For women in wealth management, the independent RIA model offers a path to career growth, ownership and flexibility. Independent firms allow advisors to shape their professional trajectories, build client relationships on their own terms, and pursue leadership roles based on performance. As the wealth management industry evolves, independent RIAs are proving to be an attractive option for professionals seeking long-term success.
The independent space continues to expand, drawing more advisors who value autonomy and entrepreneurial opportunity. Women, in particular, are increasingly finding that independent RIAs provide an environment where talent, hard work and client relationships are the primary drivers of success.
A Growing Presence In Independent RIAs
Across all industry sectors, women occupied 29% of top executive positions in 2024, according to McKinsey. More specific to wealth management, women make up 23.6% of Certified Financial Planners, according to the CFP Board. While the industry is making progress toward gender diversity, independent RIAs are leading the way in fostering inclusivity.
For example, at Dynasty, women comprise more than 40% of advisors in our network —nearly double the industry average. This demonstrates that when firms prioritize opportunity, leadership and flexibility, more women choose to build their careers there.
When firms prioritize opportunity, leadership and flexibility, more women choose to build their careers there.
Independent RIAs provide strong career growth opportunities, allowing advisors to take on leadership roles, earn equity stakes and develop specialized expertise. Their independence also gives advisors the flexibility to build long-term client relationships and scale their businesses, making this model especially appealing to those who want greater control over their careers.
Many professionals who transition to independent RIAs find they have more control over their day-to-day work and long-term career strategy. This flexibility is especially valuable for women, who often balance professional growth with caregiving responsibilities. Whether it’s the ability to focus on a specific client segment, develop a unique service model or take on leadership roles, the independent space allows advisors to shape their careers while managing personal commitments. This level of autonomy appeals to those seeking greater influence over their professional and personal lives.
Collaboration, Mentorship And Leadership Opportunities
Independent RIAs offer more than just career growth. These firms foster strong professional networks where advisors collaborate, share expertise and mentor one another. Many professionals in the independent space cite mentorship as a key factor in their success. Working alongside experienced colleagues provides valuable insights, helping advisors refine their approach and develop best practices for serving clients effectively.
A strong support network can also accelerate career growth. Firms that prioritize collaboration and diverse leadership structures often see greater innovation and long-term business success. A 2020 McKinsey report found that companies in the top quartile for gender diversity in leadership were 25% more likely to report above-average profitability. While correlation doesn’t imply causation, the findings suggest that fostering inclusive leadership can contribute to stronger business performance.
For women in independent RIAs, working alongside more female colleagues can create valuable opportunities for peer support and shared experiences. This sense of community provides encouragement, business insights and professional connections that help advisors advance their careers. As more women step into leadership roles, they help shape a more inclusive industry and create pathways for future generations of female advisors.
Flexibility, Financial Benefits And Career Satisfaction
Flexibility is a key consideration for many professionals when choosing a career. A 2023 FlexJobs report found that 87% of women prioritize workplace flexibility — expressed in terms of remote-work options — even higher than salary (76%) when evaluating job opportunities. Independent RIAs often provide this advantage, allowing advisors to set their schedules through hybrid work arrangements or customized client engagement strategies. This autonomy enables advisors to build careers that align with both their professional goals and personal responsibilities.
The independent model also has financial benefits. Most advisors see a significant jump in earnings after going independent. Schwab’s survey found that newly independent advisors typically manage $278 million in client assets and expect to grow that to $396 million within five years for a 42% hike in billable assets.
Career satisfaction is another advantage of independence.
Career satisfaction is another advantage of independence. A 2023 Kitces report found that 17% of RIA advisors consider themselves to be “thriving,” compared to just 10% of advisors in other channels. Kitces attributes this to “fewer hours worked, a larger share of owners, and more confidence regarding effectiveness on the job” among RIA-based advisors.
By choosing independence, women advisors can take charge of their careers and build sustainable success on their own terms.
Sally Cates is Managing Director, PR and Communications at Dynasty Financial Partners.
