Women are becoming increasingly responsible for their household finances. In fact, statistics show that eight out of every ten women are going to end up responsible for managing either their own wealth or someone else’s.¹ In my fifteen years in the financial services industry, I have observed that women are often much more impacted by the financial decisions being made earlier on, whether that’s due to a divorce, outliving their spouse, or choices made in their career.

It is incredibly important for women to have a voice at the financial table. As financial planners, we need to build an inclusive environment where women have the confidence to use their voice in financial conversations, can discuss finances with people they relate to, and have their unique concerns addressed.

As women in financial planning, we can work to build that environment by connecting with, elevating, and inspiring each other. That’s why as we celebrate the achievements of women this month, I want to share how a few women in financial planning are empowering other women through networking, education, and inclusion. Read on to learn their stories and get inspiration for your own.

Stephanie Trexler, CFP®: Making Connections in the Financial Planning Community

Since meeting Stephanie, I have been amazed by her involvement in the community and how she supports other financial planners in the industry. In addition to running her own practice, she is heavily involved with the Financial Planning Association (FPA) of Michigan, has chaired their Student Success Summit conference, and is an advocate for helping other women enter the financial planning field.

Shehara Wooten, CFP®: Creating an Impactful Difference on Many Stages

Shehara has an enormous passion to make her mark to help close the wealth gap for women and people of color. She brings her passion for this topic through speaking with audiences about their own personalized financial success story, authoring a book on inspiring financial success in the black community, working with clients around money mindset and values, and offering private group coaching sessions to meet people where they are.

Melissa Walsh, CFA, CFP®, AIF: Expanding Financial Success Through Education

Melissa, who started her own practice a few years ago, is working to elevate women’s financial success. In addition to growing her practice built for women, she is launching educational courses to reach a wider audience. It will be an impactful way to spread knowledge far and wide to people who may not be able to afford traditional financial planning.

Cassandra Smalley, CFA, CFP®: Giving Women a Voice at the Financial Table

I would be remiss to not share my own story. When I launched my financial planning firm, I knew I wanted to focus on the inclusion of women in financial planning and the unique challenges they face. I’m on a mission to empower women to define and use their voices at the financial table to ensure they can enjoy a fulfilling life, both through my firm and my new book, The Why of Wealth: Mastering the Steps to a Wealthy Mindset to Live a Joyful Life.

I hope these stories will inspire you to look for opportunities to empower other women, from your fellow financial professionals to your clients, so we can build an inclusive environment in financial planning together.

Sources:

1. UBS. 2018. “Own your worth. How women can break the cycle of abdication and take control of their wealth.” Accessed February 2023.

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