Black men and women accounted for 6.1% and 6.6% of the US population in July 2023, compared with 3.5% and 5.5% of the asset-management industry, respectively, based on our survey.

Beth Azor and Jenny Zhan shared practical paths for women entering the market.

Younger women frequently know what they are doing with their money and the report found the share of US women under 50 who express financial confidence jumped from 48% in 2018 to 61% in 2023.