Barbara Herman Quoted
By Susan Konig
The financial advisory industry is struggling with a shortage of talent, thanks in part to a post-recession reputation challenge and a sometimes closed, largely male, culture.
Opening up employment opportunities to women advisors would seem to be a natural solution. “Women haves historically been fee-based and relationship-oriented in their businesses. While these types of businesses take longer to build, we know they are the key to this industry’s future,” says Barbara Herman, Senior VP of Chester, N.J.-based recruiters Diamond Consultants.
Estimates vary widely, but the Dept. of Labor says that 31% of the nation’s financial advisors are female, and that number has not changed much in the past ten years. While nearly all B/Ds have ongoing diversity hiring initiatives, there is room for improvement when it comes to courting and retaining talented female advisors.
