How advisors tackle the gender question in wealth management

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Wealth management experts in the midst of prepping for the impending great wealth transfer are finding a growing number of women taking the financial reins. But according to new data from Financial Planning, not all portfolios are created equal — and neither are advisors.

More than 190 registered investment advisors and other wealth management professionals weighed in on this month's Financial Advisor Confidence Outlook, offering predictions for what the next three months could hold for the economy, monetary policy, asset allocation advice and more.

The minus-16 score aggregated from the results was driven in large part by downcast views on the overall economy (minus-8), client risk tolerance (minus-37) and asset allocation (minus-20). Both risk tolerance and asset allocation hit record lows.

"Way too much up in the air with [President Donald Trump's] tax cuts, tariffs [and] government job cuts," remarked one advisor. "There is a lot of uncertainty."

READ MORE: Uncertainty drives sharp decline in advisor confidence

When asked about the breakdown of their client base by men, women, partnered couples and other classifications, here is what advisors had to say.

More than a quarter of respondents said they differentiate their approaches to wealth based on whether the client is a man or a woman. The responses below paint a pretty stark contrast.

READ MORE: Planner's new book schools industry on 'Women and Wealth'

Some female wealth management talent are taking it a step further, starting firms that focus solely on helping women plan for the future.

Since starting her woman-focused company last year, Anna N'Jie-Konte, founder of the Baltimore-based RIA firm Poder Wealth Advisors, has set out to roughly double her 32-household client base through tailored services such as impact investing and divorce planning.

"Most women, I would say Gen-X down, have recognized that there's a lot of power and necessity in managing their money and having a really solid handle on their finances and increasing their financial sophistication," N'Jie-Konte said. "I think there's so much strength and so much power in someone taking charge and taking proactive measures in thinking about where they want their wealth to go and being intentional about it."

Client recruitment and retention will continue to be a growing priority in the coming years for advisors seeking to weather market turmoil.