Women Eclipse Male Wealth Managers in AUM

Female wealth managers now manage an average of 5% more assets than their male counterparts, according to Fidelity’s 6th annual Broker and Advisor Sentiment survey. Behavioral finance research shows that women take less risk than men and are more realistic, while men tend to be more confident and optimistic. Women make up less than 10% of plan advisors, so advisor firms and broker dealers may be wise to recruit women to help plan sponsors and their participants with financial planning — not only to distinguish themselves but also to gather more assets. One caveat: women also earn 5% less than men. CNBC’s coverage includes a news story from Thomson Reuters and a video report.