In a recent Financial Standard article, industry leaders at the Stockbrokers and Investment Advisers Association's 2025 conference highlighted stockbroking's "perception problem" – one I've witnessed evolve throughout my 30-year career in financial services.
When I began at Morgans in 1998, the stereotypical stockbroker was exactly as Morgans Financial CEO John Clifford described in the article: the Wolf of Wall Street archetype – aggressive, male-dominated, and transaction-focused. A simple Google search still reveals this outdated image, while "adviser" conjures images of friendly professionals with greater female representation.
The Female Advantage: Empathy and Efficiency in Practice
Having navigated this landscape for nearly three decades, I've observed firsthand how female advisers bring distinct strengths to client relationships. The article notes that women will control 60-65% of wealth by decade's end – a statistic that underscores the business imperative for diverse representation.
In my experience leading Morgans Mona Vale's all-female team, our empathetic approach creates deeper client connections. We listen differently, often uncovering concerns clients might not express to male advisers. This emotional intelligence translates to more comprehensive financial strategies that address both stated and unstated needs.
Our efficiency stems from this same attentiveness. When clients feel truly heard, the advice process becomes more streamlined. Questions are anticipated, concerns addressed proactively, and solutions tailored precisely – reducing the back-and-forth that often delays implementation.
Building Long-Term Relationships Through Trust
The article mentions the industry's struggle to "attract and retain women," which LGT Crestone COO Michelle Inns linked to cultural issues. My experience confirms this challenge, but also demonstrates the powerful client loyalty that results when these barriers are overcome.
Many of my clients have remained with me for over 20 years – a testament to the trust fostered through consistent, empathetic service. Female advisers often excel at maintaining these relationships across generations, helping families navigate complex wealth transitions with sensitivity to interpersonal dynamics.
Changing the Culture From Within
As Inns noted, "If perception is the smoke, then culture is the fire." Since becoming a business owner in 2012, I've prioritized creating a workplace that supports women's success. Our all-female team at Morgans Mona Vale demonstrates that inclusive environments not only attract diverse talent but deliver exceptional client outcomes.
The industry's recruitment practices must evolve beyond hiring "client's sons" to actively seeking diverse candidates. My team's success proves that when women are evaluated on potential rather than just administrative skills, the entire business benefits.
Looking Forward: The Business Case for Diversity
The financial services landscape has changed dramatically since I began, but much work remains. With women projected to control the majority of wealth by 2035, firms without female representation risk missing crucial market opportunities.
My journey from adviser to principal demonstrates that women can thrive in this industry when given the right support. The empathy and efficiency we bring aren't just "soft skills" – they're business advantages that translate to stronger client relationships, better retention, and ultimately, superior financial outcomes.
As we continue addressing stockbroking's perception problem, let's recognise that the solution isn't just about changing public image – it's about transforming the industry from within to better serve all clients in an increasingly diverse financial world.
Here to help. Reach out. Contact Kylie today on [email protected] or 02 9998 4206.
