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ArticleBehind the Business Case for More Female Advisors



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As women amass more wealth, there’s a market for female financial advisors. Now it’s a matter of meeting the demand.

By Gregg Greenberg | InvestmentNews 

From head count to AUM and board members, there are a multitude of ways to measure the progress of women in the wealth management business.

Karen Altfest, executive vice president of Altfest Personal Wealth Management, has her own proprietary method for calculating female advancement in the financial advisory industry.

She counts lunches.

“There are many more women at financial planning and investment conferences now than there were when I started in the business, when I would typically count one woman and nine men at almost every lunch table. Now women hold steady at about a third of conference attendees,” Altfest said.

Founded in 1983, Altfest Personal Wealth Management has a 45-member staff, 19 of whom are women, overseeing assets under management of $1.6 billion. Among those employees is financial planner Jessica Nelson, who believes that the need for more women in the wealth management industry will continue to increase as women amass greater wealth.

“I find that many female clients are looking to work with women advisors,” Nelson said.

The numbers back up her observation. With a McKinsey study projecting that women will control $30 trillion in assets by the end of the decade, up from approximately $11 trillion today, there’s an urgent case for recruiting more women into the wealth management business.


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Investment advisory services provided by Altfest Personal Wealth Management (“APWM”). All written content on this site is for information purposes only. Opinions expressed herein are solely those of APWM, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. All investing involves risk, including the potential for loss of principal. There is no guarantee that any investment plan or strategy will be successful.

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