Clients Want to Work With Female Advisers, and Firms Are Taking Notice
September 4, 2019 by Veronica Dagher
Over the past two years, Jane Schwartzberg, head of strategic client segments at UBS Group AG ’s U.S. wealth-management unit, has seen a marked increase in requests from prospective clients who want to work with female financial advisers.
“It’s not that women make better advisers,” said Ms. Schwartzberg, who oversees the firm’s marketing efforts to women, business owners and wealth inheritors. “It’s that prospects are now more vocal that they want diversity from the people they get advice from.”
In part, she said, societal conversations about gender issues are prompting these prospective clients to speak up about their preferences.
Financial advisory firms are responding to client demands. At UBS, one of the biggest U.S. brokerages, the ranks of female financial advisers have increased to 20.9% of its total advisory force world-wide, or 2,183 advisers, from 18.6% in 2011, the firm said.