Every week, we collect thought-provoking articles from around the web pertinent to women advisors.
According to The Pew Economic Mobility Project, 20% of women see gains of more than 25% in income after a divorce, compared to 16% of men. In the early-to-mid 1970s, only 11% of women gained more than 25% in their income. As for an income drop of more than 25%, that’s now what happens for equal numbers of women and men (about half). The gender income gap is narrowing, and now it’s more likely women clients going through a divorce will experience an increase in assets.
There’s a new asset management firm on the block, and it’s entirely staff by women. Diane Garnick, a former investment strategist at Invesco Ltd., opened Clear Alternatives LLC with two other women yesterday, reports Bloomberg Businessweek.
She plans to increase the staff to 12 and AUM to $500 million by the end of 2012. “One of the biggest challenges is for women to find an organization that’s willing to accept them back after they leave the work force to raise children without taking a cut in compensation and responsibility,” Garnick, who has two daughters and will be chief executive officer, told Bloomberg Businessweek. “Our objective is to solve that problem.” (Stay tuned for our article on returning to work after leave, which will be released in our quarterly women’s newsletter on Tuesday. Don’t get it? Sign up here.)
Brazil’s president, Dilma Rousseff, is Latin America’s first female head of state. And, she’s more popular than any other president after one year in office, reports Spiegel Online. What’s more, she’s appointed ten female cabinet ministers, and all but one of her inner circle of advisers are women. What’s behind this transformation? Matriarchal elements within society, a highly educated female population, and visionary leadership.
By the way…
The 2012 Canadian Women in Communications Leadership Excellence Awards have been announced, and among the recipients is yours truly. You’ll notice the hat tip to the women’s hub on Advisor.ca, so thanks to you, dear readers, for your support.