Serving Women Clients: A $30 Trillion Opportunity for CFP® Professionals
Good to Know
As the financial planning profession continues to evolve, one opportunity is coming into sharper focus: the need for more intentional, strategic planning for women clients. With an estimated $30 trillion in assets projected to shift into the hands of American women by the end of the decade, financial planners who neglect to tailor their approach risk missing one of the most significant demographic transformations in wealth management history.
The Growing Financial Power of Women
Demographic and economic shifts are driving this trend. Women are inheriting wealth from both spouses and parents, building their own fortunes through entrepreneurship and corporate leadership, and increasingly managing household financial decisions. In fact, women now control more than half of all personal wealth in the United States, and that figure continues to grow.
Yet despite this momentum, many women report feeling underserved or even dismissed by financial professionals. According to research from McKinsey & Company, two-thirds of women under 45 say they feel misunderstood by their financial advisors, and many switch advisors after the death of a spouse — a telling sign of a disconnect that must be addressed.
Why Tailored Planning Matters
While women face many of the same core planning needs as men, their experiences often differ in key ways. These include:
- Longer life expectancy: Women tend to live five years longer than men on average, which means their retirement plans must be built to last.
- Interrupted earnings: Career breaks for caregiving (children or elderly parents) can result in lower lifetime earnings and retirement savings.
- Greater healthcare costs: Due to longevity and healthcare trends, women often face higher end-of-life medical and long-term care expenses.
- Risk tolerance differences: Studies show women are more conservative investors on average — but they also tend to be more disciplined and long-term focused.
Effective planning must take these realities into account, rather than applying one-size-fits-all models.
Building Trust and Engagement
Serving women clients well requires more than adjusting financial models — it means changing how planners engage, communicate, and build trust. This includes:
The CFP Board emphasizes that client-centricity and communication are key competencies for certified professionals, and these are especially vital when serving women.
The Bottom Line
This is not just about doing what’s right — it’s about doing what’s smart. As trillions in assets transition to women over the next decade, CFP® professionals who recognize and adapt to this shift will be positioned to grow their practices, deepen client loyalty, and ultimately deliver more meaningful, personalized planning outcomes.
Sources:
- McKinsey & Company, “Women as the Next Wave of Growth in U.S. Wealth Management”
- BMO Wealth Institute, “Financial Concerns of Women”
- McKinsey & Company, 2020 U.S. Financial Advisor Survey
- Social Security Administration, Period Life Table, 2023
