I can think of very few industries that are as male-dominated as the financial services industry. In fact, according to a 2012 Cerulli Associates Inc. report, only 7.9% of financial advisers were women, whereas according to a 2012 U.S. Census, 50.7% of the population was female. This small percentage of female advisers becomes more of a mystery to me the longer I work in this field, and the more I meet and work with high-caliber female advisers.
Why are there so few? After all, we are relationship geniuses, multitaskers, sensitive, trusting, empathetic, patient and good listeners. The traits that make many of us good mothers also make us great financial advisers. Yet women are reluctant to enter the financial services field, with its male-dominated culture, complete with the notion that women cannot excel. In my experience, there are other specific reasons why the industry has not attracted more women.
