Business
Only 15% of financial advisors in Canada are women, while women's share of wealth assets expected to double by 2028
Only 15% of financial advisors in Canada are women, while women's share of wealth assets expected...
About this update from Sun Life Financial Inc.
[{"type":"text","content":"\n \n \n \n Only 15% of financial advisors in Canada are women, while women's share of wealth assets expected to double by 2028\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Sun Life Global Investments urges gender equity across the industry\n \n \n \n \n \n Only 15-20% of financial advisors are women.\n \n \n By 2028, Canadian women will control\n \n $4 trillion\n \n in assets, almost doubling the\n \n $2.2 trillion\n \n they control today.\n \n \n Women investors are 2.5 times more comfortable taking investment risks with women advisors.\n \n \n 80% of widows switch financial advisors within a year of their husband's death.\n \n \n Women's financial needs are underserved, setting the global wealth management industry back\n \n $25 billion\n \n each year.\n \n \n \n \n \n \n \n \n \n \n \n \n TORONTO, ON\n \n \n ,\n \n \n March 8, 2023\n \n \n /CNW/ - By 2028, Canadian women will control over\n \n $4 trillion\n \n in assets, almost doubling the\n \n $2.2 trillion\n \n they control today, according to market data examined in a recent Sun Life Global Investments report*. And while women indicate that they are more comfortable taking investment advice from women advisors, they make up only 15-20% of financial advisors in\n \n Canada\n \n . Though progress toward gender equity is being made across the industry, there is more that needs to be done. Sun Life Global Investments sees an opportunity to build a stronger, more equitable industry\n \n –\n \n benefitting all Canadians.\n \n \n \"I am proud to lead a strong and diverse team at Sun Life Global Investments, but as an industry, we need to take action to achieve gender equity,\" said\n \n Oricia Smith\n \n , President, SLGI Asset Management Inc. and Senior Vice-President, Investment Solutions, Sun Life Canada. \"Women can play a very powerful role in our industry, but we need more female financial advisors with specialized training to understand the unique needs of female investors.\"\n \n \n Women's financial needs have tradit...