It’s no secret that the financial advisor industry is a male-dominated one, and if you’re a woman looking for financial advice, it can be daunting to lay your finances on the table with a male advisor. Opening up to a financial advisor doesn’t have to be scary, but if you’re looking to work with a female financial advisor to make that initial meeting feel more comfortable, you are well within your rights to do just that!
Here are our top 5 reasons that you should choose a female financial advisor when you’re looking for independent financial advice.
When it comes to working with a female financial advisor, we know the unique challenges that women face in the financial world. We know that women tend to earn less than men and often take time off work more than their male counterparts to have babies, care for their children or care for elderly relatives.
These two factors alone can make it more difficult for you to save for retirement or reach your financial goals and female financial advisors have a deeper understanding (oftentimes even a firsthand understanding) of these challenges and the ways to best approach your finances and financial goals.
When it comes to investing, women tend to be more cautious and also tend to have different priorities when it comes to their money. A female financial advisor knows these worries and concerns well and they may be able to understand and address your concerns and priorities in a way that a male advisor may not be able to do.
When it comes to sharing deeply personal information, like your financial situation, you may be more comfortable sharing that information woman to woman. This may be particularly relevant in delicate situations like divorce or domestic abuse. It’s easier to trust someone that you relate to, so having a financial advisor that is also a woman may make it easier for you to be more comfortable and more open sharing the details of your finances and your life.
When it comes to sharing information about your finances, particularly the nitty gritty details, it’s important to talk to someone who has experience – even lived experience – in your unique situation. When you work with a female financial advisor, chances are that they have had similar experiences or can relate to your experience more than a male financial advisor may be able to. Working with a female financial advisor who knows exactly what you’re going through whether it be relationship changes, career changes or lifestyle changes can help you to navigate the process easier and in a more comfortable environment.
While we definitely aren’t suggesting men aren’t emotionally intelligent, it’s no secret that women are generally associated with having higher levels of empathy and emotional intelligence than their male counterparts. This is crucial when it comes to communication around sensitive subjects, particularly when it comes to the topic of money.
It’s crucial for financial advisors to handle their clients' situations with empathy and care and you may find you receive a higher level of empathy when seeking advice from a female financial advisor.
We know that finding a female financial advisor can sometimes be difficult, and we pride ourselves on having Jess Brizuela on our team if you’re looking to work with an experienced female financial advisor.
At Allied Wealth we have an experienced team of financial advisors, including female financial advisors, that can help guide you through your finances whether you’re looking for retirement planning advice or investment advice.
Contact us today to find out how our team can help you find the female financial advisor you’ve been looking for!