Empowering Women in Wealth: Taking Control of Your Financial Future
Marissa Mah, B.Comm., LL.B., LL.M. - Mar 10, 2025
Despite women being on track to control nearly half of all accumulated financial wealth in Canada, many are still underserved by the wealth management industry. At the Mah Investment Group, we are committed to changing that.
March 8 marked International Women’s Day – a time to celebrate the achievements of women and highlight the challenges that remain. One pressing issue facing Canadian women today is financial security. Despite women being on track to control nearly half of all accumulated financial wealth in Canada – approximately $4 trillion by 2028 – many are still underserved by the wealth management industry. At the Mah Investment Group, we are committed to changing that.
Key Takeaways
- Women face unique financial challenges, from longer life expectancy to career gaps, making personalized financial planning essential.
- Gaining confidence through financial literacy and proactive engagement creates empowerment and independence.
- Aligning your money with your goals (whether legacy, security, or freedom) builds a more intentional and fulfilling financial life.
The Wealth Gap: A Missed Opportunity
Women are increasingly taking control of their financial futures, but the industry has been slow to adapt. Studies show that women prefer working with women financial advisors, yet only 15% of financial advisors in Canada are women. This lack of representation is more than just an industry gap – It’s a disservice to women who are often the sole financial decision-makers in their households.
While we’ve seen a rise in women seeking financial independence since 2017, external challenges such as the COVID-19 pandemic have disproportionately affected their financial security. The ‘she-cession’ saw higher unemployment rates for women and increased childcare responsibilities. However, it also sparked a shift: more women than ever are prioritizing their financial futures. Research shows that in the U.S., the number of women investing outside their retirement plans has increased significantly, with millennial women leading the charge.
Why Financial Planning Matters for Women
Women face unique financial challenges, including career breaks, longer life expectancies, and lower risk tolerance. These factors contribute to a significant retirement savings gap. According to the 2024 Canadian Retirement Survey, 63% of women (vs 52% of men) worry about not being able to achieve a financially secure retirement. Despite increased awareness and interest in investing, many women still struggle to translate intention into action.
The financial industry must do better. Women often report dissatisfaction with their financial advice, with 67% of female investors saying their wealth managers don’t understand their needs. This dissatisfaction is evident in the fact that 70% of women switch financial institutions within a year of their spouse’s passing. The industry must shift towards offering tailored financial advice that aligns with women’s long-term goals and values.
The Mah Investment Group Difference
At the Mah Investment Group, we recognize the challenges women face in wealth management. We are dedicated to providing a supportive, transparent, and empowering approach to financial planning. Our team understands the importance of aligning investment strategies with life goals, ensuring that women have the knowledge and confidence to build lasting financial security.
We have helped many female professionals take control of their financial futures, and we are proud to share their success stories. Watch our video featuring testimonials from women who have partnered with us and learned how to build their wealth with confidence.