Free Site Registration


Small Business Owners Prefer Financial Advisors of the Same Gender

Print
Email
Reprints
Bryn Mawr, Pa. (January 11, 2012)

By Michael Cohn, Accounting Today

Small business owners favor talking with financial advisors who are the same gender as them, with male business owners showing a stronger bias than female owners, according to a new study.

The study, by financial services-oriented education provider The American College, found that approximately 61 percent of women who are small business owners prefer to speak to a financial advisor who is a woman, while only 24 percent of men favor speaking to female financial advisors. Meanwhile, 75 percent of men prefer to speak to male financial advisors while only 40 percent of women exhibit the same preference.

According to 2010 data from the Bureau of Labor Statistics, only 30.8 percent of women are personal financial advisors.

Advertisement

The survey found other gender differences as well. Eighty-four percent of the women polled said they are concerned about retirement planning, compared to 76 percent of men.

Forty-four percent of the surveyed women said they have consulted with a financial advisor about maximizing their business owner benefits compared to 33 percent of men.

Forty-one percent of women have consulted with an advisor about starting a retirement plan as opposed to 29 percent of men. More women than men list not having enough money in retirement as one of their top three concerns.

0 Comments

Be the first to comment on this post using the section below.

Add Your Comments...

Already Registered?

If you have already registered to Accounting Today, please use the form below to login. When completed you will immeditely be directed to post a comment.

 

Advertisement
Advertisement

What's New at Grant Thornton

May 14, 2012

CEO Stephen Chipman talks about his firm's new brand focus on growth, and its recent M&A activity.

Advertisement

SLIDE SHOW

Top 10 Payroll Mistakes Companies Make

May 14, 2012

Keeping your clients from running afoul of IRS rules around payroll taxes will help them avoid stiff penalties.

10 Years of the Top 100 Firms

May 6, 2012

Tracking trends at the biggest firms in the U.S.

Best Accounting Firm Taglines

April 27, 2012

Our favorite slogans from around the profession.

Favorite Busy Season Activities

April 10, 2012

LinkedIn Accounting members share the best methods to bust stress and boost morale.

The Best Places to Be an Accountant 2012

March 27, 2012

From our 2012 Regional Leaders list, we rank the best parts of the country to operate an accounting firm.

More Wacky Tax Deductions

March 26, 2012

LinkedIn members point out some weird tax deductions their clients have suggested.

7 Tax-Free Benefits for Employees

April 15, 2012

Employee rewards Uncle Sam can't touch.

Advertisement
Advertisement
Advertisement