CIRO research exposes what women actually want from financial advisors—and it's not what most are offering.
A new CIRO Investor Advisory Panel study reveals that while women value investment performance as much as men do, they're significantly more likely to want advisors who speak plainly, show respect and demonstrate understanding of their life goals.
The disconnect matters: women make up a substantial client base, yet many lack the confidence to invest in the first place.
The research, conducted with Innovative Research Group, found that 47 percent of women feel confident making investment decisions, compared with 66 percent of men.
That confidence gap—19 percentage points—translates directly into behaviour: only 43 percent of women identify as investors versus 56 percent of men.
Among women who do work with advisors, 57 percent say it's important that their advisor speaks without jargon, compared with just 40 percent of men.
Similarly, 56 percent of women prioritise being treated with respect versus 47 percent of men. And 52 percent of women want advisors who demonstrate understanding of their life circumstances and goals, versus 40 percent of men.
Good performance and returns remain the top priority for both (60 percent of women, 54 percent of men), but advisors who combine strong returns with clear communication and genuine attentiveness to clients' situations differentiate themselves with women investors.
Women aged 18–34 present a particular challenge.
Among non-investors in this age group, 38 percent say they don't know where to start, compared with 26 percent of men the same age.
Young women are also more likely to cite debt repayment as a barrier.
These early-stage obstacles can calcify into lifelong gaps: women who don't invest young often remain inactive investors.
The gender gap in saving and investing nearly disappears at higher income levels.
Among those earning over $100K annually, 78 percent of both women and men invest. Below $60K, the spread widens considerably. This suggests that confidence and access—not capability—drive the divide.
First-generation Canadian women report experiencing differential treatment from advisors compared with their spouses more often than first-generation Canadian men do.
Women who hold primary responsibility for household finances are also more likely to report advisors not listening to their ideas or treating them differently than their partners.
