Personal Finance Expert Jean Chatzky and Investor Advocate Pam Krueger Launch a New Tool to Help Empower Women to Search for, Vet, and Hire a Qualified Advisor with Confidence
Jean Chatzky’s HerMoney and Wealthramp, a financial advisor referral service cultivated by Pam Krueger, today launched a new partnership to make it easier for women to find trustworthy financial advisors. The collaboration offers HerMoney readers and all investors access to conflict-free financial advice through Wealthramp’s network of over 230 independent Registered Investment Advisors. Individuals can find independent, fee-only fiduciary investment advisors or financial planners that have been verified and personally vetted by using the “Find Your Advisor” tool at www.hermoney.com/wealthramp/.
Since the onset of the pandemic and ensuing economic crisis, 34% of advisors surveyed by the CFP Board have reported an increase in inquiries from prospective clients. Americans are looking for guidance as they grapple with an uncertain economic future. But knowing where to go to find a trusted advisor can be challenging. While there are several associations and nonprofits that provide lists of fee-only advisors, the responsibility is on investors to independently vet these financial professionals to ensure they act solely in clients’ best interests.
“The question I am asked most often by women is: ‘Where can I find the right advisor for me?,’” said Jean Chatzky, CEO of HerMoney.com. “It’s often clear that they want me — like they would want a friend — to give them a personalized recommendation, which of course is not always possible. Our partnership with Wealthramp, though, paves the way to give them a recommendation that I feel I can stand behind.”
Pam Krueger, CEO and Founder of Wealthramp, adds: “Just because an advisor is fee-only and held to the SEC’s fiduciary standard, doesn’t mean you can take any title or designation as a stamp of approval. Many CFPs are still brokers who don’t work only and directly for you — the client — and therefore may not always put your interests first. This is why I personally vet every advisor in our network, looking at the whole picture of the advisor and their firm. Our process is rigorous so individuals have the assurance that the advisors with whom they’re matched are truly experienced, qualified, collaborative and, most importantly, focused solely on their financial needs.”
Through the HerMoney and Wealthramp “Find Your Advisor” tool, women investors can find a vetted advisor who aligns with their financial needs and goals. Results are immediate after users complete a questionnaire, allowing them to instantly learn more about each of their matched advisors and access their industry experience, credentials and regulatory records. It is entirely up to the individual to initiate a conversation with any of the advisors. The platform flips the power dynamics and puts women in control, equipping them with the knowledge to understand the type of advisor that’s right for them and empowering them to make the first move with a vetted advisor who has been matched with them based on their unique preferences and priorities. HerMoney provides an additional layer of guidance through its content, which helps readers know what questions to ask advisors and how to approach financial planning.
Women are still underserved in the financial services industry today. Although efforts are underway to improve the diversity of the profession, less than a quarter of advisors with a CFP designation are women, according to the CFP Board.
“The experience of receiving financial advice has historically been approached in linear ways, and women by nature have a different perspective. This is most demonstrated by the career paths we often take and the values that matter most to us,” said Kim Curtis, CEO of Wealth Legacy Institute and a fiduciary financial advisor on the Wealthramp network. “The capacity to listen deeply, communicate jargon-free, ask about aspects of life that are meaningful to women investors, things like family, relationships, community, impact — all of these factors influence whether a woman will feel authentically herself when working with an advisor.”
In comparison to industry benchmarks, one-third of Wealthramp advisors are women. By working together, HerMoney and Wealthramp are empowering women to search for advisors in their own, authentic ways and creating a community that can support women in feeling greater alignment with their money, and most especially with a trusted advisor who will effectively guide them in their retirement planning.
Learn more about the “Find Your Advisor” tool by HerMoney and Wealthramp at www.hermoney.com/wealthramp/.
About HerMoney Media
HerMoney is a new digital media company focused on improving the relationships women have with money. Started by personal finance expert Jean Chatzky, the mission of HerMoney is to level the playing field for financial security, confidence and power with content that is welcoming, thought-provoking, bold, unbiased and always smart. HerMoney delivers the information women need to manage their money so they can focus on their lives. HerMoney Media is the owner of HerMoney.com, as well as DailyWorth.com.
Wealthramp is a personalized and unbiased financial advisor referral service, connecting investors with the fiduciary advisors who best match an individual’s investing priorities. The company launched the only network of independent, fee-only fiduciary financial advisors expertly vetted by television investor advocate Pam Krueger. Built on the foundation of consumer advocacy and transparency, Wealthramp screens out conflicts of interest and engages only with established fee-only fiduciary advisors who don’t sell products and work solely in the interests of clients. The Wealthramp network serves Americans nearing retirement as well as forward-thinking Gen X and Millennial consumers, and consists of independent fiduciaries specializing in holistic financial planning, income strategies, stock-based compensation, special needs planning, and more.