We’ve all heard the saying: women wait until they meet all the requirements before applying, while men throw their hat in the ring even if they don’t meet them all.
Talent Shortage
Across nearly every sector, the “application gap” persists. Women apply for high-paying or high-status roles at lower rates than men, resulting in continued underrepresentation. The financial advisory industry is no exception. With a widening talent shortage, the sector urgently needs fresh perspectives, as traditional approaches are no longer sufficient for firms to stay competitive or attractive in today’s market. While there is an overall talent shortage in the financial advisory space and strong demand for high-quality financial advisors, this gap must also be addressed from a gender perspective. Women remain underrepresented in advisory roles and are more likely to be in positions offering fixed salaries, without access to high-commission earning potential widening the salary gap.
Next Generation
Greater female representation helps inspire the next generation, and this visibility is a powerful driver of cultural change. When women are seen in diverse roles and leadership positions, they provide future generations with mentors, role models, and clear career pathways demonstrating that advancement and opportunity are genuinely within reach and attainable. Breaking down systematic barriers and stereotypes that have deterred women from advancing.
Diversity
Within the advisory sector, diversity in both service offerings and decision-making is critical. When leadership teams are made up of individuals with similar backgrounds and perspectives, organisations risk narrowing their thinking. The 2008 financial crisis demonstrated the consequences of homogenous decision-making, where a lack of diverse viewpoints contributed to significant blind spots. Today, as clients seek more tailored solutions and the highest-quality advice, innovation is essential and diversity is a key driver of that innovation. As gender diverse teams tend to outperform in terms of risk-adjusted decisions.
Personal and Economic Financial Growth
Having more women in financial advisory isn’t just about representation – it drives economic growth and improves financial outcomes for individuals. According to Eurostat in 2023, the average gross hourly disparity between men and women’s earnings was 8.6%, while the EU average was 12%. Among younger members of the workforce, this number declines even more sharply, highlighting a positive generational shift. Bridging the salary gap means helping women reach the sector’s top-paying advisory roles. As the financial sector evolves, empowering women to thrive at the highest levels isn’t just beneficial to them – it’s essential for a more inclusive and prosperous industry.
Creating greater visibility for women in financial advisory isn’t simply about representation.
It is about creating stronger businesses, better outcomes for clients, and clearer career pathways for the next generation. Every woman who steps forward, shares her experience, or supports another, helps shape a more inclusive future for the profession.
The Female Financial Advisory Circle (FFAC) exists to make those connections happen. By bringing together women across financial advisory, we’re building a trusted community where members can learn from one another, access practical industry insight, and grow their careers with the support of peers who understand the profession.
If you’d like to be part of a community committed to supporting women in financial advisory, we’d love to welcome you.