Yellow Brick Road: Home
YBR

Reasons to start using a female financial advisor

In this article:

Do you know what the benefits are of having a female financial advisor? We've found a few key traits that might shape your monetary decisions.

Men dominate the financial advice sphere - but it doesn't have to be this way. One SBS report from 2015 indicated that as few as 20 per cent of Australian financial planners were women. It's statistics like this which are driving our Women in Finance initiative, and one key element of this is highlighting exactly why women make a fundamental part of this sector.

Many people won't have even considered the extra value a female financial advisor or planner can add to their money - we're here to change that.

1. It's better for financial management

Research from the Association of Financial Advisors (AFA) has shown that when a gender-based approach is taken with financial advice, women's money management skills go up by 27 per cent. Using female financial advisors can be a key element of this. Consider the following, from Lassus Wherley's President, Diahann Lassus:

Research has shown that men's and women's brains work very differently. Because of that, it is a great advantage for clients to have women advisors on their team as well as men."

Taking a gender-based approach and using female financial advisers can boost your money management.

2. Female financial advisers are better for women

Peggy S. Cabaniss, President of HC Financial Advisors argues that female financial advisors are better, particularly for women, because they empathise with and understand where womens' priorities and goals lie.

This lines up with the AFA research, which highlights mens' and womens' differing attitudes to financial advice. While men tend to look at qualifications, women look at trustworthiness, ability to meet their goals and clear communication.

financial advice

When women want to focus on this with their money, a female financial advisor can be key.

3. They go the extra mile

While this isn't going to apply universally, it is an interesting metric to apply to your choice of financial adviser. A 2012 Fidelity study of financial advisers found that women were far more likely to attend industry events and network to generate new business.

It suggests greater engagement with the wider financial planning world, and perhaps a willingness to go the extra mile for you.

Just as this is not going to be true of every female financial adviser, these elements may also apply to men. However, the research is out there - female financial advisers offer a multitude of benefits, no matter who the client is.

To find out more about women in financial planning or to get up-to-date on your money, get in touch with your local Yellow Brick Road representative.

Feature articles

A Guide to Mortgage Pre-approval In addition to providing a clear idea of your borrowing capacity, a mortgage pre-approval can also expedite property purchase. Here a few things you need to consider before applying for one.

What to consider while switching to a lower fixed rate If you're considering switching from a variable rate to a fixed rate loan in the wake of the recently announced RBA rate cut, be sure to weigh the saving benefits against possible trade-offs like no offset account and redraw facility.

What the November RBA rate cut means for borrowers Here's a quick guide on how to benefit from the recent RBA rate cut on 3rd Nov 2020

Decoding property price rise & the latest RBA rate cut Here's why gradually rising property prices and all time low interest rates make it perfect time to hop on to the property ladder.

How to switch to a better home loan rate If your home loan is over two years old there's a good chance that your rate isn't competitive. Here's a quick step by step guide on switching to the best market rate.

View all articles



Enquire now