I am blessed to have a mother who is both my personal and professional heroine.
A successful financial advisor for three decades, Mom took me under her wing to learn the family trade. The lessons she taught me have not only shaped the way I do business, but also how I look at the world.
More women could use that kind of guidance getting into (and staying in) financial advising. According to the U.S. Bureau of Labor Statistics:
- There are 270,000+ personal financial advisors nation-wide.
- That number will jump 15% through 2026 – much faster than the average job outlook.
- Fewer than 20% of personal financial advisors are female.
With Women’s History Month upon us, the numbers and nostalgia got me thinking about my mom’s example and how we can all encourage more women to join our industry.
- Be a mentor. Mentoring is an excellent opportunity to guide female talent as they embark on a career in financial advising. Most universities have programs that connect students from all backgrounds with professionals in their respective fields. Contact the career center at an institution of your choosing (such as your alma mater, perhaps) to ask how you can offer your expertise.
- Build your community of influencers. Identify other women advisors within your community, starting with your broker-dealer. I found my peers by joining LFN’s The WISE Group (Women Inspiring, Supporting and Educating). As a result, I’ve attended regional meetings and annual conferences, where I get to learn from other women advisors and formulate life-long friendships. Many of us face similar professional dilemmas, and WISE tackles the challenges and opportunities unique to our business by bringing women from Lincoln and other firms together to share insights and best practices related to our field.
- Get active on social media. Don’t be afraid to share your expertise and participate in industry-related conversations on platforms like LinkedIn. These days, most up-and-coming professionals network online. Join recognized groups that foster career development among women, especially those in financial advising, and start talking!
If you’re searching for even more inspiration to help empower female advisors, check out this past blog post with tips on becoming a super-connector.
Emily R. Woodson, M.Ed., CFP® – Biography
Emily R. Woodson, M.Ed., CFP® is a Manager Partner of the Financial House in Centreville, Delaware. She holds the CERTIFIED FINANCIAL PLANNER™ (CFP®) Professional certification and is a registered representative of Lincoln Financial Securities Corporation. Emily serves on the Advisory Board for Lincoln Financial Securities and is a member of National Association of Insurance and Financial Advisors (NAIFA). She helps clients build and create wealth over time, attain a sense of security for themselves and their loved ones, untie financial knots, plan for the future, and make purposeful and informed financial decisions.