For some time, the wealth management industry has been urged to be more open to supporting careers for women, partly because women are increasingly holders of wealth and because of a talent shortage requiring firms to access a wider pool of professionals.

Choreo, a registered investment advisor, has launched an initiative to boost growth and opportunities for female advisors – also tapping into concerns about a talent crunch in the North American wealth sector. 

The new program is called Choreo Momentum. 

Marissa Fox-Foley, the firm's chief marketing officer, and Karen Lee, its chief growth officer, will serve as Choreo Momentum's co-executive sponsors.

“We are also deeply committed to building an engaging workplace that invests in our female advisors and helps female business owners and individuals with their wealth management needs,” Fox-Foley said. 

For some time, the wealth management industry has been urged to be more open to supporting careers for women, partly because women are increasingly holders of wealth and the talent shortage is requiring firms to access a wider pool of professionals. (This news service’s US correspondent, Charles Paikert, has recently written about the talent shortage in the sector.)

To support its program, Choreo launched a survey that found that respondents want programming that establishes community-building forums and regular networking opportunities with women across the entire organization.

Respondents were interested in enhanced and targeted sales and marketing training, growth strategies and career development best practices that focus on women professionals and clients.

As part of the new program, participants can attend strategic industry networking and educational events, as well as joint-CPA events with firms in the tax professional community.

Choreo serves more than 8,000 families with about $24.6 billion of assets under management or advisement (as of December 31, 2023).