09.09.24

Women-Led FA Firms Finding Strength in Numbers

by: Rachel Dalloo

Pennsylvania-based Equita Financial Network, founded in 2018, aims to help women-led financial planning firms grow through collaboration. Although women-owned firms are gaining clients, particularly women investors, the level of assistance generally available in the industry hasn't proven equal to the demand. Just 23.8% of certified financial planners are women, according to a recent CFP Board study, which noted that the figure significantly lags a Bureau of Labor Statistics finding that women represent 31% of all U.S.-based advisors. Equita has added three member firms, making a total of 10 women-owned firms now on the platform. "As a Black female financial planner, I seem to attract people that are like me," said Shehara Wooten, founder and financial planner at Dallas-based fee-only fiduciary firm Your Story Financial. "I joined [Equita Financial] because I wanted to be able to really focus on what I do best — financial planning."

Read the full article on Financial Advisor IQ