Financial Experts: 5 Women in Finance We’re Paying Attention to in 2024 (2024)

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It’s a well-documented problem: Women in the financial industry are heavily underrepresented. According to Zippia, 26.4% of finance professionals in the U.S. are women, while 73.6% are men. Women are even more dramatically underrepresented in leadership roles, with only 15% holding executive positions.

Lauren M. Williams, CFP, CRPC, MBA, wealth advisor and co-founder of ProsperPlan, experiences the problem firsthand.

“We’re in a heavily male-dominated field across the board,” Williams told GOBankingRates. “The CFA Institute has written numerous times about women making up 18% of all chartered financial analysts.”

The massive gender disparity isn’t merely a shame; it’s a major missed opportunity. Women, as Williams sees it, bring something special to the financial industry.

“This is the thing about female financial professionals: We are wholehearted nurturers,” Williams said. “We take care of other people, guiding them through the ups and downs of not only the markets but life as a whole. Women in this industry are cut from a different cloth. Our hearts belong to the people we take care of. Our clients become our community and our second family.”

To help augment the presence of women in finance, we must lift up those who are already in the space and celebrate their work. Let’s consider just a handful of the female professionals who are inspiring others in the financial space.

These are five women in finance who financial professionals are paying particular attention to in 2024.

Betsabe Botaitis

While watching the rise of financial influencers on social media, Ramona Ortega, the CEO and founder of WealthBuild, is always looking for insightful experts with inside knowledge. Betsabe Botaitis, chief financial officer of Hedera, has come to her approving attention.

“As one of few Latinas in the crypto/blockchain space, I look to her not only as an emerging expert in blockchain but as an expert in the Layer 1 regulatory space as well,” Ortega said. “She always has insight into the intersection of finance, blockchain and global regulation. Prior to joining Hedera, she held various senior positions at renowned and leading-edge companies.”

Vanessa N. Martinez

Gloria Garcia Cisneros, CFP, of LourdMurray is keeping an eye on Vanessa N. Martinez, CEO and managing partner of Expressive Wealth.

“Vanessa’s impact extends to leadership in her community and empowering women through Savvy Ladies,” Cisneros said. “She is also the founder of a SER Latino Advisor summit. She is impact-driven and wants to create change in the financial advising space.”

Farnoosh Torabi

“I’ve been keeping an eye on a podcast called ‘So Money‘ by Farnoosh Torabi,” said Kelli Smith, CFP, CRPC, director of financial planning at Edelman Financial Engines. “I found her a while back, hoping to help a client’s adult daughter become more educated. Farnoosh covers a variety of relevant topics, incorporates celebrities, and she’s relatable. I like her because, as a younger influencer (44), she connects well with the post-boomer generations of workers and savers. She calls out that money isn’t just math, there’s a psychological component to it.”

Cameron Dawson

Cameron Dawson, CFA, chief investment officer at NewEdge Wealth, is one example of a woman in finance on Williams’ radar.

“She has legitimately made herself an icon in the financial media, but she still comes across as down-to-earth,” Williams said. “And she is wicked smart! It’s just incredibly motivating to have strong, positive female influence like Cameron Dawson leading the charge as chief investment officer, while taking to the media to share her wisdom.”

Bridget Venus Grimes

Bridget Venus Grimes, CFP, a CFP Board Ambassador and co-founder of Equita Financial Network, is another powerful woman in finance that has caught Williams’ attention.

“This woman is amazing,” Williams said. “She not only leads a network of all female financial advisors called Equita Financial Network, but she opens her time and heart to help other female financial planners. She is a coach, mentor, leader and voice of reason when in need of support.”

Grimes has a special place in Williams’ heart — not because of the work she does but because of how she personally helped Williams during a difficult time.

“I stood in a valley of self-doubt, and she restored my confidence in one 20-minute phone call,” Williams said. “That takes skill!”

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FAQs

Financial Experts: 5 Women in Finance We’re Paying Attention to in 2024? ›

Altfest says one reason why women remain deep in the minority is that many fail to consider a career as a financial advisor in the first place. After decades of being told they're not able to make their own financial choices, she believes too many women have internalized such ridiculous notions.

Why are there so few female financial advisors? ›

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Why are so few women in finance? ›

When women grow up, they are still discouraged as adult women from pursuing financial achievements and interests. They are less likely to get hired for a finance job, they are less likely to pursue MBAs or to manage hedge funds.

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What percentage of financial planners are female? ›

Only 23% of financial planners in the US are women. By 2045, about $70 trillion will transfer from baby boomers to their heirs — many of them women. Some firms have launched programs to recruit women and promote them to leadership positions.

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Why financial advisors are quitting? ›

Lack of work ethic. It takes a lot of hard work and discipline to break into a career as a financial advisor. While many are willing to work hard for a period of time, fewer are willing and able to maintain the high-level work ethic required to survive and thrive as a successful advisor.

What is the failure rate of financial advisors? ›

What Percentage of Financial Advisors are Successful? 80-90% of financial advisors fail and close their firm within the first three years of business. This means only 10-20% of financial advisors are ultimately successful.

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What percentage of millionaires use financial advisors? ›

The study reveals that 70% of millionaires work with a financial advisor, compared to just 37% of the general population. Moreover, over half (53%) of wealthy individuals consider their financial advisors their most trusted source of financial advice.

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Why do financial planners make so much money? ›

Commissions. In this type of fee arrangement, a financial advisor makes their money from commissions. Advisors earn these fees when they recommend and sell specific financial products, such as mutual funds or annuities, to a client. These are often payable in addition to the above client fees.

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How many financial planners have left the industry? ›

For the calendar year, there was a net loss of 177 advisers which was significantly smaller than in previous years. This brought the final tally for the year to 15,622, although there have been 15 advisers join since the start of 2024.

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What is the gender gap for financial advisors? ›

Almost two-thirds of men felt they had easy access to high-quality investment products, compared with 39% of women. While 42% of women said they could easily access high-quality and affordable professional financial advice, that percentage hit 62% among men.

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What percent of financial managers are female? ›

The workforce of Financial managers in 2022 was 1,360,907 people, with 55.6% woman, and 44.4% men. The average age of male Financial managers in the workforce is 44 and of female Financial managers is 45.1, and the most common race/ethnicity for Financial managers is White.

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Are there more male or female financial advisors? ›

It's no secret that women are underrepresented in the financial advisory industry. The Bureau of Labor Statistics indicates that 31% of financial advisors are women, while Barron's estimates that number at just 20%. Meanwhile, the CFP Board has stated that 23% of certified financial planners are women.

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Is there a shortage of financial advisors? ›

Advisor headcount was largely unchanged in 2023 as the number of advisors grew by just 2,706 in 2022, according to The Cerulli Report—U.S. Advisor Metrics 2023. The number of new advisors barely offsets trainee failures and retirements, emphasizing the critical need for the industry to attract and retain talent.