Building a Diverse Practice: The Value of CFP® Certification to Female Advisors

Wealth management firms with female CFPÒ professionals stand to reap significant rewards.

Boston, April 29, 2021 – Research indicates that gender plays a role in the financial advisor/client relationship. Women who work with female advisors are more comfortable discussing financial topics compared to women who work with male advisors. Female baby boomer clients are set to control most of the US$30 trillion in financial assets owned by baby boomers by 2030 as they outlive their male partners. This is just one of the several demographic trends that is driving the need to increase female advisor representation in an industry that has traditionally been dominated by men.

This study, commissioned by Certified Financial Planner Board of Standards Inc. (CFP Board) and produced by Aite Group, identifies the distinctive characteristics that female CFPÒ professionals bring to wealth management practices and clients. This Impact Report is based on an Aite Group survey of 400 U.S. financial advisors conducted in Q3 2019 and on a follow-up survey of 122 advisors fielded by CFP Board.

This 18-page Impact Report contains 12 figures and one table. Clients of Aite Group’s Wealth Management service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions CFP Board, Merrill Lynch, and McKinsey & Company.

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