Women say their advisors respect them, but talk down to them

Columbus, OH – For women investors, the relationship with their financial advisor is largely a positive one. Most say they feel heard, valued and treated the same as their male counterparts. But new data from the Nationwide Retirement Institute shows that feeling respected and truly understood are not always the same thing.

Nearly all (95%) women investors with advisors agree their advisor treats them with the same respect as male investors, including over two-thirds (68%) who strongly agree. Even so, there is room for advisors to grow when it comes to how that respect shows up in everyday conversations. Three in 10 (29%) women investors with advisors say their advisor sometimes ‘mansplains’ concepts to them in a way they don’t always appreciate.

Women investors are not questioning whether their advisor cares. Rather, they are signaling where there is an opportunity to communicate better. About one in three (34%) women investors say they find their advisor condescending when explaining recommendations or responding to questions. About the same amount (32%) say their advisor assumes they know less about finances than they actually do.

“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. “Our survey makes it clear many women investors don’t want to be talked at, they want to engage in a discussion and have a conversation around their needs. Advisors should ask thoughtful questions to get to the root of their client's needs, do the research to be well-versed in the unique issues women are facing and listen to understand each client's unique goals and perspectives. 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.”

Women investors seek education amid uneasy macro outlook
The need for financial guidance feels as urgent as ever for women investors. Navigating a distinct set of financial pressures, many are looking ahead with a mix of determination and unease, and with a clear appetite for support.

That unease is grounded in real economic and retirement worries. A clear majority (77%) of women investors are concerned about a U.S. economic recession. Only four in 10 (39%) non-retired women investors say they are on track to retire about the same time as they previously planned, while more than one in 10 (14%) don’t know if they’ll ever be able to retire.

What women investors do know is what kind of help they are looking for. Their preferences point to a consistent theme: they want to be active participants in their financial planning, not passive recipients of advice:

• More than two in five (44%) women investors prefer to fully understand their options before making decisions.
• 34% of women investors prefer to work with a financial professional to guide their financial planning.
• 21% of women investors seek out educational resources to help them understand financial strategies.

“Women told us they want clarity and context. Advisors can put that into action by taking time to fully lay out options and inviting questions during conversations,” Ricklin said. “By encouraging open dialogue about what is important to them, you’ll ensure your women clients’ priorities are being heard and addressed.”

Women advisors are leading the way with tailored service

Women advisors are approaching women clients differently than their male peers. When taken together, nearly all (99%) women advisors indicate they have taken specific actions to better serve women clients, including:

• Nearly half (47%) of women advisors have developed strategies specifically for women going through major life transitions, compared to just 34% of men advisors.
• More than two in five (43%) women advisors have increased their focus on protection and guaranteed income solutions, compared to just 35% of men advisors.
• A similar share (44%) of women advisors have studied the unique retirement challenges women face (e.g., longevity, caregiving, wage gaps), compared to just 38% of men advisors.
• More than a third (36%) of women advisors have completed training or education on financial planning for women, compared to just 29% of men advisors.
• Two in five (40%) women advisors have sought feedback from women clients on how they can better serve them, compared to just 35% of men advisors.

Across each of these key measures, women advisors are more likely to have taken the specific steps that women investors say matter most. Male advisors looking to strengthen their relationships with women clients may benefit from incorporating the best practices of their women colleagues.

“Our survey found that many women advisors are structuring conversations around personalization and intentionality, taking the time to understand their client’s retirement goals and aspirations. That approach builds trust and makes financial planning feel empowering rather than transactional,” Ricklin said. “Male advisors can increase their success with women investors by evolving their approach throughout the client engagement process, incorporating additional questions and discussion opportunities for their women clients.”

While some advisors may overestimate their skill set, others lean into opportunities

Advisors feel confident they recognize the needs of their women clients. More than nine in 10 (91%) advisors rate themselves as skilled at meeting the specific needs and expectations of women clients, and a similar share (95%) say they have already taken specific actions to better meet those needs.

Despite near-universal confidence in their own abilities, fewer than four in 10 advisors (37%) say they actually understand their women clients' financial and retirement goals. Only 38% say they understand the impact of the unique financial challenges women face, such as longer lifespans, caregiving responsibilities and wage gaps.

In practice, just one in four advisors (25%) say they have received formal training on the unique financial challenges women face, pointing to a meaningful disconnect between self-assessed skill and professional development. This suggests that for many advisors, confidence has outpaced preparation.

Still, a significant number of advisors recognize the opportunity and are taking steps to close the gap. Four in 10 (40%) say they prioritize building a human connection and demonstrating genuine care with their women clients, and an equal share (40%) say they take time to educate their women clients on financial strategies and ensure they truly understand their options. Another 26% say they actively adjust their communication style to avoid being condescending.

“Women are controlling more wealth, yet many still feel underserved by the industry – exposing a critical opportunity for advisors,” Ricklin said. “By creating a more inclusive, collaborative experience that prioritizes listening, education and partnership, advisors can build trust with their women clients, encouraging them to stick around for the long-term, refer others and ultimately grow their practice. A great way for advisors to ensure they are hitting the mark is to ask for direct feedback from women clients about their communication preferences and what approaches they find most helpful in their decisioning.

Ricklin offers this advice to women investors trying to find a good financial advisor: “There is no substitute for a great referral. Ask your friends and family about the experience they have had working with their advisors. That may be the best indication that a particular advisor would be a good fit and can help with your specific needs.”

For more insights on this survey data, see our infographic.

Nationwide’s Retirement Institute^® survey, formerly known as the Nationwide Advisor Authority survey, explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today’s complex market.

Nationwide Retirement Institute Survey Methodology
The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 528 advisors and financial professionals and 2,012 investors ages 18+ with investable assets (IA) of $10K+, January 15-February 6, 2026. Among the investors, there were 882 women investors and 421 women investors working with a financial professional. Among the advisors, there were 119 women advisors.

Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data for advisors is accurate to within ± 4.3 percentage points using a 95% confidence level. For investors data is accurate to within ± 2.98 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.  For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].