According to Deloitte, the percentage of women in leadership roles in the financial sector has modestly risen from 22% to 24%. This number is projected to grow to 28% by 2030.
With more women determined to fill the senior leadership and c-suite roles, the gender gap in the finance sector is expected to decrease in the coming years.
While the financial sector is still heavily male-dominated, it can be even more challenging for women who are new moms or are planning to start a family. Maternity leave or extended gap can often push women behind in their careers, leaving them demotivated and anxious.
One Mom’s Story About Bridging the Gender Gap
Abby Morton, mom of two, is a firm believer that if you don’t ask, you’ll never get what you want in life. Abby started her career at Goldman Sachs, worked her way up as a CFP at Dentist Advisors, and is currently heading the community and culture department at The Elements Financial Monitoring System.
During her career transitions, Abby gave birth to two children. She requested reduced timings at work to balance her work and family life. While the finance sector may be notorious for a cutthroat environment that is often inflexible, Abby was granted reduced working hours. With fewer hours, she could balance work and take care of her kids simultaneously.
Hybrid Approach Means More Moms Can Make an Impact in Finance
Abby serves as a great example for moms who want to pursue careers in the wealth management industry while tending to their kids. For Abby, it is about tapping into your needs and living the life that’s best for you, and her career as a CFP provided her with the flexibility she needed in her life with two kids.
With the current remote-hybrid work environment, advisors and CFPs can take client meetings from the comfort of their homes. They can also decide the number of clients they want to onboard to avoid burnout. Abby believes that such flexibility allowed her to fulfill her duties as a mom while pursuing her career in the finance sector.
Relationship Building Remains a Priority
One of the most crucial and rewarding aspects of being a financial advisor is establishing relationships with your clients.
A private client advisor or wealth manager provides resources and necessary advice to their clients, manages their investment portfolio, and sets them up for success.
When serving ultra-high-net-worth individuals, it is often hard to stay out of touch with your clients for an extended period of time.
However, Abby’s example sets a precedence for females in the wealth management sector who are already moms or are planning to be moms soon. Being a mom is not about compromising, rather it’s about striking a balance between work and home.
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