Women in Wealth Management: Progress and Persistent Gaps in Advisory Roles
The wealth management industry is seeing an influx of women, yet significant disparities remain in representation within client-facing advisory positions, according to recent data. While overall numbers are improving, women are still underrepresented in the high-earning, leadership-track roles that drive long-term career growth.
Gender Imbalance in Revenue-Generating Roles
A study by Fintrx, a private wealth intelligence platform, highlights that despite increased female participation in the wealth management sector, they haven’t achieved parity in advisory roles. Emily Goldman, Vice President of Data and Research at Fintrx, emphasizes that revenue-generating positions are crucial for both immediate earnings and future leadership opportunities. “Underrepresentation here directly affects female employees’ earnings,” Goldman said. “And that lack of opportunity for leadership and ownership is also going to affect their long-term earnings.”
Age-Based Trends in Female Representation
The data reveals a generational shift. Younger women (aged 20-30) comprise 37.6% of registered professionals in wealth management. However, this percentage declines for subsequent age groups, hovering below 27% for those aged 30-40 and 40-50. This suggests a potential attrition issue or a bottleneck in advancement for women as they progress in their careers.
The Coming Wealth Transfer and its Impact
The anticipated transfer of wealth—estimated at $105 trillion by Cerulli Associates through 2048, with $54 trillion going to spouses—presents a significant opportunity. Given women’s longer life expectancy, they are projected to inherit and control a substantial portion of this wealth. However, this potential shift in financial power isn’t yet reflected in the composition of the advisory workforce.
Concentration in Operational Roles
Currently, the growth in female participation is largely concentrated in administrative and operational roles, according to Fintrx. This trend reinforces the existing gender gap in revenue-generating positions. Specifically, only 20.2% of producing advisors aged 20 to 30 are women, a figure that remains consistent across the 30-40 and 40-50 age brackets. Representation remains similarly low for advisors aged 50-60 (18%) and 60-plus (17.1%).
Leadership Disparities in Wealth Management Firms
The gender gap extends to leadership positions within wealth management firms. Fintrx data indicates that women hold 21.5% of C-suite roles. Notably, they are more frequently found in COO or CFO positions rather than chief executive or investment roles. This suggests a need for firms to create clearer pathways for women to ascend to top leadership positions.
Rise of Female-Founded RIAs
Despite the challenges within established firms, there’s a growing trend of women establishing their own Registered Investment Advisory (RIA) firms. In 2025, 39 new RIA firms were founded by women, an increase from 30 in 2021. Goldman predicts this trend will continue, stating, “I think that we’ll see more and more women break out on their own if they’re unable to advance as much or as quickly at wirehouses or larger firms.”
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