Schwab Advisor Services

Building diversity

RIA firms are recognizing the need to diversify their talent portfolio to address changing client demographics.1 Creating a culture of inclusivity at your firm will help support your hiring and retention strategies.

One of the roadblocks to meeting the needs of the evolving investor is the shortage of diverse perspectives at RIA firms. For example, women are underrepresented in the financial services field, particularly when it comes to leadership positions; they comprise just 30% of all financial advisors and only 18% of executive officers.2,3 Only half of RIA firms have women in client-facing positions.4

And female investors are looking for more from their advisory firms: Of those with financial advisors, 67%5 feel that their advisor either doesn’t understand them or isn’t interested in them. While women do not necessarily prefer a female advisor, they do expect their advisor to demonstrate gender smarts and exhibit inclusive behaviors.6

Realizing the value of a diverse workforce is one thing. Building a firm where diverse talent is represented and well integrated throughout all levels of the organization is a different matter. It starts with taking an honest look at the working environment at your firm. And making a commitment to creating an inclusive culture that empowers everyone to reach their full potential.


Gender diversity

Why tomorrow's top RIA firms pursue gender diversity today

RIA firm leaders can start building firm diversity by increasing the number of women employed at their firm—who can bring gender, generational, racial, and cultural diversity along with different and fresh perspectives.

Click Why tomorrow's top RIA firms pursue gender diversity today to access two versions of a presentation to help industry associates and leaders understand the value of expanding the number of women at their firms. This presentation shares compelling statistics, talking points, and recommendations with the goal of starting the gender diversity discussion and brainstorming actions the firm might consider taking to increase the number of women in advisor and leadership roles.

The following are some additional articles and infographics covering the benefits of gender diversity.

ADVANCING AN INDUSTRY: Action steps to accelerate the advancement of women in the advice industry
Read the insights and actions derived from female and male advisors attending two Think Tanks hosted by Investment News at the Women to Watch and at Schwab’s IMPACT 2017 conferences.

Capturing the opportunity in a changing environment
This white paper discusses the shifting investor demographic and the importance of increasing gender, generational, and racial firm diversity to better serve the needs of today’s investors.

Infographic Part 1: The female perspective
Depicts the value of attracting and retaining female clients and the changes firms may need to address in order to best serve these affluent and influential clients.

Infographic Part 2: How female talent can improve firm performance
Explains the business case for gender diversity at RIA firms.


Recruitment Playbook

Our RIA Talent Advantage® Recruitment Playbook offers more tips, tools, and resources on building an inclusive culture at your firm.