A historic wealth transfer is putting trillions in women’s hands, yet women remain vastly underrepresented among the advisors guiding those decisions.
Carina Hatfield, LUTCF, CLCS, LACP
Secretary, National Association of Insurance and Financial Advisors; Owner, Weigner Insurance & Financial Services
The financial service industry is at a turning point, facing both a talent gap and a generational shift in wealth. Over the next 25 years, an estimated $124 trillion will change hands, with nearly 70% of it going to women as surviving spouses and heirs.
Yet, the professionals guiding these decisions don’t reflect that reality. Women make up just 24% of certified financial planners, a number that has barely moved in the past decade. Research consistently shows that many female clients prefer working with women advisors, valuing empathy, understanding, and connection. The need for more women in this profession is clear. The question is: How do you begin?
It started with family
For me, it started with family. My father and grandfather were agents, while my mother and grandmother supported operations. It was a male-dominated industry, and I didn’t immediately see myself in the business until 2005. My father was my mentor, my boss, and my biggest supporter. Everything changed in 2013 when he passed away, and in that moment, I had a choice: walk away or step forward into the unknown.
Stepping forward meant starting over. I had to apply for the opportunity to take over the agency, meet aggressive sales goals, complete extensive training, and pass licensing exams, all while navigating personal loss. There were long nights, moments of doubt, and a steep learning curve. But I also had support from my family, and from mentors I found through organizations like the National Association of Insurance and Financial Advisors, who helped me see what was possible if I kept going.
A career of relationships and purpose
That’s the reality of this profession: It’s not always easy. In fact, between 72% and 90% of new advisors leave within their first three to five years. However, those who stay discover something incredibly rewarding.
This is a career built on both relationships and purpose. Every day, I get to sit across from people and learn what matters most to them. I ask about their goals, their dreams, and what financial security means in their lives. It’s a unique balance where you need to be comfortable with numbers, strategies, and financial concepts while also translating that knowledge into clear, practical advice that helps clients feel confident about their future. Whether I’m helping protect a family, guiding someone through retirement planning, or supporting a client after a loss, the work is deeply human. You have to listen and meet people where they are.
What women bring to the work
Women bring powerful strengths to this role. Empathy, curiosity, and the ability to build trust are essential skills to have. Confidence also plays a role, but not in having all the answers. Some of my strongest client relationships have come from simply saying, “I don’t know, but I will find out for you.”
To any woman considering this path: You don’t need to have everything figured out. Start with a willingness to learn and a desire to help others. Build your support system; set small, achievable goals; and give yourself the grace to grow. The industry needs more women ready to lead the way forward.
