older brunette business woman at computer using cellphone (Photo: Shutterstock)

American women are expected to control a substantial portion of the $30 trillion in financial assets that baby boomers are expected to possess by 2030. However, there might be some key differences in the concerns that men and women possess about money that could have dire repercussions for inattentive financial advisors.

A new report published by McKinsey & Company, "Women as the Next Wave of Growth in US Wealth Management," discusses a survey of more than 10,000 affluent investors, nearly 3,000 of whom were female  — and it indicates that compared to 5-years ago, 30% more married women are making financial and investment decisions and that "more women than ever" are the family breadwinner. Another figure shows that 44% of companies have three or more women in their C-suite, an increase of 29% from 2015.

Still, the increase in female involvement with financial decisions hasn't necessarily coincided with changes in the way that financial institutions approach servicing their clientele. "No one has really moved the needle on really finding a way to serve the female segment of consumers and clients," said Jill Zucker, one of the authors of the report.

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Frank Ready

Frank Ready is a reporter on the tech desk at ALM Media. He can be reached at [email protected].