How to Find a Woman Financial Advisor or Planner

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Working part-time for 14 years definitely impacted my ability to put money into my pension. I did continue to contribute, but at a lower level than before I had children. I increased my contributions, once I started working more hours, but it will take some years to mitigate that period of lower investment.

Getting to the root of the client’s values also opens the door for opportunities to educate them about their financial picture. But more women are bridging that gap by breaking into the financial planning industry, where they’re helping women who, in many cases and across generations, have not been taught to talk about money. To find out more, we spoke with Stacey Crawford of Capstan Financial Consulting Group and Melissa Walsh of Clarity Financial Design, two local women in the often-male-dominated financial advising sphere.

“Women are more aware of the tradeoffs and asking themselves, ‘Can I be a powerful professional and a good mom? ’ Many think that’s in direct conflict, so trying to grow your income sounds like you’re not prioritizing your family. The lessons are to ‘make sure to usecoupons and not buy full price.’ But when men talk about money, it’s about growing their career and takingrisks. By selecting continue, you will be taken to a website that is not affiliated with Merrill and may offer a different privacy policy and level of security. Merrill is not responsible for and does not endorse, guarantee or monitor content, availability, viewpoints, products or services that are offered or expressed on other websites. This information should not be construed as investment advice and is subject to change.

At the end of the day, time in the market beats timing the market. As the chart shows, waiting even a short period of time can have a detrimental impact on long-term return. According to the Ernst and Young Groundbreakers report, 81% of millennials desire companies to demonstrate good corporate citizenship. These statistics create a compelling case for brands to consider partnering with or advocating for a cause to attract the female demographic. “Of course, you want to a buy a home that feels good to you, but view it as an asset.” To stay within your means, “the most common rule of thumb is that your total housing costs should be no more than 30% of your gross monthly income, which is your total income before taxes and deductions,” Singleton said.

It’s likely you’re already doing some things that would be included in a plan, such as saving for retirement. Regardless of your marital status, you can open your own retirement accounts at any time. Workplaces typically have an employer-sponsored retirement savings account, such as a 401(k) plan. It may seem daunting, but you can improve your financial literacy and build a solid retirement plan. To help you get started, we spoke with several female financial experts who shared a few valuable tips for retirement planning. Saving for retirement as a woman means accounting for factors that don’t typically influence a man’s retirement plan.

Additionally, she can also learn the art of salary negotiation — a skill that many women find difficult to master — if you give her quarterly performance reviews in order to justify an allowance raise.

Read more about budgeting tips for women here.

Another resource for researching financial planners is the Certified Financial Planner Board of Standards, Inc., at letsmakeaplan.org. If the financial planner you are considering is a “registered broker,” you can run a quick background check online through the FINRA BrokerCheck at finra.org/brokercheck. This tool can tell you if the professional has done a lot of job-hopping, and whether she or he has been the subject of customer disputes or regulatory action. While XY’s search tools don’t let you filter by the planner’s gender, you can choose from a number of “gender/identity focus” specialties.


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