March is Women's History Month. We have come so far, and yet not far enough. As we celebrate this special month, and with International Women's Day upon us, let's take a moment to reflect on the substantial contributions women have made to the world of finance, business, and beyond.
Pioneering Women in Finance
Women like Abigail Adams, who, back in the 18th century, wisely invested in government bonds, and Hetty Green, known as the "Witch of Wall Street," who became one of the richest women in the world in the late 19th century. They paved the way for future generations of women in finance. That said, there is still a ways to go. To this day, women represent only approximately 15% of financial advisors. It's one of the reasons that I elected to become an advisor. Representation matters.
Present Day Leaders
Despite the challenges, there are women leading financial institutions, government bodies, and startups, demonstrating that finance is not solely a 'men's club'. Women like Janet Yellen, the first woman to chair the Federal Reserve and the first woman U.S. Treasury Secretary, and Mary Barra, the CEO of General Motors, are leading the way. More women are starting companies of their own as well.
Women as Leaders of their Households
Because heterosexual women often outlive their male spouses or partners, they may end up in charge of finances in a way that hadn't previously been their role. It is important for both partners to have relationships with their financial services professionals, or to have their own advisors who they trust, where they feel heard, empowered and respected. Women are often responsible for the wellness of families and thus, are in a stronger position to do so when they are confident about the household financials as well.
Empowering the Next Generation
As we forge ahead, let's continue to break barriers, shatter glass ceilings, and pave the way for the next generation of women. This month, we salute the women who've bravely charted their own paths and have inspired others to do the same. Every investment we make today can build a stronger future for women and the people who love them.
The work of our ancestors is not finished. Don't forget to rest, but then gather yourself and your friends and forge ahead in all of the ways you can.