Getting more women into the financial planning and wealth management industry could help close the gender pension gap. This disparity leaves women poorer than men in retirement despite living longer. In the UK, women account for 18 percent of financial advisers, according to the Financial Conduct Authority. In the U.S., Fintrx reports that women hold approximately 20 percent of client-facing, revenue-generating adviser roles.
There is growing demand for female financial advisers. Research by HSBC UK in March showed that women who use financial planners prefer female advisers over male counterparts. Rebecca Owers, Head of Wealth and Specialists at HSBC UK, noted an increase in women seeking regulated financial advice for wealth building and achieving financial goals. She explained that women often prefer advisers they feel can relate to them, hence the inclination towards female advisers.
When women stop working, they live longer than men but receive pensions about a quarter less. This finding comes from 2025 research by the Organisation for Economic Co-operation and Development (OECD). Factors like leaving the workforce for childcare or elder care, and ageism hindering job progression, can shorten women’s careers and limit retirement funds. While addressing these inequalities requires more than just financial advice, having a greater choice of advisers could motivate women to seek retirement planning support.
Jessica Craig, a financial adviser at Lanyon Financial Planning, stated that more women in her field could empower others to manage finances and tackle the pension pay gap. Career breaks and caring responsibilities significantly impact financial security, leading to smaller pension pots at retirement, according to Craig. It should not be that way.
Nearly 60 percent of retired Brits living in poverty are women, as per 2026 government statistics. In the U.S., women face higher poverty rates as they age. Charity AARP Foundation’s analysis of 2026 U.S. Census Bureau data showed poverty rates for women over 65 at almost 17 percent, compared to 14 percent for men.
Craig emphasized that women’s financial journeys differ from men’s. There’s a need for education to help build future financial security. With more female advisers, they can empathize and understand gender-specific financial implications.