Gender Diversity Is Great for Your Business

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Gender Diversity Is Great for Your Business

May 13, 2014

As of last year, only 25.7% of “personal financial advisors” were female, according to Catalyst, a New York-based organization that advocates for “more inclusive workplaces.” But this doesn’t mirror the wealth market. Women already control most of the personal wealth in the U.S., female-owned businesses pump $3 trillion a year into the economy, and women are due to inherit roughly 70% of $41 trillion in intergenerational wealth transfers expected to occur in the next forty years, says a 2012 report in the Harvard Business Review.

Perhaps with these statistics in view, the CFP Board, which governs the Certified Financial Planner [certification], is out to end a “feminine famine” it sees reflected in the fact that only 23% of CFP[® professionals] are women. Again, though, the idea of getting more women aboard is framed in terms of strategic advantage, not redressing inequality. Read more >

Financial Advisor IQ
By Thomas Coyle
May 13, 2014
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CFP Board’s leadership and representatives are available for interviews and speaking engagements on personal finance, the financial planning profession, CFP Board and the CFP® designation.

Did You Know?

Among clients who work with an advisor, 87% of those working with a CFP® professional are satisfied or very satisfied, compared with 72% of those who work with an advisor without certification.
Anyone can call themselves a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
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