Success and Satisfaction of Women in Financial Planning

Posted: 12 Nov 2019

See all articles by Jim Pasztor

Jim Pasztor

College for Financial Planning

Aman Sunder

College for Financial Planning

Rebecca Henderson

College for Financial Planning

Multiple version iconThere are 2 versions of this paper

Date Written: July 29, 2019

Abstract

There has been much discussion, research, and initiatives related to building the financial planning profession by attracting and retaining talented financial planners. Surveys have shown that many view financial planning as primarily a profession of white males. There is no evidence that women lack the skills or traits necessary to be successful financial planners, yet for more than a decade, gender diversity has been a challenge. Previous research has found evidence of sexism in financial planning, which includes significantly lower compensation for women and different treatment of women by their fellow planners and employers. We surveyed 224 experienced professional financial planners to analyze their feelings of satisfaction and success and how these feelings related to their gender, size of practice, education, personality traits, age, and years of experience. The women in our sample were equivalent or better than men with regard to education, experience, personality (the Big Five personality traits), and certified financial planner (CFP®) certification. However, we found that professional career satisfaction was surprisingly higher for women if they worked for a solo practice rather than for a large firm where they felt significantly more successful.

Full Text Available Here: https://doi.org/10.1002/cfp2.1049

Suggested Citation

Pasztor, Jim and Sunder, Aman and Henderson, Rebecca, Success and Satisfaction of Women in Financial Planning (July 29, 2019). Financial Planning Review, Vol. 2, Issue 2, June 2019, Available at SSRN: https://ssrn.com/abstract=3485711

Jim Pasztor (Contact Author)

College for Financial Planning ( email )

9000 E. Nichols Ave
Suite 200
Centennial, CO 80112
United States

Aman Sunder

College for Financial Planning ( email )

9000 E. Nichols Ave
STE 200
Centennial, CO 80112
United States
7853176604 (Phone)

Rebecca Henderson

College for Financial Planning ( email )

9000 E Nichols Avenue
Suite 200
Centennial, CO 80112
United States

HOME PAGE: http://cffpinfo.com

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