Is There a Male Problem in the Financial Advisory Industry?
January 22, 2019 by Alex Padalka
If women make better investors, wouldn’t they make better FAs? Blair duQuesnay suggests the financial advisory industry could use significantly more female advisors, but the question is how does the industry reshape itself?
In an opinion piece for the New York Times entitled “Consider Firing Your Male Broker,” duQuesnay writes that the industry has a long way to go toward gender equality. And getting there may require some innovation, she writes.
Women are better at investing: they outperform men by 1.8%, according to a Warwick Business School study cited by duQuesnay, an investment advisor for Ritholtz Wealth Management.
Terrance Odean at U.C. Berkeley and Brad Barber at U.C. Davis found that women investors do better than men because they make 69% fewer trades, therefore avoiding trading fees, duQuesnay writes.
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