International Women’s Day is being celebrated worldwide today—an opportune moment to pause and reflect upon the important role women play in managing their wealth as well as the vital position professional women hold in the financial industry.
According to the Bank of Montreal’s Wealth Institute, women now control more than half of the personal wealth in the U.S., a percentage that is expected to grow. And as women are expected to outlive men by an average of five years, many women will find themselves having sole responsibility for their family wealth at some point.
While women have made great strides in the workplace, the financial services and investment fields still tend to be heavily male-dominated. According to a recent Harvard Business Review study, women hold only 20 percent of executive committee roles at financial firms.
That’s one of the reasons why Pennsylvania Trust is particularly proud that more than half of our leadership team—four of seven management team members—are women. Furthermore, women represent 54 percent of our total staff and many hold officer level positions.
As we mark International Women’s Day, please join us in saluting our clients who are women along with the many women and men who work so hard at Pennsylvania Trust to provide unparalleled care and service to our clients and their families.
We will continue working to empower, educate, and enrich the lives of our female clients and colleagues and hope you will join us in celebrating the women in your lives, as well.