Jolene Philpott was brand new to Edward Jones -- relatively new to financial planning in general -- when she decided to host a seminar to educate women about investing.
She picked a venue, blanketed her town of Salisbury, N.C., with promotional flyers and took an ad out in the local paper. She even promised free coffee, and cookies.
All that, and a grand total of three women showed up.
Philpott couldn’t understand it. She still can’t. And the implications go far beyond that sparsely populated room in Salisbury.
“If we can’t get the average woman interested, how are we going to get them into the industry?” she said.
The number of women in financial planning careers is indeed dismal.
Philpott said her firm, Edward Jones, has conducted research that shows just 16 percent of financial advisers in the U.S. are women. At Edward Jones, that number is slightly higher — but only slightly, coming in at 18 percent.
The issue is so dire that the Certified Financial Planner Board of Standards released a study this week to determine why there is such a pronounced gender gap in the industry and identify what could be done to turn that trend around. Read more >
By Mary Johnson
April 24, 2014