Wells Fargo Younger Women Are Increasingly Earning the Title of “Breadwinner” - Seite 2
Financial advisors need to talk about more than just the numbers
Despite the increased barriers cited by younger women, most are open and eager to learn and grow. Nearly half, (47%) of millennial and Gen X women report needing financial advice now more than ever. In fact, three-quarters believe it would be valuable to talk through their financial concerns with a financial advisor — a view shared among the older generations.
However, millennial and Gen X women want a conversation with their financial advisor beyond the numbers. They want to talk about work (78%), family (71%), and health (60%), a sentiment not as highly ranked among the older generations.
“There is a clear message to financial advisors in this data. Women expect advisors to converse with them about the totality of their lives, as context for providing financial advice,” said Heather Hunt-Ruddy, head of business development and growth for Wells Fargo Advisors.
Educating the next generation
The change in the way young women wish to approach personal finance extends beyond their own financial acumen and experience. Many are prioritizing the financial education of the next generation. In fact, three out of four millennial and Gen X women (77%) say they take charge when it comes to the financial education of their children.
“Helping to develop strong financial acumen in their children is a high priority for young women because they cite that very concept as an inhibitor to their own financial success,” said Beth Renner, head of the Advice Center for Wells Fargo Wealth & Investment Management. “Women learn from experience and are paying it forward.”
International Women’s Day #ChooseToChallenge
Wells Fargo has a long history of supporting women — as an employer and a provider of financial services, as well as through our engagement with organizations that address issues important to women communities, customers, and employees.
Wells Fargo's support for women is part of our broader commitment to diversity, equity, and inclusion — to serve diverse customers; to hire, develop, and retain diverse employees worldwide; and to encourage employees to value and respect each other for their differences. Wells Fargo & Company was recently named a 2021 Bloomberg Gender-Equality Index member for the third straight year.
As we celebrate International Women’s Day, we are proud to share the stories of some of the many wonderful women who make up our communities:
- Watch a video and read an article on Wells Fargo Stories
- Visit Wells Fargo Wealth & Investment Management’s International Women’s Day site
- Read the Wells Fargo Investment Institute report about Women and Investing (PDF)
- Share how you will forge a gender equal world with #ChooseToChallenge
Millennial (born 1981-1996)