Women are the ones to watch in wealth management

Hey, laaaaadies. By 2030, we’re gonna be in charge of $30T in assets, a $20T increase from 2016. The boys in the banks better get set.

Is this a Missy Elliott track?

Nah, it’s a McKinsey banger. 

A report from the consulting giant found:

• Male Boomers, who hold more than 70% of investable assets, will pass assets to their wives when they die. 
• Younger women are getting sh*t done in corporate America.

It’s a shakeup for a male-dominated field

Thirty percent more young, married women are making their own financial decisions than 5 years ago. If more firms want to serve them, they should take note: 

• Women are willing to pay for in-person advice… if they feel a connection with their adviser. 
• Women tend to be risk-averse with their portfolios, focus on life goals like retirement, and are interested in financial literacy and community outreach.