The private wealth sector thrives on trust, strong relationships, and strategic insight – natural qualities that women often bring to the table. Despite this, women are underrepresented in wealth management, making up only 25% of advisors and a mere 13% of senior advisors. But change is happening, and firms like LGT Crestone are taking proactive steps to foster inclusive environments where women can excel.
On International Women’s Day, LGT Crestone invited Yolanda to share the key findings from our Women in wealth report, and facilitate a conversation between LGT Crestone Partner Matthew Camilleri and Associate Adviser Ester Chen, showcasing the rewards of a private wealth career.
A career that makes a difference
Private wealth is where numbers meet people. It’s a field requiring not only sharp analytical abilities but also the emotional intelligence to build lasting, meaningful relationships with clients. For Matthew, this balance is central to the rewarding nature of the job. "It’s about helping clients achieve their dreams while building relationships rooted in trust and understanding," he shared.
Ester echoed this sentiment, highlighting how empowering clients adds purpose to the role. She also emphasised the intellectual challenge and flexibility that private wealth offers, which has allowed her to craft a sustainable and fulfilling career.
However, navigating a traditionally male-dominated field hasn’t been without obstacles. Ester recalled instances when she was the only woman in a meeting or at an industry event. "When you don’t have a particularly loud voice, you fear that your opinion isn’t valid or won’t be heard," she said candidly. But working for a firm like LGT Crestone has flipped that narrative. “I’m really lucky to work in a team where we all have different opinions and ways of doing things, and my opinion is valued.”
Ester has also observed a positive shift across the industry in recent years. “It’s heartening to see the industry evolving and more women stepping into leadership roles across private wealth.”
Why we need more women in wealth management
The private wealth market is booming, with forecasts predicting it will reach $3 trillion by 2025. On top of this, an unprecedented intergenerational transfer of wealth to women is underway. It’s no surprise, then, that demand is growing for female advisers, especially among high-net-worth female clients.
"Clients don’t want to see three men in white shirts, blue suits, and black shoes walking into a room at the same time anymore. Our client base is diverse, and they expect diversity of thought and perspectives from their advisers too." Matthew said.
Our Women in Wealth report further highlighted the importance of gender diversity, inspiring four new private wealth firms to join Future IM/Pact this year. With leading firms like Morgan Stanley, Morgans Financial, Evans & Partners, and Canaccord Genuity now committed, we’re excited to inspire and enable more women to explore careers in private wealth.
Endless opportunities await
For women considering a career in private wealth, Ester’s advice is simple but powerful. “Really go for it!” Whether you love numbers, people, strategy, or all three, there’s a place for your talents in this field.
Matthew reinforced the vast potential for Ester, and all women, in this industry. “Whatever type of advisor Ester wants to be, she can achieve that. She’s never going to be pigeonholed into a certain role. Advisers have the freedom to shape their own careers.”
If you’ve dreamed of a career where you can make a difference, connect with clients on a meaningful level, and thrive in a supportive, flexible environment, private wealth could be your calling.
Read more about why private wealth is a great career path for women here.
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