Скачать или смотреть Vision 2030: Preparing Women for the $30 Trillion Wealth Transfer

“It's such a gratifying thing to get to be able to know so many different families and to be part of their success stories is just wonderful. We just need more people to understand what a great industry it is.”

Welcome to WomenShare: a marketing guide for women in financial services.Today’s guest was recently named one of the top women wealth advisors by Forbes. Debra Brennan Tagg, CFP® is President of BFS Advisory Group and the creator of the DBT360 Financial Plan, a proprietary program that helps her clients use their money to have the life they want by prioritizing their goals, leveraging their resources, and addressing their risks, all through a framework of their personal values.

With a $30 trillion wealth transfer from men to women expected to take place by 2030, Debra is sharing her insights on the false narratives that have been fed to women and how the financial services industry will need to evolve over the next six years.

We’re also discussing the significant underrepresentation of women in wealth management and the pivotal roles of mentorship, education, and sponsorship in bridging the gender gap.

As we advocate for more inclusive spaces and celebrate the strides made towards female empowerment in the industry, let's keep the conversation going. Because when women thrive, industries revolutionize.

Key takeaways:

Impending Wealth Transfer: By 2030, women are expected to control approximately $30 trillion in financial assets, marking a significant shift in wealth dynamics. This presents both challenges and opportunities within the wealth management industry to cater to and empower this fast-growing demographic.

Gender Gap in Financial Advisory Roles: Despite the potential, only 20-25% of financial advisors are women. This episode highlights the critical need for the industry to evolve and embrace more inclusive recruitment and retention strategies to balance gender representation in financial services.

Strategic Inclusion Efforts: Debra Brennan Tagg discusses actionable strategies for attracting women to the wealth management profession. These include enhancing industry appeal through targeted educational initiatives and simplifying the entry points for both potential advisors and clients.

The Importance of Mentorship and Sponsorship: The discussion underscores the pivotal role of mentorship and sponsorship in advancing women's careers in wealth management. Effective allyship, particularly from male colleagues, is crucial in fostering an environment that supports career advancement for women.

Communicative Clarity and Client Confidence: Ensuring that financial advice is understandable and accessible is paramount. The industry must focus on clear communication to help clients, particularly women, feel confident about their financial decisions and the management of their wealth.

Timestamps:
00:00 Improve industry accessibility, clarity, and client value.

07:06 Challenges for women in financial planning discussed.

10:06 Promoting diversity in financial offices for clients.

12:50 Turning 50 led to collaborative, achievable goals.

14:55 Seeking common theme among diverse innovative ideas.

17:54 Opportunity for women in male-heavy industry.

21:14 Leading national advisory board at Ozaic broker.

25:35 Opportunity for new advisers, rewarding industry.

27:32 Focus on client leads to clear decisions.