Mindy Diamond Quoted – Financial Advisor IQ – Many of the qualities that make women excellent financial advisors are also keeping them from making the move toward independence, Mindy Diamond writes in InvestmentNews. At the same time, many female advisors who have taken the plunge share certain characteristics, she writes.
By Mindy Diamond – InvestmentNews – The wealth management industry seems to have all the markings of being a “natural fit” for women. Women tend to be more nurturing and relationship-driven than their male colleagues. They thrive on their innate abilities to connect and be empathetic — key traits that power their delivery of an exceptional experience to clients.
Mindy Diamond Quoted – By Vanessa Drucker, InvestmentNews – Emotional intelligence is a core asset for any adviser, and one where women often excel. But serving as a financial adviser is not the only role in the advice industry where women can shine. Today, women are making an impact in a variety of professional roles, ranging from marketing and recruiting to compliance and technology.
Howard Diamond Quoted – By Murray Coleman, Financial Advisor IQ – The numbers just don’t add up. Nearly 51% of the population is made up of women, according to the U.S. Census Bureau. And by some estimates females represent a majority of the $3 trillion-plus in generational wealth transfer expected to take place in coming years.
Howard Diamond Quoted – By Liz Skinner, InvestmentNews – Female financial advisers are not attracting an equal share of client assets compared with their male colleagues, and the picture looks especially bleak at RIAs, new data show. “Women advisers in the RIA channels may be newer and just getting into the industry,” said Howard Diamond, managing director and general counsel at recruiting firm Diamond Consultants Inc. “They also may be joining smaller firms and it’s taking them longer to ramp up.”
By Mindy Diamond – InvestmentNews – The headlines keep reminding firms: Hire women advisers. And with a lot of good reason behind them. Of course, it’s politically correct to do so and satisfies a diversity initiative. From a business growth perspective, studies have shown that women clients prefer to work with female advisers. And it’s always a public relations bonanza to hire women.
By Mindy Diamond – Why the recent push to recruit women advisors? Of course, it’s politically correct to do so and satisfies a diversity initiative. From a business growth perspective, studies have shown that women clients prefer to work with women advisors. And it’s always a PR bonanza to hire women. And while women may be reading this and cringing, truth be told, these statements represent the reality that we are dealing with.
Mindy Diamond Quoted – By Paula Vasan, Financial Planning – According to a new study, the financial advisory industry is growing rapidly, while it’s shutting out women. Although women’s involvement in the sector has increased — women now comprise 36% of the industry, up six percentage points from 2003 — the gender pay gap has also grown over the past decade, according to a study by consumer website NerdWallet.
By Mindy Diamond, Investment News – 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.
Mindy Diamond Quoted – By Kevin Noblet, The Wall Street Journal – Recruiter Mindy Diamond believes that, when it comes to their careers, some women advisers are just too trusting and others fail to set their own expectations high enough, Financial Planning says. Speaking at a women advisers’ conference in Boston, Ms.Diamond also listed failing to have a clear succession plan as a mistake some make. Men, of course, commonly do that, too.
