Closing the gender gap in advice

Women are known to be less confident investing their money, making them more likely to benefit from the extra support that comes from the guidance of an adviser. But research shows that almost 70% of women have never received financial advice (Financial Times). We also know that many women would prefer to speak to a female financial adviser – someone they can relate to, but there’s not enough advisers to go around.  

And it’s not just the female clients that would benefit from a more diverse community of advisers; when it comes to money, something deeply emotional, often overwhelming, and tied to some of life’s biggest turning points, skills like empathy, communication, and collaboration aren’t just valuable. They’re essential. And women bring them in abundance.

This article will unpack further the need for greater representation within the advice community, looking at the key skills female advisers bring to the table that women themselves may overlook, followed by the exploration of its impact on female clients in relation to the financial literacy gender gap.  

Why women make brilliant advisers

1. Empathy and emotional intelligence 
   Women are often socialised from a young age to tune into emotional cues — and that shows up in their ability to communicate around sensitive topics like money. Life events like divorce, bereavement or inheritance often come with complex emotions. Women advisers are often able to meet clients in those moments with care and compassion.
2. A different approach to risk 
   It’s no surprise that men and women treat risk differently. Female advisers often bring a more cautious, considered approach to investment strategy - offering clients alternative perspectives that can lead to better outcomes.
3. Creating spaces of trust 
   When it comes to sharing deeply personal information — especially in situations like divorce or financial abuse — many female clients feel more comfortable speaking to another woman. As one adviser puts it: “We tend to trust people we can relate to.”
4. Detail, intuition and relationship-building 
   From running households to juggling careers, many women have developed the kind of skills that make them thorough, reliable and solutions-focused. Add to that their natural ability to build strong relationships, and it’s clear why women are thriving in this people-first profession.
5. A more collaborative style 
   Many female advisers naturally lean into a more communicative and collaborative approach, focusing on explaining options clearly and helping clients truly understand their finances. When advice feels accessible, it becomes more powerful.

Why female clients need female advisers

Managing your money is no longer an ‘opt in’ opportunity – with the cost of living crisis, increasing age expectancy and pensions people can no longer rely on, everyone needs to be making the most of their money.  

Research from M&G shows that women are significantly less confident when it comes to finances, putting them at greater financial risk than men:

• 1 in 3 worry about being judged for past money mistakes
• 68% are concerned about market volatility
• Over half say they’d need advice to manage an inheritance

Yet many of them have never spoken to an adviser.  

This isn’t a lack of interest, it’s a lack of support, relatability and trust.

As one adviser observed, many women feel they’re arriving at the table late, or missed the financial “lesson” everyone else got. They fear being patronised or pushed into decisions. And they often don’t see themselves reflected in the profession.

This is a missed opportunity - not just for women, but for the industry as a whole.

A future that reflects the people it serves

With women set to own more of the UK wealth than ever before, the face of wealth is changing. And so must the face of advice.

To build a profession that serves everyone, we need advisers who can close the confidence gap gently, patiently and without judgement. We need safe spaces where questions are welcomed, not dismissed as “basic”. And we need more female role models to show the next generation that financial advice isn’t just for men - it’s for everyone.

At the St. James’s Place Financial Adviser Academy, we believe great advisers don’t just understand finance, they understand people. They can support clients through some of life’s biggest turning points, with empathy, clarity and genuine care.

So if you’re someone who: 

• Enjoys helping others make informed decisions 
• Can listen with patience and speak with clarity 
• Wants a career that balances autonomy with purpose 
• Believes that financial wellbeing is for everyone

Then you might just thrive here.

Women bring a wealth of insight, empathy and life experience that the profession needs - not in spite of being different, but because of it.