Women continue to have growing impact and influence in wealth management. In fact, by 2030, women in the U.S. are expected to control $34 trillion—38% of all investable assets—according to McKinsey & Company. This dramatic shift presents both opportunities and challenges for the financial advice industry.
Despite this growing financial power, many firms are failing to effectively engage female clients. Research from Vanguard shows that up to 70% of widows leave their spouse’s financial advisor within the first year of their partner’s passing. This signals a critical gap in how firms communicate with and serve female investors. Without the right strategies, tools, and tailored approaches, advisors risk losing a key segment of their client base.
We are at a pivotal moment. On one hand, the transfer of wealth to women creates significant business opportunities for advisory firms. On the other, advancements in technology are transforming financial advice by automating administrative tasks, allowing advisors to focus more on personalized client engagement.
Rethinking Financial Advice for Women – and for Everyone
Managing wealth for women requires a nuanced and thoughtful approach. Female investors are financially savvy, proactive in seeking information, and focused on long-term security. They are living longer, running businesses, inheriting wealth, and increasingly seeking a more collaborative approach to financial planning—one that prioritizes their unique goals and life circumstances.
Advisors should consider the complex career and life transitions that many women navigate, such as maternity leave, caregiving responsibilities, and career shifts. Effective financial planning for women must be flexible and adaptable to these realities. A study by Ellevest found that women’s top financial priority is supporting their families, while men’s primary focus is growing their retirement savings. This highlights the importance of integrating financial planning with life and family goals, ensuring that advice aligns with what matters most to female investors.
However, making financial advice more accessible to women isn’t just about tailoring services specifically to female clients—it’s about improving financial advice for everyone.
The Evolving Role of Technology in Client Engagement
The financial advice industry must evolve in how it communicates with clients, both male and female. Investors engage with financial advice in different ways, and firms must meet them where they are—whether through digital tools, personal consultations, or a hybrid approach. Technology can be a powerful enabler, providing multiple engagement channels and delivering personalized experiences that align with individual preferences.
That said, technology alone is not enough. The role of the advisor remains crucial in building trust by actively listening to client needs and priorities and helping them feel confident in their financial decisions.
Scaling Personalized Advice Through Technology?
Delivering personalized financial advice at scale is no small feat, especially when advisors are already stretched for time and resources. This is where strategic technology adoption comes in. Automating routine tasks and streamlining back-office processes can free up valuable time, allowing advisors to focus on meaningful client interactions.
Investing in digital tools can also empower clients by providing real-time tracking, personalized insights, and greater engagement with their financial plans. As personalization becomes increasingly important, advisors who prioritize tailored experiences will gain a competitive advantage.
Firms that recognize and address the specific needs of female investors, while leveraging technology to enhance and scale personalized advice, will be well-positioned for growth. Those that fail to adapt risk missing out on one of the most significant shifts in the future of wealth management.
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Jennifer Valdez, president of intelliflo for the Americas
Jennifer Valdez is the president of intelliflo for the Americas. intelliflo widens access to financial advice through leading technology which powers the financial advisory experience.
