34% of women investors say their advisor is condescending: Nationwide

The vast majority of women investors, 95%, believe their financial advisors treat them with the same respect as their male counterparts. Yet many also report that their advisors have serious communication blind spots, according to a new survey from Nationwide.

Just over one-third of women investors, 34%, felt their advisor was "condescending when explaining recommendations or responding to questions"; 32% said their advisor assumed they knew less about finances than they really did; and 29% said their advisor sometimes "mansplained" concepts to them. 

"I would have advisors really take those stats in," said Jillian Berry, senior director of Birmingham, Alabama-based RFG Advisory's StrongHer Money program. "As women, I feel like we have been conditioned to tolerate a lower bar, and those numbers speak to that."

Advisors can set that bar higher, Berry said, by auditing the ways they engage and interact with clients, including reevaluating the physical office environment where they meet with clients to ensure it's a welcoming, safe space. 

The survey data indicates that financial advisors may be unaware of their communication missteps, as the overwhelming majority of surveyed advisors, 91%, said they were confident in their ability to meet women investors' needs and expectations.  

READ MORE: What many advisors get wrong about women investors

However, just 37% reported that they understand "women clients' financial and retirement goals." The results may point to a disconnect between what advisors think they are delivering and what they actually provide. 

Berry said that "confidence gap" reflects what she's seen on the ground at StrongHer Money, which helps independent advisors better connect with and serve women clients via educational resources and community building. 

"When we look through all the trainings that we do in our program," Berry said, "I think it really comes to light for advisors to really start to understand that maybe they're not as effective as they thought they were." 

Such training appears to be far from industry standard; only one-quarter of advisors report having received training "on the unique financial challenges women face," according to the Nationwide survey. 

READ MORE: Women face unique retirement challenges — but advisors can help

Yet learning how to win and better serve women clients can pay off for advisors' growth; research has shown that women tend to seek referrals for financial advisors from other women. 

A study from 2023 found that poor communication or infrequent communication can lead clients to ditch their financial advisor in search of an advisor who's a better communicator.

"I believe advisors have the best intentions when they are trying to break down financial topics with their women clients; however, it's important to recognize that what may be intended as a helpful explanation can land as dismissive or condescending," said Suzanne Ricklin, senior vice president of Nationwide Retirement Solutions Distribution, in a statement. "When advisors shift their emphasis from explaining to asking questions and listening to what is most important to their women clients, they can build stronger relationships and more aligned goals."

The Nationwide Retirement Institute study, "Women Investors," was conducted with the Harris Poll and surveyed 528 advisors (including 119 women advisors) and 2,012 investors (including 421 women investors who worked with advisors) from Jan. 15 to Feb. 6, 2026.