2025 Insights: How Women Financial Planners Are Driving Equity and Change in the Industry

In honor of International Women's Day 2024, ZAMONA reached out to prominent female financial planners to explore what equity means to them and how the finance sector can become more inclusive.

Despite progress, women—especially women of color—remain underrepresented in financial services. From 2018 to 2021, female representation increased by 40% at the senior vice president level and 50% in C-suite roles, yet white men still hold 64% of these top positions, with only 4% occupied by women of color.

Here, six influential women leaders share their insights on advancing diversity and equity in the financial planning industry.

Marguerita Cheng, Founder & CEO, Blue Ocean Global Wealth

“The 2024 International Women’s Day theme, #EmbraceEquity, calls on all of us to challenge gender biases and stereotypes. Financial advisors play a crucial role in expanding financial inclusion by educating individuals on money management and empowering them to achieve their goals.

Equity in finance means accessible, ethical advice that fosters wealth-building, job opportunities, and entrepreneurial spirit. Improving financial wellness starts with educating communities—children and adults alike—on smart financial habits that transform lives.”

Nicole B. Simpson, Certified Financial Planner

“Women remain underrepresented in financial planning, holding steady at about 23%. However, as women increasingly control household spending and seek female advisors, opportunities abound for women planners to help families achieve financial freedom.

The wealth demographic is shifting, with women showing growing interest in comprehensive financial planning both professionally and personally. Women clients often prefer female advisors who understand their unique challenges, highlighting the need to continue fostering equity in this field.”

Mary Beth Storjohann, Co-CEO, Abacus Wealth Partners

“Women make up over half of the U.S. population but only 23.6% of Certified Financial Planners. While progress is evident, the industry still faces significant work to close this gap.

Every woman’s journey in finance is unique, often requiring self-advocacy and resilience. We honor those who paved the way and recognize the ongoing effort needed to achieve true equity.”

Chloé Moore, Founder, Financial Staples

“Helping women in tech master their finances has been incredibly rewarding. My clients have successfully negotiated better salaries, planned career breaks, led household money conversations, and reached ambitious financial goals.
On this day, I celebrate women’s empowerment and look forward to a future that embraces diversity, equity, and inclusion.”

Carolyn McClanahan, Certified Financial Planner, Life Planning Partners

“Long-held stereotypes about women’s financial capabilities are fading as more women actively manage family finances. Yet men still dominate leadership and wealth control in finance.

True equity will be achieved only when women hold equal power and representation in financial services. Progress is gradual, but the journey continues.”

Rebecca Walser, Founder, Walser Wealth

“International Women’s Day resonates deeply, especially in traditionally male-dominated finance and tax sectors. The landscape is shifting as many older white male advisors approach retirement.

This upcoming transition presents a unique chance to diversify the industry, welcoming more women and professionals from varied backgrounds. My team and I are excited to contribute to this transformative era.”

Have a news tip for ZAMONA reporters? Reach out at tips@zamona.net

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