Women are reshaping the future of finance: Here are 6 stories you've missed

In a first for Financial Planning, a woman advisor, Jenny Tsai of Morgan Stanley, not only took the top spot in the publication’s Top 40 Brokers Under 40 list, but second and third places were also taken by women advisors: Krystal Julius of Merrill Lynch and Xi Qiao of UBS, respectively.   

The annual ranking of elite wirehouse and regional brokers is typically male- and white-dominated. Prior to this year’s ranking, just two women had made it into the top 10 in the last decade: Qiao last year and Nicole Christians of Merrill Lynch on four previous occasions.

“This is a great thing that’s happening, where we’re seeing a lot of women take control and we’re finding ways to work with them,” said Qiao. However, while their achievement is a sign of progress, the fact that it is so exceptional in the industry serves to highlight that more leveling-up work needs to be done.

Read more: These women are the top 3 young brokers

As much as $3.2 trillion could flow into investments worldwide if women put their money into the market in the same numbers as men, according to studies from UBS Global Wealth Management and BNY Mellon. The reason? According to the report, women generally feel undervalued by advisors and that their investment goals aren’t taken seriously.

“We see that women are interested in investing, but there is a gap between intention and action,” said Marianna Mamou, the author of the UBS study. “If the advice was suited to what they’re looking for, there could be a huge jump in assets invested.”

The reports found that women feel they are not the target audience for advisors, that they think investing is jargon-filled and confusing, and that advisors don’t relate to their objectives.  

Read more: Why don’t more women invest? The system feels stacked against them

Angie Spielman, who moved from Panama to the U.S. at the age of 15, has grown used to the feeling of being the only woman in the room as an advisor in an industry that is not known for either its diversity or inclusion.

“Whether it be my gender or my race, I've always kind of felt like the odd man out,” Spielman said. “And I think at times, I’ve had to work twice as hard as other people because of what I look like.”

Inspired by her mother, her diligence is now paying off. She was recently promoted to founding partner at California-based investment firm Manhattan West, where she is reaping the rewards of working with a leader who “sees everyone equally for what they can deliver, their merits and their hard work.” 

Read more: Manhattan West’s new founding partner on how an immigrant woman succeeded in wealth management with a little help from mom