Giving women a seat at the financial table

March 8 marks International Women’s Day and this year’s theme – “Give to Gain” – reminds us that meaningful progress happens when individuals and institutions intentionally give their time, knowledge, and support to help women advance. Nowhere is this more relevant than in the world of financial planning.

Despite decades of progress, women continue to face structural and economic barriers that limit their financial security – at today’s pace, it will take nearly three centuries to close these gaps. In Canada, these challenges continue to show up in lower lifetime earnings, unpaid caregiving responsibilities, longer lifespans, and lower retirement readiness.

For financial advisors, this landscape presents both an obligation and an opportunity: to intentionally support women’s financial empowerment and, in doing so, drive lasting systemic change.

Expanding access: Giving women a clear path to professional financial advice

One of the most effective ways advisors can “give to gain” is by expanding access to advice – especially for women who have been historically underserved or excluded entirely.

Women are more likely to take career breaks, work part-time, or shoulder unpaid caregiving roles, all of which contribute to lower lifetime earnings and reduced retirement savings. Yet they are also more likely to manage household finances, oversee major family decisions, and ultimately inherit wealth.

Still, many women report feeling underserved by the financial industry. Advisors can shift this by proactively including women in planning conversations, not just their partners, and designing planning sessions that prioritize education, clarity, and confidence-building. They can also offer financial literacy resources tailored to women at different life stages (early career, motherhood, caregiving, widowhood) and create intentionally inclusive spaces that encourage questions and conversation without judgment.

When advisors give their time and expertise in ways that meet women where they are, women gain not only knowledge, but lasting financial confidence.

Closing legal and retirement gaps: Planning that accounts for gendered realities

Because women tend to live longer and experience more career interruptions, traditional planning models often fall short. Advisors can drive equity by designing financial plans that:

• Address longevity risk: Women often need retirement portfolios that last longer and withstand more economic shocks.
• Account for income interruptions: Career breaks – whether for childcare, elder care, or personal health – require strategies that rebuild lost saving years.
• Strengthen legal protections: Advisors can help women ensure they have updated wills, powers of attorney, beneficiary designations, financial and healthcare directives and clear estate structures that honour their wishes.

These aren’t administrative documents; they are tools that protect women from vulnerability, financial abuse, and unintended outcomes – particularly if health declines or life circumstances change.

However, delivering truly personalized financial plans that reflect women’s needs requires advisors to have the right tools. According to the IG Wealth Management Advisor Perception Industry Study (“the Study”), 45 per cent of advisors rate their access to technology that provides a complete view of a client’s financial picture as fair or below, while 40 per cent say the same about access to financial planning tools and support. To effectively serve clients – particularly women with increasingly complex financial lives – advisors must first be supported by their dealer firms.

Educating women earlier: Empowerment through knowledge

Financial literacy is one of the most effective levers for gender equality. When advisors invest in educating women earlier – before major life decisions – they help shift long-term outcomes.

Advisors can “give” by offering planning guidance for first-time investors or new professionals, providing resources on budgeting, credit, investing and risk management, creating intergenerational planning sessions that include daughters and granddaughters, and encouraging women to participate in financial discussions early in relationships. They can also host financial planning literacy and workshops for young women. However, an overwhelming 60 per cent of advisors rank dealer support for hosting client events and seminars as fair or below, according to The Study.

Education empowers women to ask better questions, make informed decisions, and take ownership of their financial futures — but advisors need the right tools and support to make that education truly effective.

International Women’s Day is a reminder that real progress is driven by deliberate action – by what each of us chooses to give. For advisors, that means giving time to understand women’s experiences, education that builds capability and confidence, and planning strategies tailored to real-life risks and responsibilities.

When advisors commit to giving in these ways, women gain stronger financial foundations – and our entire financial ecosystem becomes more equitable, resilient, and representative.

By Christine Van Cauwenberghe, Head of Financial Planning at IG Wealth Management