Male domination in the world of financial services may finally be giving way to an increase in the number of female financial advisors, although it's going to be a while until anything approaching parity is reached.
According to data from Cerulli Associates,7.9 percent of financial advisors were women in 2012. That figure jumped to 11.5 percent last year, offering a contrary view to a trend reported last year in a Pershing study that saw women leaving the industry rather than joining it.
While Pershing estimated at the time that the number of women advisors was considerably higher than the Cerulli study did, it also said that one key to growth for financial services businesses in general was the recruitment of women to serve as advisors.
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