Why should women get financial advice?

1 min read by Unbiased team Last updated October 4, 2024

Explore the advantages of using a financial advisor for women and what to consider when employing one to achieve your personal financial goals. You can also match with a financial advisor by answering a few questions below.

Summary

  • While more than 80% of women are comfortable spearheading financial plans for their families, only 23% are comfortable seeking long-term financial planning services to secure their futures.  

  • A financial advisor for women can provide insight and support for women navigating retirement planning, estate planning, investing, and healthcare costs. 

  • Find an expert financial advisor via Unbiased who can help women manage their money and reach their financial goals. 

What is a financial advisor for women? 

A financial advisor for women is simply a financial advisor with particular experience navigating and supporting the unique financial circumstances, challenges, and opportunities women face in the modern world.  

Unlike a standard financial advisor, a financial advisor for women can offer more customized financial plans that accommodate women's experiences in a field that has historically been male-dominated, both in terms of clientele and the firms that they hire.  

How can a financial advisor help women? 

A financial advisor for women can help female clients demystify historically gender-barricaded financial services, support women in taking charge of their finances, grow their wealth, and increase female representation in the financial field.  

Female-focused financial advisors may provide the following key financial services: 

  • Retirement planning 

  • Budgeting 

  • Healthcare costs 

  • Estate planning 

  • Financial education 

  • Investing for the short and long-term 

  • Building for an emergency fund  

What are the advantages of using a financial advisor as a woman?  

Effective financial planning is one of the most life-changing actions a woman can take to secure financial independence and freedom for herself and her loved ones.  

Financial advice for women is designed to equip women with the necessary tools, resources, and information to create a personalized financial plan that aligns with individual needs and goals, allowing women to take charge of their finances.  

Obtaining financial advice for women, especially if the provider is a woman financial advisor, can offer advantages such as access to holistic financial strategies, higher wealth expansion potential, and guidance for making major financial decisions.  

What should you consider when looking for a financial advisor as a woman? 

There are a few things to consider when seeking out financial advice for women and finding an advisor who can meet your needs in a professional and applicable way.  

Ideally, women should seek out financial advisors with the following qualifications:  

● Certified Financial Planners (CFP) 

● Financial Planning Association (FPA) 

● National Association of Personal Financial Advisors (NAPFA) 

These credentials indicate a high level of experience in dealing with diverse clients and customizable financial planning for men, women, and anyone who needs a tailored approach to financial advice.  

What questions should I ask a financial advisor as a woman? 

As a woman navigating the financial services field, it is important to ask a few key questions when hiring a potential advisor.   

These questions can help you ascertain whether the advisor in question will be able to deliver their services in a way that is compatible with your needs as a woman.  

  • Do you have experience working with women? 

  • What certifications do you have, and what clientele do you primarily serve? 

  • Do you have any disclosures, such as criminal activity or customer complaints? 

  • Can you give examples of female clients who have reached their financial goals using your services? 

Even if you are consulting with a female financial advisor, which, studies show, can be highly beneficial for both male and female clients, it is still important to ask these kinds of questions to ensure a cohesive, productive professional relationship going forward.  

How do you find the best financial advisor for women? 

There are several ways to go about finding the best financial advisor for women.  

One option is to seek referrals from other women who have had positive experiences with a particular firm or advisor.  

There are also industry databases that the public can access for free to find good, SEC-regulated financial advisors.  

Either way, women and anyone seeking financial advice must ensure that the advisors they consider meet all the necessary qualifications and credentials for providing these important services.  

Find the right financial advisor  

Obtaining the help of a professional female financial advisor or male financial advisor with experience in assisting women can provide women with the services they need to take charge of their financial circumstances.  

Let Unbiased match you with a financial advisor who can offer expert financial advice for women and understands exactly what women need when it comes to money management and planning for a financially stable future. 

Writers

Unbiased team

Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.