thirds of the global wealth controlled by women.
Because of their longevity women are inheriting more money than before.
And yet the wage gap persists, and women consistently retire with less money. Some of this discrepancy can be attributed to the time taken off to raise children, but women should not be penalized for contributing to our society. We at Advanced Wealth Advisors LLC are excited about the prospect of meeting women where they are are building up a wealth portfolio ensure not only their future financial security but to let them know we acknowledge their wealth muscle and their financial and social contributions to the world.