Recognizing the Women in Our Firm on International Women’s Day
As we mark International Women’s Day, it’s a perfect time to spotlight the women at Litman Gregory Wealth Management who as a group represent 64% of our firm and have an average tenure with us of over 14 years! This longevity in our team is a testament to their collective expertise and a benefit of the continuity that we offer our clients.
We are committed to ensuring that our clients, and women in particular, not only gain control of their wealth but also feel confident and empowered in their financial decisions. Financial success isn’t just about managing money – it’s about ensuring it supports the life you envision. We believe that wealth management must evolve beyond outdated industry norms, and our commitment goes beyond acknowledging the need for this shift – we are actively working to shape it.
We have built an advisory firm and an approach that reflects back to our clients the financial responsibilities that women and families face today, and we’re proud of the experienced women leading this charge within our advisory team – Cynthia J. Morris, CFA,CFP®,CDFA®, Gretchen Hollstein, CFP®, Lesley E. Cannan, CFP®,CPWA®,AIF®,CDFA®, and Monica Muñoz, CFP® – who each bring invaluable expertise and perspective to the wealth planning process. Their dedication reflects our firm’s broader mission — ensuring that financial advice aligns with the changing demographics of wealth. “It is wonderful to recognize the determination, skill, innovation and passion that you all bring to our clients and firm every day,” said LGWM CEO Jeff Seeley.
A Shift Needed in Financial Advice: It Must Address Women Investors
According to industry research, one of the most significant shifts in finance today is that women in the U.S. are expected by the end of this decade to control a substantial portion of the $30 trillion in financial assets currently held by baby boomers. This shift, as outlined in research conducted by McKinsey & Company, represents both an opportunity and a challenge for the wealth management industry.
Yet, despite this seismic shift coming, the financial industry remains largely structured around an outdated model designed for a different era – one where men were the default financial decision-makers and the majority of financial professionals. That approach no longer fits. The question is no longer if the industry should adapt to women’s financial needs, but how quickly it can do so.
Women and Wealth: A Different Perspective
Women live longer on average than men, are more likely to inherit wealth than ever, and are increasingly the primary financial decision-makers in their households. Despite this, they remain underserved by the financial industry as a whole. The McKinsey report highlights key distinctions in how women manage their wealth:
- Life-Centered Planning: Women tend to prioritize long-term stability, financial security, and legacy planning over short-term market performance.
- Risk Awareness: Women tend to be more risk-conscious, often preferring wealth preservation strategies over high-risk, high-reward investments.
- Personalized Relationships: Trust and transparency matter more than aggressive returns. Women value meaningful, advisor-client relationships built on trust and alignment, not on sales pitches.
- Major Life Transitions: Women experiencing career shifts, widowhood, divorce, or other life changes often reassess their financial relationships. In fact, 70% of women change their wealth management provider within a year of losing a spouse – a striking sign that existing services are falling short.
The Future of Financial Advice: It Must Be Inclusive
Financial firms have spent years marketing to women without meaningfully adapting their services. Many still rely on outdated assumptions about risk tolerance and investment priorities, failing to meet women where they are in the moment.
For real change, firms must:
- Shift from product-centric sales to goal-driven, holistic financial planning
- Recognize that women aren’t risk-averse – they are risk-aware, seeking smart strategies that protect their financial independence
- Adapt wealth management services to life transitions, ensuring women have access to financial education and guidance during major changes like inheritance, career moves, or caregiving responsibilities
- Foster genuine engagement, rather than assuming women will passively adopt the same financial advisors as their parents or their spouses
International Women’s Day is a moment to celebrate progress, but it’s also a call to action. The financial industry has an opportunity to rethink how it serves the fastest-growing segment of wealth holders. Firms that truly commit to evolving their approach – not just their marketing – will be the ones that succeed.
Let’s shape a wealth management industry that truly works for everyone.
To learn more about how our advisory team can help you navigate your financial future, please reach out to connect with us.
