The contribution of women to the global economy continues to grow. In October 2024, Goldman Sachs, in partnership with 8 Acre Perspective, surveyed 345 financial advisors, including 132 female advisors, to understand asset allocation trends, the client experience, and the changing wealth management landscape.
All survey respondents had $100M+ AUM, with at least 10% of their clients having $5 million or more in AUM. Key takeaways from this research include:
- Advisors overwhelmingly agree on the need for more female financial advisors; 85% of surveyed advisors believed that more female financial advisors would empower more female investors. Further, 83% of advisors agree that demographic diversity helps with client acquisition/retention (e.g., female client may want to work with a female advisor).
- With women growing as a financial force in coming years, there is an increasing commitment among advisors to help women achieve their financial goals.
- When it comes to investing, there were no significant differences between male and female advisors. However, differences do exist by channel (IBD, Wirehouse, RIA, etc.).
