Financial Advisor Offerings

Women are overmentored and underchampioned. Every career advice panel, every women’s leadership summit, HR initiative lands on the same answer: find a mentor. Get guidance. Have someone to talk to about your career. We have plenty of people willing to give us advice. Sit us down and tell us to be more confident. Review our resumes. Suggest we think about how we’re coming across. Remind us it’s a marathon not a sprint. Reassure us that our time will come. Pat us on the head and send us back to wait our turn. What we don’t have are people in rooms we’re not in, saying our names when opportunities come up. People who will stake their reputation on us. People who will say “she’s ready.” People who will hand us the thing instead of coaching us endlessly on how to ask for it. Mentorship is someone talking to you. Sponsorship is someone betting on you. One of them changes careers. The other makes you feel supported while you watch mediocre men get promoted while you’re told ‘your attitude needs work’. Mentorship is a way of appearing to help women without redistributing any power. It costs nothing to give advice. You get to feel generous, get credit for caring, and never have to spend political capital. Meanwhile sponsorship costs something. Saying “I want her on this project”. Telling the CEO “she should be in this meeting”. Pushing back when someone says “she’s not quite ready yet”. Which is why so few people do it. Men get sponsored automatically. Men are presumed competent and promoted on potential while women are required to prove ourselves over and over and get promoted only on undeniable performance. A senior guy sees himself in the young guy, takes an interest, pulls him up. It’s just how things work. Meanwhile women get told to go find a mentor. Make it happen for yourself. The labour of our own advancement is always on us. “Find a mentor” assumes the problem is that we haven’t networked hard enough, haven’t asked the right questions, haven’t been proactive. That if we just read the right books and had the right conversations we’d finally crack the code. Meanwhile the actual decision-makers are busy sponsoring people who look like them. I’ve had mentors. Lovely people.. They told me what to read, how to navigate politics, when to push and when to wait. Very helpful. You know what actually moved my career? The few people who put me in rooms, made introductions that mattered, handed me opportunities. Who didn’t wait for me to be ready but decided I was ready and acted like it. So here’s my advice: stop looking for mentors. Stop asking senior women for coffee. Stop trying to absorb wisdom from people who have no intention of actually helping you get anywhere. Look for people with power and watch what they do with it. Are they talking to you or are they spending capital on you? Are they coaching you for the opportunity or creating it? Are they helping you get ready or are they deciding you are? Enough mentorship. Stick your neck out.

Over the past eight years at Ellevest, talking to women about money has given me countless insights and some conversations still astound me. Just this past week, I spoke with several highly capable, smart women (think CPAs, tech employees, business owners, women who manage their family's finances) who all shared a similar frustration with their long-time financial advisors. One even used my least favorite description for their experience: "fine." The common thread? Every one of these women had at some point been treated as a secondary participant in their own finances. Here are just a few ways the financial industry continues to miss the mark when working with women: Reinforced gender stereotypes still loom large. One woman told me that while she's in charge of her family's finances, her all-male advisory team subtly sidelined her — and the only time she interacted with a woman at the firm was to "handle paperwork." Lack of active listening. (This one always amazes me.) Advisors need to realize their job is more than just choosing the right allocation. One woman noted that her advisor continued to bring her investments that simply didn't align with her personal values … a clear sign she wasn't being heard. Denied their agency. The entire approach by these advisors pushed women away from their own money decisions. So here's my advice to the financial industry: working with women is not about creating a "pretty deck." It's about fundamentally understanding that women want agency over their money and they want to be active participants in their financial journey. If your clients describe you as "fine," that's a problem.

In the bustling world of numbers, ledgers, and financial statements, there lies a profound misunderstanding. Many believe that when clients seek out an accountant, they are merely purchasing a service—the lodging of a tax return. In truth, they are investing in something far more precious: a relationship built on trust. Imagine for a moment the bond between a confidant and the confided. Each year, like clockwork, clients would step into their accountant's office for what was traditionally known as the "Annual Meeting." This wasn't just a routine tax return session. It was an intimate encounter, where hidden financial anxieties and grand dreams for the future were shared, bared, and discussed. In these hallowed meetings, behind closed doors and amidst stacks of papers, trust was forged and relationships cemented. It's here that clients confided their deepest aspirations and apprehensions. The clever accountant, with a heart for service and not sales, could intuit needs and opportunities, offering guidance not just for financial prosperity, but for personal, familial, and professional growth. Times have changed, though. Where once stood paper-laden desks, we now have technology facilitating these interactions. But our vision is to elevate this annual tradition. Instead of merely discussing the numbers of the past, we aim to shine a spotlight on the progress made and the future journey. It's no longer just about the figures owed or saved but the broader tapestry of a client's life. Yes, the tax return remains a cornerstone of this meeting—it’s the opening act. But the real performance, the crescendo, is the deepening bond and understanding between accountant and client, which goes far beyond mere monetary transactions.

Your accountant is not your finance partner unless you let them be Most business owners always say the same thing: I have an accountant. But what they usually mean is “Someone files my taxes.” And there’s a huge difference between the two statements Because filing keeps you compliant. It does not help you decide what to do next. Here’s what I have seen happening: The business is busy. Money is coming in. But the account balance never seems to reflect the effort. You hesitate before hiring. You’re unsure whether you can expand. A tax bill lands and throws everything off. So you assume money is the problem. It’s not… The problem is that no one is helping you plan and interpret your numbers. Most accountants are brought in after decisions are made: After money is spent, contracts are signed, and After growth has already stretched cash At that point, their role is limited. They can record what happened, but they can’t change it. That’s why many business owners feel like accounting is always backward-looking. It is, when that’s all you ask for. You can’t: Set prices without cost clarity Expand without cash flow visibility Hire without payroll forecasting Take loans without tax impact modelling …then expect your accountant to magically advise you at year-end. That’s not partnership. That is damage control. A finance partner sits at the table before the move is made. They ask annoying questions. They challenge assumptions. They tell you this will hurt cash flow in 6 months when everyone else is celebrating today’s revenue. Yes…. not every accountant is ready for that role. But many are stuck doing admin work because that’s all they’re allowed to do. So the question is not: “Why isn’t my accountant helping me grow?” It’s: Have I allowed them to move from compliance to conversation? Most business owners don’t give their accountant that role. They don’t share plans. They don’t discuss pressure points. They don’t ask questions beyond, “How much do I owe?” So the relationship stays mechanical. And yes some accountants are comfortable there too. But true partnership requires intention on both sides. It requires conversation, not just compliance. Context, not just numbers. If you want your accountant to think like a finance partner, then Involve them before you decide, not after things go wrong. Until then, they’re not failing you. They’re just doing exactly what you hired them to do. And that’s the part most people don’t like to admit.

Your client's wife has no questions at the end of your meetings. And you've decided that means she doesn't have questions. I need to stop you right there. Because I've been studying this dynamic for over a decade, and what looks like disengagement almost always comes down to one of two things, and they require completely different responses from you. Treating them the same is one of the most expensive mistakes you can make as an advisor. Here's the first one. She doesn't want to say anything that contradicts her husband. In many households, and I'm speaking statistically, not universally, the meeting dynamic has an unspoken hierarchy. She may genuinely disagree, have questions, feel uncertain. But she's not going to surface any of that with him in the room. That's not weakness. That's a read on the room that you need to also be making. Here's the second one. She's afraid of saying something that might make her sound like she doesn't understand finance. And this one breaks my heart a little bit every time I say it, because women are so much smarter than they give themselves credit for, regardless of the topic. But the financial services industry has, for generations, communicated in ways that made women feel like outsiders in conversations about their own money. And so she goes quiet. Now here's where the stakes get real. Cerulli projects that nearly $40 trillion in wealth will transfer to widowed female spouses over the next 25 years. McKinsey has found that 70% of those women leave their advisor within a year of inheriting. Seventy percent. And when I talk to advisors about this, so many of them say some version of: "But Julie, I do invite her. She just doesn't say anything." That's not enough. Inviting her to the meeting is not the same as having a relationship with her. You need to call her independently. Not through him. Not cc'd on an email to him. A direct call. Just you and her. And not to talk about the markets or her portfolio. To say: It's important to me that you and I know each other. Because I want to be a resource for you, whatever is going on, whenever you need it, for any reason at all. That call changes everything for her, and therefore you. If you can't imagine yourself making that call, ask yourself why. And then ask yourself whether you've actually done the work, or whether you've just sent an invitation.

As a female financial planner, I've encountered a persistent misconception: the belief that women naturally make the financial decisions in their households. While it's true that many women manage the day-to-day spending choices, there's often an underlying lack of confidence and experience in broader financial planning. This isn't due to a lack of capability, but rather a reflection of societal norms and historical roles. Traditionally, women were expected to stay at home while men went out to work. Despite significant societal changes, many women still find themselves handling the majority of household chores. This imbalance can extend to financial planning. For example, I recently asked my husband to not get involved with the washing and leave it to me after he tried to help – a task I typically handle because it's part of my routine but arguably I should have just let him crack on as he was just trying to help and share the load!! 😅 This scenario highlights how ingrained these roles can be. When it comes to financial planning, many women find themselves speaking to male advisors. This dynamic can often lead to women deferring to their male counterparts, which can be particularly daunting during life-changing events such as divorce. The experience of discussing finances with a male advisor can leave many women feeling like they don’t know what they're doing, discouraging them from seeking the guidance they need, plus the relatability is often (not always!) lacking, which is crucial in forming and maintaining trusted relationships. It's crucial to recognise the shifting landscape. By 2030, women are expected to control 60% of the wealth in the UK. Yet, only 17% of financial advisors are women. This disparity highlights a significant opportunity for the financial planning industry to evolve and better support women in managing their wealth. As a female financial planner, my mission is to empower women to take control of their financial futures with confidence. Here are a few steps we can take together: ✅ Education and Awareness: Understanding financial fundamentals is the first step toward confidence. Educational workshops and resources can demystify financial planning. ✅ Finding the Right Advisor: Women should seek advisors who understand their unique perspectives and needs. Female advisors can offer relatable experiences and a sense of camaraderie. ✅ Open Communication: Encouraging open dialogue about finances within households can break down traditional roles and foster a more balanced approach to financial decision-making. ✅ Support Networks: Joining groups or networks focused on women's financial empowerment can provide support and shared learning experiences. #FinancialWellbeing #FemaleFinances

LETTER TO EMPLOYERS OF ACCOUNTANTS Dear Employers of Accountants, I have previously written extensively about how accountants can improve themselves and maintain professionalism in managing your business affairs. Today, I shift my focus to you—the employers of accountants. Employing a qualified accountant brings immense value to your business, and their contributions should not be taken lightly. Accounting is much more than balancing of numbers. It includes managing your financial transactions to produce reports that inform your strategic decisions, identifying risks to your business's sustainability, and implementing financial strategies to meet your organizational goals. While this may sound straightforward, I assure you, it is far more complex than it appears. Would you entrust your personal health to an unqualified doctor or someone who isn't a medical professional? Then why hand over the financial health of your business to an unqualified accountant or your in-laws simply because they are graduates? Accountants are the financial doctors of your business. They diagnose issues, provide solutions, and even perform financial surgery by correcting mistreated transactions. For the sake of your business, hire a qualified accountant and PAY THEM WELL. This cost will eventually pay off in the long run as they help you avoid costly financial mistakes. Below are key areas where hiring a qualified accountant will save you both financial and non-financial costs: 🔸EXPENSE MANAGEMENT: They analyse expenses, control overspending, and optimize spending to boost profitability 🔸TAX PLANNING: Skilled accountants manage tax obligations, reduce liabilities, and prevent penalties 🔸ACCESS TO FUNDS: Their financial tracking and forecasting secure loans and attract investors for business growth 🔸LOAN RISK MANAGEMENT: They assess loan risks, guide sound financial decisions, and prevent debt traps 🔸ENSURING FUNDS FOR SHAREHOLDERS: They manage cash flow, ensuring dividends for shareholders and maintaining confidence in financial stability 🔸ACCURATE FINANCIAL REPORTING: Compliance with legal standards builds trust with stakeholders and regulators, avoiding audits and legal issues 🔸 FRAUD DETECTION: Accountants set up controls to detect and prevent fraud, protecting your business. 🔸TIME SAVINGS: They handle complex financial tasks, freeing up your time to focus on business growth 🔸PREVENTING CASH FLOW ISSUES: Accountants monitor cash flow to ensure the business can meet financial obligations, avoiding operational disruptions 🔸BUSINESS CONTINUITY: Accountants create strategies to manage financial crises, ensuring the business remains a going concern and avoids folding or liquidation In conclusion, hiring a certified, skilled accountant might seem like an added expense, but it’s an investment that will save you considerable costs—both financial and non-financial—in the long run. Don’t risk the financial health of your business by cutting corners

A trend I continuously see: Widowed women firing their financial advisors. Why? Not because they don’t need guidance, but because most advisors (generally men) are so uncomfortable handling grief. Most financial professionals are trained to talk markets, analyze risk, and calculate returns. Most are taught: sell, sell, sell. Time is money--so spending time helping a newly widowed woman process her grief is not seen as a profitable way to spend time. Very few advisors have been trained on how to sit across from a woman who just lost her husband of 50 years and listen. Just listen. So what do these advisors do? They rush through the important conversations and focus on numbers instead of emotions. In the process, they make their client feel unheard, pressured, and dismissed in one of the most difficult times of her life. Nobody should feel rushed into life-altering financial choices while they’re still in shock. Those decisions have long-term consequences. People call me the “Widow Whisperer” because I recognize that widows aren’t just another account to manage. They’re human beings who are grieving. I've gone through the same process myself as a young widow. I know that it takes time, and a gentle approach. I’ve found that sometimes what a woman needs isn’t financial advice, but a cup of tea, some chocolate, and a box of tissues. A safe space where she can breathe before tackling the next steps, together with me. Because, honestly, if an advisor can’t sit with a widow in her grief, why should she trust them with her future?