In 2023, women made up only 19% of registered investment advisors in the US wealth management sector, and the gaps run far beyond representation. Pay disparity and retention patterns show up in the numbers too, from women earning 82 cents to every dollar men earn to Black professionals making up just 3.2% of advisor roles. This post connects the statistics across the US, UK, and Canada to show where inequality is holding steady and where it is quietly widening.
Key Takeaways
- Women in US wealth management earn 82 cents for every dollar men earn, per 2023 CFA Institute gender pay gap analysis.
- Black wealth advisors face a 28% pay disparity compared to white peers in similar roles, 2022 Deloitte.
- In UK firms, female senior advisors earn 15% less than males, FCA 2023 equity report.
- In 2023, women comprised only 19% of registered investment advisors in the US wealth management sector, down from 21% in 2020.
- A 2022 Deloitte report found that female representation in entry-level wealth management roles stood at 28%, dropping to 15% at senior advisor levels.
- In the UK wealth management industry, women held 22.4% of client-facing positions as of 2023, per the Financial Conduct Authority data.
- Employee engagement scores for diverse groups in US wealth firms average 65% vs 78% for others, McKinsey 2023 inclusion survey.
- 42% of women advisors report feeling excluded from networking in wealth mgmt, Deloitte 2022.
- Black employee retention rate in UK wealth sector 68% vs 85% white, FCA 2023.
- In 2023, only 12% of C-suite executives in US wealth management firms were women, CFA Institute leadership data.
- Black representation in board positions at major wealth firms: 4.2% in 2023, Deloitte.
- UK wealth mgmt CEOs: 11% female per FCA 2023 exec stats.
- Black professionals held just 3.2% of wealth advisor positions in US firms in 2023, per CFA Institute.
- Hispanics/Latinos represented 4.1% of financial advisors in wealth management in 2022, according to Cerulli.
- Asian Americans made up 7.8% of senior wealth management roles in 2023 US data from Deloitte.
Pay gaps and underrepresentation persist for women and racialized advisors in wealth management worldwide.
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01 · Category
Equity And Compensation Statistics24 stats
01
Women in US wealth management earn 82 cents for every dollar men earn, per 2023 CFA Institute gender pay gap analysis.
02
Black wealth advisors face a 28% pay disparity compared to white peers in similar roles, 2022 Deloitte.
03
In UK firms, female senior advisors earn 15% less than males, FCA 2023 equity report.
04
Latino professionals in Canadian wealth mgmt have 22% lower median compensation, 2023 IIROC.
05
PwC 2023 found Asian women in Europe wealth sector earn 18% less than white men.
06
US RIA gender bonus gap: women receive 12% less, Cerulli 2023.
07
In Australia, Indigenous advisors earn 25% below average, FAAA 2022 equity data.
08
Goldman Sachs 2023: Black employees in wealth 20% pay gap.
09
Fidelity 2023 internal audit: women advisors 14% lower incentives.
10
Singapore MAS 2023: ethnic minorities 16% pay disparity in wealth roles.
11
Morgan Stanley US 2023: Hispanic men earn 10% more than Hispanic women.
12
BCG global 2022: LGBTQ+ wealth pros 13% less total comp.
13
Swiss wealth sector gender pay gap 17%, SBA 2023.
14
Vanguard 2023: diverse hires 11% lower starting salaries US.
15
UK CityUK 2022: BAME advisors 19% pay penalty.
16
J.P. Morgan 2023: women in wealth promotions lag by 21% salary bump.
17
Hong Kong 2023: expatriate vs local pay gap 30% in wealth mgmt HKMA.
18
Schwab 2023: female reps 9% less in commissions.
19
UBS global 2023: ethnic minorities 15% comp gap.
20
France AMF 2023: women wealth managers 16% pay gap.
21
LinkedIn 2023: US under-40 diverse advisors 18% lower pay.
22
Credit Suisse 2022: Asian women 22% comp disparity Europe.
23
Knight Frank 2023: global HNW advisors diverse pay 14% less.
24
Germany BVI 2023: migrant background 12% pay gap wealth.
Interpretation
Equity And Compensation Statistics Interpretation
Across the wealth management industry, women and underrepresented groups consistently earn less than their peers in equity and compensation outcomes, such as women making 82 cents on the dollar in the US and Black advisors facing a 28% pay disparity in similar roles.
02 · Category
Gender Diversity Statistics30 stats
01
In 2023, women comprised only 19% of registered investment advisors in the US wealth management sector, down from 21% in 2020.
02
A 2022 Deloitte report found that female representation in entry-level wealth management roles stood at 28%, dropping to 15% at senior advisor levels.
03
In the UK wealth management industry, women held 22.4% of client-facing positions as of 2023, per the Financial Conduct Authority data.
04
Capgemini's 2023 World Wealth Report indicated that globally, only 17% of high-net-worth individual advisors are women.
05
A 2021 survey by InvestmentNews revealed 24% of wealth management firm partners were women in the US.
06
In Canada, women make up 26% of wealth advisors according to the 2022 Advocis report.
07
PwC's 2023 Asset & Wealth Management Survey showed 20.1% female portfolio managers in Europe.
08
US-based RIA firms had 18.7% women in advisory roles per Cerulli Associates 2023 study.
09
In Australia, 23% of wealth planners were women in 2022, per Financial Planning Association data.
10
BlackRock's 2023 internal diversity report noted 21% women in wealth management client services.
11
Fidelity Investments reported 25% female financial representatives in wealth management as of 2023.
12
A 2022 McKinsey study found women at 16% of executive wealth management positions in Asia-Pacific.
13
In Switzerland, women represented 19.2% of private bankers in 2023 per Swiss Bankers Association.
14
Vanguard's 2023 DEI report showed 22% women advisors in US wealth platforms.
15
European wealth firms had 21.5% female relationship managers in 2022, per EFAMA data.
16
In 2023, 27% of new wealth management hires in the US were women, per LinkedIn Workforce Report.
17
Morgan Stanley's 2023 diversity stats indicated 24.3% women in wealth management branches.
18
A Knight Frank 2023 Wealth Report noted 18% global female wealth advisors.
19
In Singapore, women held 20.8% of wealth advisory roles in 2022, per MAS survey.
20
Charles Schwab's 2023 advisor survey found 23.1% female registered reps.
21
BCG's 2022 report on wealth management showed 19.4% women in client portfolios teams.
22
In 2023, 26% of wealth management trainees in Germany were women, per BVI data.
23
J.P. Morgan's 2023 DEI metrics revealed 22.7% female wealth strategists.
24
A 2021 Spectrem Group study found 17.5% women managing HNW client relationships.
25
In Hong Kong, 21% of private wealth advisors were women in 2023, per HKMA.
26
UBS's 2023 global wealth report indicated 20.2% female client advisors.
27
In the US, millennial women advisors grew to 29% of under-40 cohort in 2023.
28
Credit Suisse's 2022 stats showed 18.9% women in UHNW wealth teams.
29
A 2023 Family Wealth Report survey found 24% female principals in multi-family offices.
30
In France, 23.5% of wealth managers were women per AMF 2023 data.
Interpretation
Gender Diversity Statistics Interpretation
Across the gender diversity statistics, women remain significantly underrepresented in wealth management, accounting for just 19% of US registered investment advisors in 2023 after falling from 21% in 2020 and dropping sharply from 28% in entry-level roles to 15% at senior levels, signaling a persistent pipeline problem as careers advance.
03 · Category
Inclusion And Retention Statistics24 stats
01
Employee engagement scores for diverse groups in US wealth firms average 65% vs 78% for others, McKinsey 2023 inclusion survey.
02
42% of women advisors report feeling excluded from networking in wealth mgmt, Deloitte 2022.
03
Black employee retention rate in UK wealth sector 68% vs 85% white, FCA 2023.
04
Canadian Latino advisors turnover 22% higher, IIROC 2023 retention data.
05
PwC 2023: 35% of LGBTQ+ in Europe wealth feel unsafe disclosing identity.
06
US RIAs diverse retention improved to 72% with DEI programs, Cerulli 2023.
07
Australia Indigenous retention in wealth 55%, FAAA 2022.
08
Goldman Sachs 2023: belonging scores for minorities 62/100.
09
Fidelity 2023: women retention 78% vs men 84%.
10
Singapore ethnic minorities inclusion score 71%, MAS 2023 survey.
11
Morgan Stanley 2023: Hispanic turnover 19% annual.
12
BCG 2022: global diverse retention gap 15%.
13
Swiss firms 2023: women inclusion index 74/100 SBA.
14
Vanguard 2023: diverse ERG participation boosts retention by 12%.
15
UK BAME inclusion surveys show 48% microaggression reports, CityUK 2022.
16
J.P. Morgan 2023: DEI training correlates to 10% higher retention diverse.
17
HK 2023: local vs expat inclusion gap 20 points HKMA.
18
Schwab 2023: advisor inclusion scores rose 8% post-DEI.
19
UBS 2023: global minority retention 70%.
20
France 2023: diverse belonging 67%, AMF surveys.
21
LinkedIn 2023: young diverse advisors 25% higher intent to leave.
22
Credit Suisse 2022: women retention Europe wealth 75%.
23
Knight Frank 2023: HNW team inclusion 69% average.
24
Germany 2023: migrant inclusion 65/100 BVI.
Interpretation
Inclusion And Retention Statistics Interpretation
Inclusion and retention gaps remain stark, with diverse employees in US wealth firms scoring 65% on engagement versus 78% for others and Black employees in the UK retaining at 68% compared with 85% for white employees, underscoring why targeted inclusion efforts are essential to keep talent.
More related reading
04 · Category
Leadership And Representation Statistics24 stats
01
In 2023, only 12% of C-suite executives in US wealth management firms were women, CFA Institute leadership data.
02
Black representation in board positions at major wealth firms: 4.2% in 2023, Deloitte.
03
UK wealth mgmt CEOs: 11% female per FCA 2023 exec stats.
04
Canadian wealth firm chairs: 3.1% visible minorities, IIROC 2023.
05
PwC 2023 Europe: 9.8% women managing directors wealth.
06
US RIA partners: 6.5% diverse ethnicity, Cerulli 2023 leadership.
07
Australia wealth CIOs: 2.4% Indigenous, FAAA 2022.
08
Goldman Sachs 2023: 8.7% women in wealth leadership.
09
Fidelity exec team: 5.3% Black/Hispanic 2023.
10
Singapore wealth heads: 4.9% ethnic minority MAS 2023.
11
Morgan Stanley 2023: 10.2% diverse branch managers US.
12
BCG 2022 global: 7.1% women C-level wealth.
13
Swiss private bank chairs: 13% female SBA 2023.
14
Vanguard leadership: 11.5% women wealth execs 2023.
15
UK wealth boards: 3.9% BAME CityUK 2022.
16
J.P. Morgan 2023: 9.4% minority wealth division heads.
17
HK wealth firm partners: 6.2% local ethnic 2023 HKMA.
18
Schwab 2023: 12.1% women regional leaders.
19
UBS 2023: 8.3% diverse global wealth execs.
20
France wealth CEOs: 4.7% diverse AMF 2023.
21
LinkedIn 2023: under-40 leadership diverse 7.8% US wealth.
22
Credit Suisse 2022: 10.9% women UHNW leaders Europe.
23
Knight Frank 2023: 9.2% diverse family office principals.
24
Germany wealth boards: 5.6% non-German BVI 2023.
Interpretation
Leadership And Representation Statistics Interpretation
Across wealth management leadership roles, representation remains strikingly low with women holding just 12% of US C-suite posts in 2023 and visible or diverse representation often in the single digits such as 4.2% Black directors and 3.1% visible-minority chairs in Canada, underscoring a leadership gap that is especially pronounced in decision-making positions.
05 · Category
Racial And Ethnic Diversity Statistics26 stats
01
Black professionals held just 3.2% of wealth advisor positions in US firms in 2023, per CFA Institute.
02
Hispanics/Latinos represented 4.1% of financial advisors in wealth management in 2022, according to Cerulli.
03
Asian Americans made up 7.8% of senior wealth management roles in 2023 US data from Deloitte.
04
In the UK, Black advisors comprised 2.9% of the wealth management workforce in 2023 FCA report.
05
Native American representation in US wealth firms was 0.8% in 2022, per McKinsey analysis.
06
In Canada, South Asian wealth advisors were 5.2% of total in 2023 IIROC stats.
07
PwC 2023 survey found 4.5% Black executives in European wealth management.
08
US RIAs had 3.7% Latino portfolio managers in 2023, Cerulli Associates.
09
In Australia, Indigenous advisors were 1.1% in wealth sector per 2022 FAAA data.
10
Goldman Sachs 2023 report showed 6.3% Asian client-facing wealth roles.
11
Fidelity's 2023 ethnic breakdown: 2.4% Black wealth advisors.
12
In Singapore, 8.2% of wealth managers were Indian ethnicity in 2023 MAS.
13
Morgan Stanley 2023: 4.8% Hispanic relationship managers US.
14
BCG 2022 global study: 3.1% African-origin in APAC wealth firms.
15
In Switzerland, 2.7% non-white wealth bankers per 2023 SBA.
16
Vanguard 2023: 5.9% Asian advisors in US wealth.
17
UK wealth firms had 1.8% Middle Eastern ethnicity in 2022 per CityUK.
18
J.P. Morgan 2023: 3.5% Black strategists in wealth mgmt.
19
In Hong Kong, 7.4% South Asian private bankers 2023 HKMA.
20
Charles Schwab 2023: 4.2% Latino registered advisors.
21
UBS 2023 global: 2.9% Black client advisors worldwide.
22
In France, 3.3% North African wealth managers per AMF 2023.
23
US millennial Black advisors: 4.1% of under-40 in 2023 LinkedIn.
24
Credit Suisse 2022: 5.2% Asian UHNW teams Europe.
25
Knight Frank 2023: 3.6% diverse ethnic in global wealth advisors.
26
In Germany, 2.1% Turkish-origin wealth planners 2023 BVI.
Interpretation
Racial And Ethnic Diversity Statistics Interpretation
Racial and ethnic representation in wealth management remains starkly uneven, with Black professionals at just 3.2% of US wealth advisor roles in 2023 and Native Americans at 0.8% in 2022, even as other groups like Asian Americans hold 7.8% of senior roles in 2023.
report visual · Key figures
Pay and representation gaps persist across the wealth management industry
Across regions and roles, DEI disparities show up as measurable pay penalties and uneven representation—while some recruitment gains are offset by lower retention or gaps at senior levels.
28%
A 2022 Deloitte report found that female representation in entry-level wealth management roles stood at 28%, dropping to
19%
In 2023, women comprised only 19% of registered investment advisors in the US wealth management sector, down from 21% in
21%
J.P. Morgan 2023: women in wealth promotions lag by 21% salary bump.
12%
In 2023, only 12% of C-suite executives in US wealth management firms were women, CFA Institute leadership data.
68%
Black employee retention rate in UK wealth sector 68% vs 85% white, FCA 2023.
72%
US RIAs diverse retention improved to 72% with DEI programs, Cerulli 2023.
Reference
Cite This Report
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APA
Henrik Dahl. (2026, February 13). Diversity Equity And Inclusion In The Wealth Management Industry Statistics. Gitnux. https://gitnux.org/diversity-equity-and-inclusion-in-the-wealth-management-industry-statistics
MLA
Henrik Dahl. "Diversity Equity And Inclusion In The Wealth Management Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/diversity-equity-and-inclusion-in-the-wealth-management-industry-statistics.
Chicago
Henrik Dahl. 2026. "Diversity Equity And Inclusion In The Wealth Management Industry Statistics." Gitnux. https://gitnux.org/diversity-equity-and-inclusion-in-the-wealth-management-industry-statistics.
Sources & references
36 datasets cited across this report · attribution is report-level