Why So Few Women Opt for Independence — and How More Could
Mindy Diamond Quoted
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.
Just 13% of the breakaways so far this year were women, according to Diamond, founder and CEO of financial recruiting firm Diamond Consultants, who cites InvestmentNews data. And among the companies Diamond’s firm assisted over the past three years, only 7% of the breakaway deals included female leadership, she writes.
What’s keeping women from making the move is precisely what often separates them from men: their loyalty, their focus on their clients’ needs over building their business, their stress on competing work-life priorities and their risk-averseness, according to Diamond.