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Female financial advisers: Where art thou?

Author

Listed:
  • Daniel W Richards

    (School of Accounting, RMIT University, Melbourne, VIC, Australia)

  • Helen Roberts
  • Rosalind H Whiting

    (Department of Accountancy and Finance, University of Otago, Dunedin, New Zealand)

Abstract

We investigate the gender imbalance in the financial advising industry by analysing 32 in-depth qualitative interviews of female and male financial advisers in Australia and New Zealand. Using the framework of organisational structures, advisers’ preferences and stereotypical discrimination, we identify barriers for women and the adaptive strategies they employ to overcome them. Findings show that sales-based structures, servicing client needs, difficulties networking, a dominant masculine management culture and the gendered nature of flexible work inhibit women’s careers in financial advice. Strategies to overcome these barriers are finding the ‘right’ manager, receiving mentoring, selective networking and establishing a partnership arrangement with another adviser. JEL Classification: M12, M14

Suggested Citation

  • Daniel W Richards & Helen Roberts & Rosalind H Whiting, 2020. "Female financial advisers: Where art thou?," Australian Journal of Management, Australian School of Business, vol. 45(4), pages 624-644, November.
    • Handle: RePEc:sae:ausman:v:45:y:2020:i:4:p:624-644
    DOI: 10.1177/0312896219896389
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Financial advisers; financial planners; gender; investment advisers; women;
    All these keywords.

    JEL classification:

    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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