Men still the vast majority in advice in Australia

/

A study looking into gender diversity in financial advice has found that while women make up a large part of the financial services industry, women in advisory roles haven’t changed in years. Twenty-two per cent of Australia’s financial advisers are women, with varying numbers represented by different licensees.

Snapshot of women in advice in Australian licensees

  • Commonwealth Bank - 27 per cent of advisers are women

  • Westpac and NAB both have about 26 per cent female advisers

  • Aon Hewitt - 34 per cent

  • National Tax and Accountants’ Association - 32 per cent

  • State Plus - 30 per cent

  • Capstone Financial Planning - 31 per cent

  • Smaller, non-aligned or employee-owned licensees have much higher rates of women advisers (38 per cent)

  • Top licensees with female advisers are AMP, SMSF Advisers Network, Commonwealth Financial Planning, Westpac and NAB

  • Northern Territory has highest proportion of female advisers - 37 per cent

  • Australian Capital Territory - 26 per cent

  • Queensland - 25 per cent

  • New South Wales, South Australia and Tasmania - 22 per cent each

  • Victoria - 20 per cent

  • Western Australia 19 per cent

  • CPA Australia’s membership base is 25 per cent female

  • Twenty-two per cent of female advisers belong to either the Financial Planning Association of Australia, the Association of Financial Advisers, or the SMSF Association

  • The Association of Independently Owned Financial Planners has 28 female members out of 131 members