Closing the Gender Gap in Financial Advice

A startling revelation emerged from my trip to the Financial Advisor New Zealand conference in Christchurch – most Kiwis aren't getting professional financial advice. While our counterparts in Australia, the UK, and Canada regularly seek financial guidance, New Zealanders tend to rely on casual advice from "Uncle Bob at the barbecue" or friends at sporting events. This knowledge gap becomes particularly concerning as baby boomers prepare to transfer substantial wealth to younger generations who may lack the financial literacy to manage it effectively.

The conference spotlighted a fascinating gender imbalance in our industry. Not only are women underrepresented as financial advisors, but they're also less likely to seek professional financial guidance. This disparity creates a troubling dynamic, especially considering that when parents age or face health challenges, it's typically the oldest daughter who takes responsibility for managing their finances – often without having the necessary experience or knowledge. As a passionate advocate for women in finance, I had the honor of hosting a women in financial advice breakfast attended by over 80 people, where we explored how to address both sides of this equation: bringing more women into the profession while encouraging more women to seek financial guidance.

Connecting with industry leaders was a conference highlight, from spending time with powerhouse keynote speaker Vanessa Stoikov to sitting alongside legends like Naomi Ballantyne, who built and sold two insurance companies. We explored cutting-edge AI developments in financial services and discussed navigating economic uncertainties with a focus on "controlling the controllable." The energy and insights were so valuable that our entire team will be attending next year's Auckland conference. If you're thinking about your financial future or wondering how to make the most of potential inheritances, reaching out to a professional advisor could be the most important step you take. Financial literacy isn't just about managing money – it's about creating security, opportunity, and legacy for generations to come.

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