Charleston Metro Chamber Of Commerce: 4 Investing Tips For Any Woman Who Wants To Build More Wealth

Press release from the Charleston Metro Chamber of Commerce:

October 14, 2021

The financial services industry has changed over the past 25 years. There are more ways for a person to learn about financial planning and investing topics through various articles and education from around the internet. Yet, data shows that a majority of American women, over 50%, still do not take an active role in their financial future and rather leave those decisions to their spouse.

Another area that hasn’t changed much over the years is that, in the US, of the roughly 300,000 financial advisors today, only 18% are women. Even more bleak: Just 2.9% of all advisors identify as Black or African American, 5.1% as Hispanic or Latino, and 4.3% as Asian, which means an even smaller share of those professionals of color are women.

I have often heard from my own friends and family that the biggest turnoff about finance and investing is the constant use of jargon by advisors that anyone outside the industry doesn’t understand. It’s so off putting that my female friends say they would rather not engage in any investing conversations at all.

I know personally that there are areas of my life where I would rather speak to a woman, such as a female doctor on certain health issues. I can completely understand that when it comes to something as personal and emotional as our money and our financial future that women would want to speak to another woman about that as well.

This press release was produced by the Charleston Metro Chamber of Commerce. The views expressed here are the author’s own.