Financial Advisor: “Why Women Have A Vital Role To Play In Financial Planning”
Financial Advisor, March 30, 2022 —Marguerita Cheng, CFP® Pro, is featured in today’s article by Karen DeMasters, who writes: “Being a financial advisor lets you help people and get paid for it, which is particularly appropriate for women, according to Kim Hayes, director of corporate relations at the Certified Financial Planner Board of Standards. A career as a financial advisor is a good fit for women from a variety of perspectives, both professionally and personally, Hayes and two female advisors said in interviews.”
Successful financial planning requires collaboration and, in general, “women value collaboration and understand the need for a comprehensive overview of finances when making a plan,” said Marguerita Cheng, CEO of Blue Ocean Global Wealth and of Blue Ocean Global Technology in Gaithersburg, Md., and a CFP Board Ambassador.
“Being a financial planner is intellectually stimulating, emotionally gratifying, and financially rewarding, plus it allows the planner to make a positive impact on the community,” which makes it a good career for women and men, Cheng explained. “A career in financial planning gives you freedom and flexibility. The advisor can choose her specialty and what kind of clients she wants to work with. This is good for women because we already have so many roles in life that it is easy to relate to different types of clients.”
In many instances, it also seems easier for a woman advisor to include both the wife and husband in a conversation. Cheng explained that she recently had a couple as clients and the wife asked about life insurance, which she then explained to both of them. The husband later thanked her for including the wife in the conversation.
“If I don’t know something I will reach out to others to find the answer for the client,” Cheng said. “In addition, it is important to have female advisors because young women and career changers need to see successful female advisors who are role models.”