Authored by CNote’s VP of Business Development, Danielle Burns.
As we celebrate Women’s History Month here at CNote, it’s important to recognize the vital role that women have played in the financial industry.
The financial industry has long been dominated by men, leading to significant gender disparities in pay and leadership positions. A 2020 report by the National Women’s Law Center found that women in finance earn 71 cents for every dollar earned by men. Additionally, women make up only 22% of executives in the finance and insurance industries, according to a 2021 report by Catalyst.
Despite this, women in finance have been at the forefront of making financial resources and opportunities more inclusive and accessible. According to a report by Boston Consulting Group, women-led companies are more likely to invest in women and other underrepresented groups. In fact, the report found that women-led companies invested 2.3 times more in businesses founded by women than male-led companies. Equally, they are often committed to advancing financial literacy and education, particularly in underserved communities, and are more likely to invest in companies that have a positive social and environmental impact.
Today, there are a growing number of women-led asset managers, impact investing firms, financial planners and VC funds that are pushing finance forward to better support women, BIPOC communities, and low-income groups with products and services to match their needs. Supporting these companies as we approach a potential economic downturn and continue to grapple with the economic fallout of Covid-19 is an important step towards financial inclusion and opportunity when it could matter most.
Here are a few examples of women-led firms you should consider supporting this Women’s History Month.
Adasina Social Capital is a registered investment advisory firm that is led by Rachel Robasciotti. The firm specializes in impact investing and social justice, with a focus on investing in companies that promote social change. Adasina is committed to closing the wealth gap by investing in underrepresented communities and providing tailored financial services to clients.
Zevin Asset Management is an independent, employee-owned investment advisory firm that is led by Sonia Kowal. The company specializes in sustainable investing and social responsibility, and manages assets with the goal of creating positive social and environmental impact. Zevin Asset Management is committed to promoting diversity and inclusion, both within the company and in its investments.
2050 Wealth Partners is a financial planning and investment advisory firm that is led by Rianka Dorsainvil and Lazetta Rainey Braxton. The firm focuses on serving underrepresented communities, including women and people of color, and is committed to closing the gender and racial wealth gaps. 2050 Wealth Partners provides customized financial planning services and investment advice to help clients achieve their financial goals.
Empowering women in finance, and working with financial companies led by women, is an opportunity for all of us to promote a more equitable financial industry. By investing in companies that are committed to social responsibility, sustainability, and diversity, we can help to close the wealth gap. This Women’s History Month, let’s celebrate the important role that women have played in finance and support the women-led financial companies that are making an impact today.