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Women Control Over 50% of Household Wealth, Says Schwab's Liz Ann Sonders

Charles Schwab's Chief Strategist Liz Ann Sonders talked to us about how to financial advisory world needs to wake up to the fact that more 50% of household assets are controlled by women. Plus she did a full podcast with #AlphaRising and we tackled everything from the state of the markets to bitcoin.
By TRACY BYRNES Feb 18, 2018 | 05:10 PM EST
Stocks quotes in this article: GS, UBS, SCHW

Listen to the full #AlphaRising podcast here.

Back in 2002, when Liz Ann Sonders first started out in the financial services, she was asked to appear on Wall $treet Week with Louis Rukeyser. And Rukeyser gave her some advice for her first TV appearance. He suggested that when she said something, she make sure that her parents, who were not in the financial services business, could understand it.

And that advice has stayed with her. Not only did she continue to be a regular on the show, along with other Wall Street legends, like Abby Joseph Cohen of Goldman Sachs (GS) and Mary Farrell, who led equity research at UBS (UBS) , but her down-to earth approach has led her to become one of the powerful female voices in the industry today.

"I'm so turned off listening to somebody who's number one goal is to sound like the smartest person in the room," she says after 31 years in the business.

Us too.

"We have an obligation to teach."

And that she is what she does. Every day. As the Senior Vice President, Chief Investment Strategist at Charles Scwhab (SCHW) , a predominate part of her role is to educate.

And encouraging more women to invest is on the top of her list these days.

She also knows that this is an advisory problem. With over 50% of household wealth being controlled by women, she is keenly aware that the industry must catch up.

"We need more female advisors...because many women like to work with other women."

So watch the video above and hear her thoughts on how to change that. And then listen to our full conversation where we talk about everything from getting more women to invest, to the benefits of roboadvisors, to what she really thinks of bitcoin.

Check out the #AlphaRising Youtube channel and for more #AlphaRising click here.

And for more from Tracy Byrnes and Alpha Rising, watch:

  • Schwab's Liz Ann Sonders: How to Beat the Market (Video and Podcast)
  • Facebook COO Calls Mogul the Number One Millennial Platform (Video and Podcast)
  • JPM's Head of North America M&A Wants to Super-Charge M&A and Hire More Women
  • Meet Ford's 23-Year-Old Prodigy Who Holds 15 Patents
  • Carly Fiorina: We Have a Shortage of Leaders
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TAGS: How-to | Investing | Video | Opinion | Stocks | Financial Services | Economy | Financial Planning | Personal Finance | Analyst Actions | Executive Interview | Growth Investing | Money Basics | Financial Advisors | Alpha Rising

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