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FinServe Ambassadors Talk Future of Financial Advice
Addressing and Unearthing Complexities in the Wealth Journey
Jared Trexler, senior vice president and chief marketing and strategy officer, joined FinServe Network ambassadors Fatima Williams, FSCP®, Dave Valdez, ChFC®, CLU®, AAMS®, CWS®, AIF®, Mónica Clesse, MBA, FPA, and Heather Welsh, CFP®, AEP®, MSFS, for a conversation on financial advice. After introducing the ambassadors, Trexler began the conversation by inquiring about how advisors can address the complexities of individual wealth stories.
When asked, the ambassadors agreed that clients have unique and complex needs, which require specialized knowledge and flexibility to be expertly addressed.
“We help create the plan. So when you have individuals looking for particular goals for themselves, it requires us to be more flexible and knowledgeable on their options,” Williams said. “They’re coming to us with an end goal and the path might look different for everyone, and that’s what we do — we create plans.”
“They’re coming to us with an end goal and the path might look different for everyone, and that’s what we do — we create plans.”
- Fatima Williams, FSCP®
Valdez chimed in with his thoughts on the importance of flexibility in financial advising.
“As the industry has evolved, clients have asked not just to be told what to do. There’s a new clientele of young investors that want to partner, “ he said. “So as an advisor, you have to be able to dance between those lines of being the thought leader in the conversation and being able to influence your client to a better and brighter future, but also having them feel like they’re a part of the decision-making process.”
“To educate and to be willing to be educated,” Williams agreed.
The Value of Comprehensive Financial Advice
Trexler continued by asking the panelists what comprehensive financial advice means to them. The ambassadors concluded that to give solid advice, advisors need to be confident not only in their own specialized knowledge and skills, but also in the skills of others. Whether it be bringing in external CPAs and attorneys or pairing advisors together, the panelists acknowledged the importance of teamwork.
“When I think about ‘comprehensive,’ it doesn’t necessarily mean, ‘Let’s go from A to Z all in one shot.’ Really, it comes down to specialization,” said Welsh. “If you’re just going an inch deep and a mile wide, that’s not necessarily comprehensive. The power of advisors and planners is being able to really say, ‘I work with clients like you. I understand the needs and the complexities…of your situation.’”
“I think that the client also is looking to see a network behind the face,” Clesse said. “So ‘comprehensive’ also involves trust, and them knowing that we have a team with specializations that will help them.”
Williams backed Clesse’s assessment. “It’s important to know what you know really, really well, and also when you don’t know it, and when to bring someone else in who is also great at their job,” she said.
“The power of advisors and planners is being able to really say, ‘I work with clients like you. I understand the needs and the complexities…of your situation.’”
- Heather Welsh, CFP®, AEP®, MSFS
The Evolution and Future of Financial Advice
Next, Trexler asked the ambassadors about the shift in financial advice from seeing products as solutions to seeing them as tools. The panelists were in agreement that the good of the client should come before the satisfaction of selling a product.
“I mean, what is the good of a hammer if you really need a wrench? How do I make an assumption and not be prepared to listen?” asked Williams. “Knowing what you’re offering, knowing what you’re selling, in theory, so that you can be able to pivot and offer an alternative because the other options offer more benefits and solutions for them. It’s really about what benefits the client’s future goals.”
Valdez supported Williams’ statement. “I like to think of the client and the financial plan as like the hub of a wheel, and then the products and services around it are the spokes,” he said. “Once you have that, then you have the actual wheel, and that could take you to the better and brighter destination for your client.”
Bringing the conversation to a close, Trexler asked the panelists how the industry can leverage all the points made in their discussion to drive growth in their firms.
“I never want to lose sight of that this is a relationship business,” Valdez said. “We could talk about products and services and credentials, but at the end of the day, this is all about making connections with a prospect or client and helping them and guiding them through a difficult time or a positive time, whatever it may be. But it’s all about the human connection and the relationship over time.”
Watch the Full Video Discussion
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Diversity, Equity & Inclusion Practice Management Insights
The Rising Financial Power of Women
A new report from the CFP Board, Building Wealth: Insights on Women’s Aspirations & Growing Financial Power, sheds light on these evolving dynamics. Women now make up a significant portion of the workforce, with a labor force participation rate of 57.3% in 2024, compared to just 43% in 1969. Additionally, women are more likely than men to attain a college degree, a key predictor of lifetime earnings. These factors, combined with an unprecedented generational wealth transfer, are propelling women into positions of greater financial influence. According to Bank of America, an estimated $30 trillion in wealth will shift to women by 2045.
This growing financial power is evident in the home. The CFP Board report found that four in five partnered and employed women are either the primary income earners or contribute equally to their household’s finances. More than two-thirds serve as the primary decision-makers for investments. However, while confidence in everyday financial management is high, many women still feel uncertain about investing, building wealth, and long-term planning.
The Need for More Women in Financial Planning
Despite this financial shift, the advisory profession has yet to fully adapt. Women want advisors who understand their unique financial journeys — whether that means navigating career transitions, planning for caregiving responsibilities, or building generational wealth. Yet, as of January 2025, women make up only 23.8% of CFP® professionals and the statistics breakdown is similar for designations housed across the industry and even at The College.
This gap isn’t just a pipeline issue; it’s a cultural one. Women in the industry often face systemic barriers to advancement, from gender biases in hiring and promotions to a lack of mentorship and sponsorship. In a recent InvestmentNews article, increasing the number of women with professional designations, such as the CFP®, is one of the most effective ways to drive change. Designations not only provide credibility but also serve as a gateway to leadership roles in the industry. More importantly, when women advisors are present, female clients are more likely to feel understood, respected, and empowered in financial conversations.
What Women Want From Their Advisors
The CFP Board report makes one thing clear: Women have distinct expectations when it comes to financial planning. They want advisors who:
- Craft solutions tailored to their specific challenges
- Communicate complex financial concepts clearly
- Have a proven track record of success
- Hold certifications and designations
- Demonstrate empathy and active listening
Perhaps most notably, while women don’t necessarily insist on having a female advisor, many prefer professionals who share similar life experiences and values. This underscores the need for financial firms to prioritize diversity — not just in gender but in backgrounds and perspectives.
The Opportunity for Financial Advisors
For advisors willing to adapt, the opportunity is immense. Women are seeking guidance on wealth-building strategies, tax planning, estate planning, and long-term care. They are also more likely than men to prioritize caregiving expenses, philanthropy, and healthcare costs — areas that require thoughtful, holistic financial planning.
To better serve women, advisors should consider the following approaches:
- Adopt a more holistic planning model: Women tend to approach financial decisions with a long-term, big-picture perspective. Offering comprehensive planning that integrates retirement, caregiving, and legacy-building can be a game-changer.
- Improve financial literacy resources: While women are financially confident in many areas, they still seek education on investments and wealth management. Hosting workshops, webinars, and one-on-one coaching sessions can make a significant impact.
- Foster more inclusive client experiences: Women value clear communication and a judgment-free environment. Creating spaces where female clients feel comfortable asking questions and exploring their options without pressure can help deepen relationships and trust.
A Call to Action
Women’s financial influence is only growing. The question for the financial industry is whether it will evolve quickly enough to meet their needs. For firms and advisors, this means making intentional efforts to recruit and retain women in the profession, tailoring financial planning strategies to female clients, and, most importantly, recognizing that this isn’t just about business — it’s about equity.
Women are ready to take charge of their financial futures. The industry must be ready to meet them where they are.
More From The College:
- Visit the Center for Women in Financial Services
- Learn more about our Designation Outcomes
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Ethics In Financial Services Insights
Azish Filabi Shares Insights AI and Ethics
In the InsuranceNewsNet Magazine article, "AI and Ethics: What Advisors Must Know,” Filabi's commentary underscores the need for advisors to rigorously safeguard client confidentiality and ensure the accuracy of AI-generated outputs through robust oversight measures, such as audits, testing, and certification.
“I think it is important not to put any client information into a technology tool unless you’re absolutely certain what’s going to happen with that information, where the data is going, and that the data is protected.”
- Azish Filabi
Filabi’s insights serve as a timely call to action for industry professionals navigating the rapidly evolving intersection of technology and ethics.
More from The College
- Read the full article here to explore how these guiding principles can help shape the future of ethical AI leadership.
- Stay informed about our latest AI research and initiatives—follow us on LinkedIn for updates and insights.
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Financial Planning Practice Management Insights
Improving Outcomes With Foundational Designations
The CFP® certification has become the most adopted credential in financial services, with over 100,000 CFP® professionals in the United States and a record-breaking CFP® exam turnout of 10,000 individuals in 2024. The College’s CFP® Certification Education Program meets the ever-growing need for CFP® education by enabling students to earn their mark through flexible, on-demand learning instructed by industry experts. The program’s Net Promoter Score of 85, awarded by CFP® professionals, indicates a world-class level of satisfaction.
The College’s program provides financial professionals with the knowledge and skills to pass their exam the first time and begin meeting their clients’ complex needs; however, earning the CFP® mark is just one avenue for professionals looking to build a strong foundation for their careers. Designations like the Financial Services Certified Professional® (FSCP®), Wealth Management Certified Professional® (WMCP®), and Chartered Financial Consultant® (ChFC®) can also further an individual's knowledge and strengthen their ability to serve their clients.
Manage Your Practice Like a Pro
The FSCP® Program is designed to provide new professionals with the financial planning knowledge they need to kick-start their careers. The curriculum is infused with powerful strategies to accelerate growth, including courses focused on running a functional and successful practice, understanding business ethics, and identifying and meeting client needs. Powered by insights from top thought leaders in financial services and backed by The College’s proven history of excellence in education, the FSCP® enables new professionals or career-changers to launch their careers in financial services.
The 2024 Designation Outcomes Study showcases the benefits College designations offer to financial professionals, and the results are telling. According to the study’s findings, FSCP® designees saw:
- 129% higher growth in client retention
- 44% higher growth in number of clients
- 17% higher growth in earnings
- 19% higher growth in production when compared to professionals with no designations1
These numbers illustrate significant impact in key growth areas, indicating the expertise gained in business planning, product knowledge, and maintaining client relationships — an invaluable achievement for those early in their financial services career. The foundational knowledge found in the FSCP® curriculum can enhance a financial professional’s toolkit and power the organic growth of their practice.
Go Beyond Building Portfolios
The College’s WMCP® Program is tailored to professionals seeking foundational skills in wealth management. The program provides financial professionals with the practical, hands-on skills to build broadly diversified, tax-efficient portfolios that align with clients’ unique goals. With its focus on behavioral finance and informative courses on goal-based planning, efficient investment portfolios, and strategic wealth management, the WMCP® empowers professionals to become more valuable partners to clients.
With the valuable knowledge offered by the WMCP®, professionals can meet this in-demand need head-on.
According to Designation Outcomes Study findings, WMCP® designees reported:
- 144% higher growth in client retention
- 32% higher growth in earnings
- 28% higher growth in number of clients when compared to professionals with no designations1
Additionally, of WMCP® designation holders, 74% reported improved client conversations, and 68% reported an improved ability to help clients with a greater number of goals.1 With the WMCP® under their belt, designees can expertly navigate complex client issues, and clients can trust them to build efficient portfolios, create wealth management strategies, and craft solutions to potential issues.
Gain Practical Knowledge and Prestige
For financial professionals who have not yet earned a bachelor’s degree, the ChFC® Program serves as a worthwhile alternative to the CFP® Certification Education Program, which does require a degree. The program offers foundational knowledge that can be applied on day one through a flexible, on-demand learning path.
The ChFC® curriculum covers the essential areas of financial planning including insurance, taxation, retirement, and estate planning, but it also tackles more in-depth subjects such as behavioral finance, non-traditional family structures, and small business planning and features elaborate case studies to apply their knowledge. ChFC® students can gain the expertise and hands-on skills needed to start delivering efficient financial planning services no matter where they are in their career journey.
Based on real-life situations, the practical ChFC® curriculum prepares financial professionals to handle complex and unique client issues with ease. Of ChFC® designees:
- 72% reported improvement in client conversations
- 74% reported an improved ability to help clients with a greater number of goals
- 67% reported improvement in client satisfaction1
Additionally, designees saw a 75% higher growth in client retention, 49% higher growth in number of clients, and 32% higher growth in earnings when compared to professionals with no designations.
The ChFC® is also ideal for those looking to work toward two prestigious professional achievements at once, as completion of the eight-course program qualifies designees to sit for the CFP® exam as well. Students can save time and money on their education, all while building their base of knowledge.
More From The College
- Browse Our Designations
- See the Full Designation Outcomes Study Results
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Financial Planning Practice Management Insights
ChFC Paving a Path to Success
Imagine a hypothetical scenario. A young person begins their professional career in one industry, however, after a few short years in the field, this person decides to shift roles. This person instead finds a role in financial services.
After finding some success in this new role, the individual decides this is a career worth pursuing and wants to support their goal by obtaining a professional designation. Unfortunately, there’s one problem — this person does not have a college degree. This puts this individual into a surprisingly large group. Though a bachelor’s degree may not seem like an exceedingly high mark to obtain, according to the U.S. Census Bureau, 62.3% of Americans (or roughly five out of every eight Americans) do not have one.1
Though not having a college degree does not restrict an individual from having a successful career, it does mean they cannot obtain what many view as the gold standard for a financial services mark, the Certified Financial Planner® (CFP®). However, there are still options available to them, namely the Chartered Financial Consultant® (ChFC®).
What is the ChFC®?
The ChFC®, similar to the CFP®, demonstrates a familiarity with several core competencies involved in the field of financial services. Those who complete the ChFC® program become versed in the essentials of financial planning, including:
- Investments and insurance
- Taxation
- Retirement and estate planning
- Special needs planning
- Small business planning
In many ways, the ChFC® fills the same function to the CFP®, differing in a few key areas such as the focus on behavioral finance. However, the fundamental differences between the two are the prerequisites. The ChFC® only requires a high school diploma to obtain, whereas a CFP® requires a college degree. This key difference makes the ChFC® the preferable option for financial services professionals who may have taken unconventional career paths to arrive where they are today.
How Can the ChFC® Help an Advisor Get Ahead?
The main purpose for designations like the CFP® and ChFC® is the credibility, competency, and strong knowledge bases they offer to financial professionals that may be starting out their careers in the financial services industry. These designations serve as indicators of knowledge and trustworthiness and can be the difference in securing clients for some advisors.
FUSE Research Network found data supporting this trend in the 2024 Designation Outcomes Study. The study highlights how designations can help advisors to grow and thrive in their chosen field.
When looking at the data included in the 2024 Designation Outcomes Study, one can find that the ChFC® provides a significant career boost to the advisors who obtain it. According to the study, based on self-reported growth over the past three years compared to financial professionals with no designations, ChFC® designees demonstrate:
- 30% higher growth in production
- 32% higher growth in earnings
- 49% higher growth in number of clients
- 75% higher growth in client retention2
These numbers indicate positive trends for those who want to obtain a ChFC®. The growth in key statistics suggest that holders of the ChFC® designation can achieve significant levels of career success, even without the need for a college degree.
Trends De-Emphasizing College
Another trend emerging in the financial services industry is skill-based hiring. Skill-based hiring de-emphasizes the formal credentials such as academic degrees and experience, and instead evaluates individuals based off of assessments that measure abilities that are crucial to the role.
Skill-based hiring is particularly popular in financial services, as 87% of finance employers have adopted some form of skill-based hiring in their recruitment process.3
This level of implementation across the industry suggests that financial services as a whole may be willing to do away with the common notion that individuals seeking a professional career need to start with a college degree and could instead be shifting their focus towards fluency in core competencies.
Due to this shift and the flexibility it offers, the ChFC® may be more desirable than any point in its history, as it aligns with where the industry is headed as it looks to focus on capabilities rather than credentials. The ChFC® also offers financial professionals a clear path forward when approaching a second, more specialized designation. The RICP® program requires only two additional classes for ChFC® designees, allowing financial professionals to earn a specialized education that helps them grow in their chosen field of expertise. For many, the shift from credential-based hiring to skills-based hiring will be a welcome one.
More From The College
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Diversity, Equity & Inclusion Practice Management Podcasts
Empowering Clients Through Financial Planning
In this episode of the Shares podcast, Wealth Management Certified Professional® (WMCP®) Program Director Michael Finke, PhD, CFP® joins Jean Chatzky for a conversation on how financial professionals can specifically tailor their client approach to suit women at any stage of life, including planning with their spouse, as single individuals, or in divorced or widowed situations. In addition, they examine how making financial planning more personable and making client goals central to the planning process can create better outcomes for both advisors and clients while building more trusting planning relationships.
Jean Chatzky is the founder and CEO of HerMoney, as well as the coaching programs FinanceFixx and InvestingFixx. She’s the host of the podcast "HerMoney With Jean Chatzky" and appears on the PBS TV show Opportunity Knock$. She is a columnist for AARP and an education fellow for The Alliance for Lifetime Income. She was also the financial editor on NBC's Today Show for 25 years. Chatzky is an award-winning journalist and broadcaster, a New York Times and Wall Street Journal best-selling author, and a fierce advocate for financial literacy. Her latest books include Money Rules, Women with Money, and How To Money. Find her at HerMoney.com or @JeanChatzky everywhere.
Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.
More From The College
- Visit our Center for Women in Financial Services
- Get more from Jean Chatzky through Knowledge Hub+
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