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Is wealth management too male-dominated?

ended 23. September 2026

Is wealth management too male-dominated and targeted at men?

HSBC research earlier this year found women who seek out regulated financial advice are more likely than men to employ the services of a woman – 27% of mass affluent women the financial advisor they engaged with was a woman, vs only 12% of men.

Considering that financial planning and wealth management remains a male-dominated industry, with a representation of only 20% women, these numbers indicate that many women are choosing to work with a woman. 

This is further validated by the fact three-quarters (74%) of mass affluent women say that gender representation in the industry is important to them.

  • Do you agree that wealth management too male-dominated and targeted at men?
  • How important is representation in wealth management?
  • Do you predict that the number of women working in wealth management will increase as time goes on?

Responses by tomorrow.

5 responses from the Newspage community

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Nouran MoustafaVerified
Practice Principal & IFA at Roxton Wealth
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Yes, wealth management is still too male-dominated, but the bigger problem is that much of the industry was built around a traditionally male picture of wealth.

Women’s financial journeys can look different. Career breaks, maternity, caring responsibilities, longevity and pension gaps can materially change financial planning. Yet women are still too often treated as a niche audience rather than half the population.

Representation matters because financial advice is deeply personal. Clients discuss divorce, bereavement, relationships, children, retirement and financial mistakes. Feeling understood matters.

That does not mean women need female advisers, or that men cannot advise women brilliantly. It means clients deserve choice, and an industry where around four in five advisers are men does not provide enough of it.

I expect that to change. As more women build, control and inherit wealth, wealth management will have to evolve with them.
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Paul DenleyVerified
CEO at Oakham Wealth Management
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Wealth management is still too male dominated, both in who works in the industry and, historically, how it has marketed itself. Too much financial communication has assumed the investor is male, even though women control an increasing share of wealth.

Representation matters, not because women need different advice, but because people are more likely to engage with an industry in which they can see themselves. HSBC’s figures suggest that adviser gender matters to a meaningful proportion of women.

The imbalance needs to be addressed. More wealth is passing to women through earnings, entrepreneurship, and inheritance, creating a strong commercial incentive for firms to recruit and retain more female advisers. The firms that fail to adapt risk looking increasingly out of date.
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Scott GallacherVerified
Director at Rowley Turton
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Financial advice is still male-dominated, although FCA research suggests things are moving in the right direction, with women under 50 around twice as well represented as those over 50. I also think there is a distinction between an industry being male-dominated and being deliberately targeted at men.

There are firms that specifically market advice to women, while I am not aware of equivalent firms focused solely on male clients. Employers are also trying to increase female representation.

Given the imbalance, and evidence that some women prefer a female adviser, there are significant opportunities for women entering financial planning. Just last week, a prospective client specifically asked for a female adviser.

Small details matter too. I have previously been thanked for addressing correspondence as “Mrs and Mr” where the woman first contacted us, rather than defaulting to “Mr and Mrs”. We simply treat whoever first contacts us as the first client.
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Gosia DawsonVerified
Director at Glade Financial
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Sometimes the gender of your financial adviser doesn't matter. Sometimes it really does.

I know many male advisers who work well with women and couples, making sure both partners are heard and involved. But I've also seen situations where women actively seek a female adviser, particularly after divorce.

If you've spent years having difficult conversations about money with a husband, sitting opposite another man who perhaps reminds you of that relationship may not be what you need. You may feel more comfortable opening up to a woman who will listen.

That's not about whether male or female advisers give better advice. It's about psychology, trust and feeling understood.

Representation matters because it gives clients choice. The best adviser isn't necessarily someone who looks like you; it's someone you feel comfortable enough with to have very honest conversations about money.
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Anita WrightVerified
Chartered Financial Planner at Ribble Wealth Management
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Wealth management being male heavy doesn't automatically mean it's unfair or built for men. Men and women, on average differ in what they're drawn to in that men lean toward things and systems, women toward people. Finance sits firmly in the numbers and systems camp, so a skew toward men is what you'd expect even in the freest societies. Scandinavia has some of the strongest equality policies anywhere, yet the gender gap in fields like this got wider, not narrower, once people were free to choose. Still, the HSBC data shows that many women clients want a woman across the table. That's a market signal, not a moral failing. Representation matters because trust matters, not because every field needs a 50/50 split. Will more women join? Probably, as the job becomes more relationship driven. But expect movement, not parity.