If you’re a woman over 50, you remember a time when it was still somewhat unusual for a woman to manage the household finances. But today, more women are stepping up as the financial lead at home. Some are managing solo after a major life transition. Others are simply the ones most attuned to the family’s financial picture, acting as the household CFO.
These women aren’t just tracking expenses and paying the bills. They’re overseeing complex investment strategies, planning for retirement, and building long-term financial security—all while shouldering busy careers and caregiving responsibilities.
And yet, the financial advisory field is still overwhelmingly male. That imbalance can create subtle, and sometimes not-so-subtle, disconnects. Many women share that they’ve felt misunderstood, underestimated, or even patronized when seeking financial advice. Sometimes it’s overt, but more often it’s subtle and rooted in unconscious bias. Either way, these experiences can erode trust in a relationship that should feel collaborative and respectful.
Working with a female financial advisor can offer a different experience, rooted in shared perspective and lived awareness of the realities women face. Experience and credentials are always essential, but so is feeling heard and understood. To be clear, I would never advocate for hiring based solely on gender, but having a strong relationship with your advisor can shape better outcomes, and that is something worth considering.
Women as the Financial Leaders at Home
The financial industry may be slow to change, but it is taking note because these changes will have an impact far beyond the way we serve individual clients.
Recent research shows that nearly 70% of women identify as their household’s primary financial decision-maker. Even among married couples, 60% of women report taking the lead on managing money and investments. That’s a clear shift, and one that continues to gain momentum. [1]
According to McKinsey, women now control roughly one-third of retail financial assets in the U.S. and Europe, totaling around $60 trillion globally. That number is projected to climb to nearly 45% by 2030. In other words, women aren’t just influencing financial decisions—they’re driving them. [2]
These figures reflect a real change in how families approach financial decisions. Insights from Goldman Sachs Asset Management note that women investors often take a long-term, disciplined approach to investing, placing a high value on clarity, risk awareness, and aligning financial decisions with broader life goals rather than short-term performance alone. [3]
What makes this interesting? The financial industry’s long-standing models were largely built around male clients and male advisors. As women take the lead at home, these models are being tested by a new reality.
Why Many Women Feel Underserved by Traditional Financial Advice
I talk to women every day who feel underserved by traditional financial advice. Despite women’s growing financial authority, the advisory profession itself remains overwhelmingly male. According to the Financial Planning Association, women make up just 23% of financial advisors, and representation drops further at senior levels of the industry. [4]
I’ve seen the impact of this imbalance throughout my career. Early on, I noticed that many women, especially those managing their own finances after divorce, widowhood, or major life transitions, possessed more knowledge and confidence than their advisors assumed. They grew frustrated because financial professionals weren’t taking the time to listen before doling out advice. The male voice in the room talked past them, perhaps with well-meaning intention, but their concerns remained unheard.
Research suggests this experience is far from rare and reflects a broad industry challenge.
A study by RFI Global found that women are leaving financial advisors in large numbers, often because they feel misunderstood, overlooked, or poorly aligned with their advisor’s approach. A comprehensive report from The American College of Financial Services concludes that women are becoming the dominant clients of the wealth management industry, yet many advisory models have been slow to adapt to how women prefer to engage, communicate, and make decisions. [5,6]
For women who carry the responsibility of financial leadership at home, it’s about finding an advisor who understands not just the numbers, but the reality of how women lead, decide, and plan for what comes next.
Strength Through Understanding: Why Approach Matters as Much as Expertise
Women are stewarding and building wealth in increasingly visible roles, and they're looking for partnerships that match the sophistication of their financial lives. They want an advisor who is able to deliver technical expertise as meaningful guidance.
Many of the women I work with come to the table fully capable of understanding complex financial decisions. What they're seeking is an advisor who recognizes their strengths, respects the experience they bring, and understands that asking thoughtful questions reflects engagement, not uncertainty.
In practice, many female financial advisors bring a distinctly collaborative approach to planning. Rather than leading with prescriptions, we tend to begin with questions designed to uncover what matters most. At The Hatlestad Group, we prioritize education and transparency, walking clients through trade-offs and implications so that decisions feel fully informed and truly owned.
This approach proves especially valuable during life's pivotal transitions. If you’re going through a divorce, loss of a spouse, taking on new caregiving responsibilities, navigating career changes, or moving into retirement, you deserve to be heard. The ability to hold space for both financial complexity and emotional weight often makes the difference between a plan that works on paper and one that works in real life.
The most effective advisory relationships create an environment where every voice at the table contributes, where shared goals emerge through genuine dialogue, and where financial strategies honor the full context of your life. Strong financial planning creates room for every voice at the table to be heard, valued, and integrated into confident decisions.
A Thoughtful Partnership for the Next Chapter
Choosing a financial advisor who truly understands how women lead—at home, at work, and through life transitions—can reshape your entire experience. When your advisor listens, respects your perspective, and communicates in a way that aligns with how you make decisions, planning becomes more than a process. It becomes a relationship built on trust, clarity, and shared purpose.
If that sounds like the kind of partnership you’ve been missing, I’d love to connect. Let’s have a conversation about what matters most to you and explore how I can support you in what comes next.
Sources:
1. https://www.cfp.net/news/2025/02/women-lead-financial-decision-making-in-most-households
3. https://am.gs.com/en-us/advisors/insights/article/2025/women-investing-insights-advisors
5. https://rfi.global/the-trillion-dollar-gamble-why-women-are-leaving-their-financial-advisors/
6. https://www.theamericancollege.edu/sites/default/files/2023-07/the-future-client-is-female.pdf
The Hatlestad Group is an independent wealth management firm based in Edina, Minnesota, primarily serving successful head-of-household women, late-career executives, and pre-retirees. With a tailored approach to fee-only comprehensive wealth management, they empower clients to live out their next chapter with vision, wisdom, and resources, creating a purposeful and meaningful future. They can be reached by phone at (763) 259-3637, via email at info@thehatlestadgroup.com, or by visiting their website at thehatlestadgroup.com.
The information presented is based on sources believed to be reliable and accurate at the time of publication. This material is for educational purposes only and does not necessarily reflect the views of the author, presenter, or affiliated organizations. It should not be construed as investment, tax, legal, or other professional advice. Always consult a qualified professional regarding your specific situation before making any decisions.