Everyday Skills That Make Women Great Financial Advisors

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Are you tired of the typical 9-5 job that leaves you feeling unfulfilled in your career? What about having to choose between work and more family time?

The number of women in financial advising careers has been on a swift but steady rise over the last few years.

So, why not you?

Here at Consolidated Planning, financial advisors are given the balance of support and autonomy to build their practice based on how they define success. Through our proven planning process, you will have a clear path to a successful and rewarding career. One that fills up your cup, not empties it.

But, being a financial advisor is hard on the great days but really hard on the bad days so choosing this career for the right reasons is important. To help you decide if this is the right path for you, you need to determine if your skill sets align with what it takes to be successful as a financial advisor, the ways women are in a unique position in this industry, and how everyday skills translate into more successful outcomes for clients.


Women Are A Natural Fit For A Career In Financial Advising

Historically, women have tended to shy away from careers in financial advising due to the industry being overwhelmingly male dominated.

But hear us out, women are projected to control roughly $30 trillion in assets by 2030, according to McKinsey & Company. That’s approximately $11 trillion in assets transferring to female spouses when their male counterpart passes.

However, even where we stand today, women are taking more interest and control in their financial wellness.

What does this mean for you?

Well, females of all ages have indicated that they would prefer to work with a female advisor. Here’s where you may have an advantage over the majority of other advisors:



Discovering what’s most important to your clients takes time – whether that’s several meetings or through the course of your work together.

The sooner you can get to the core of what your client wants and needs, the sooner the right solutions can be delivered.

And the right solutions make for happy clients and advisors.

Just as communication is essential in your existing relationships, the ability to communicate effectively will be a huge part of your day-to-day life as a financial advisor

Because women tend to demonstrate a higher emotional intelligence than men, that translates into further sharpened soft (yet vital) skills. Your thorough communication can help you build relationships quicker and ensure you get it right for your client the first time in a few ways:

  • Proactively reaching out
  • Asking the right questions
  • Actively listening
  • Providing sound advice based on what they are, and are not saying

We’ve all heard that the devil is in the details, and the details of your interactions matter.

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Perhaps the most differentiating factor in your client relationships is the ability to display empathy. Empathy will help you put yourself in your client’s shoes – in their situation, in their frame of mind.

Sometimes people are coming to their advisors during a fragile or unsettled time in their life and this can help break down barriers.

Because you are able to better understand your client’s real needs, goals, fears, and weaknesses, you’re better suited to provide personalized advice and guidance that takes into account their unique situations and perhaps current stage of life.

Your level of empathy will help build a deeper level of trust and the necessary rapport to maintain a strong, transparent relationship in a few ways:

  • You become more than just an advisor
  • You invite your client to take control, learn and collaborate when it comes to their finances

When a client’s concerns are adequately addressed and they are made to feel part of the planning process, the client-advisor relationship becomes consultative and not transactional.



Think of your own financial advising experience, has your advisor remembered details that you shared with them?

When and if your advisor remembers even the seemingly smallest detail, it likely made you feel confident in that relationship even for just a moment.

That feeling matters.

Attention to detail translates into many areas of your life, including a career in financial advising.

Half the battle in getting started as a financial advisor and building a book of clients is the ability to stay organized and on track. Some of the ways you will do this:

  • Keeping detailed and regular notes of your interactions
  • Creating and managing workflows
  • Delegating when necessary
  • Meeting your client where they are

All of these aspects can help you build a strong client-advisor relationship. And that client-advisor relationship is at the heart of building a successful financial planning practice in a few ways:


Necessary Skills To Be A Successful Financial Advisor

So maybe you still find yourself on the fence about taking a step forward in a career as a financial advisor. That’s ok, this is a huge decision for you.

In this career, most aspects can be learned:

  • Investments: yes
  • Insurance: yes
  • How to onboard clients: yes
  • How to market your practice: yes

However, there are two key components that you will likely not only be able to do well as a financial advisor, but you’ll enjoy doing them. These are:

  • Relationship building
  • Conveying complex information in a simple way

Doing these two things well will serve you in your career as a financial advisor as this is 80% of owning your practice. The other 20%, the non-revenue generating activities, your firm might be able to help with.

At Consolidated Planning, we want you to focus on your unique abilities and cultivating your relationships, not doing mundane tasks that require you to sit behind your desk. Your activity level as a financial advisor is an indicator for just how successful you will be.

If you are nodding your head yes that you enjoy building relationships and are confident in explaining complex information in a simple way, this might be the right career path for you.


Is A Career In Financial Advising Right For You?

While we don’t believe that everyone can do it all, at the same time, we do believe you can spend your time in a more meaningful way. And one way to do that might be a career in financial advising. Here’s what this might look like:

  • More flexibility in your schedule – on any given day, week, year, you can set your priorities.
  • Making an impact – as natural caretakers, women can find satisfaction and purpose in actually being able to make an impact in others lives.

Not only is making a career change and scary thought but a career in financial advising is hard work. It’s up to you to decide if the rewards outweigh the potential risks of getting started.

Reach out to our team of recruiters to discuss what it might look like to work for yourself.


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2023-153108 Exp. 3/2025

Published:  March 30, 2023