Financial Planning Transitions: The Gender Difference

November 2004
Journal of Financial Planning;Nov2004, Vol. 17 Issue 11, p16
Academic Journal
This article discusses the report released by FP Transitions, as of November 2004, concerning gender differences in financial planning practice. Although the median sales price of a financial planning practice does not vary much by the owner's gender, the average woman-run practice has 180 clients versus 260 clients for the average male-run firm. In other words, women-run practices edge out men-run practices and with just two-thirds the size of client base. FP Transitions says that a mere one percent of practice buyers are women. The report also notes that women sellers tend to be much more successful in selling their practices than men and that women's selling deals go much more smoothly. According to FP Transitions, women do their homework, are ready to sell and know why they are selling, are selling more efficient practices, and approach deals with no ego, just a business focus.


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