In our most recent podcast with Chantal McNeily, Investment and Wealth Advisor at RBC Dominion Securities, we discuss the unique challenges women face when it comes to managing our finances and achieving financial security. It is no secret that women face a number of factors that make it harder to get there: we still earn less (87 cents on the dollar compared to men), take more time off to care for family, and live longer.

What I did not appreciate though, is this important trend: privately held wealth for Canadian women has been growing rapidly and is moving towards representing approximately 50% of total wealth in Canada.

Another important stat Chantal highlighted is that 80% of women leave their husband’s advisor within one year of his passing. Financial advisors and wealth management firms need to be asking themselves how they are adapting their service models and approach to investing to ensure it is resonating with women!