When John Diehl asked his wife if she’d rather work with a male or female financial advisor, she replied, “The one who’d do the best job.”
A simple enough answer, and yet the question of if investors should work with male or female advisors is one Diehl, who is the senior vice president of Strategic Markets for Hartford Funds in Wayne, Pennsylvania, has come back to repeatedly in his 30 years in the financial services industry.
The real intricacies are in what constitutes “the best job,” Diehl says. We expect any financial advisor we work with to manage our money with competence and care, “but beyond that are other factors which contribute to our overall satisfaction, and they largely relate to the client experience,” he says. And the client experience is largely dictated by if we’re dealing with a man or woman advisor.