Yesterday, Sallie Krawcheck had a few things to say about the wealth management industry. Krawcheck has had an extensive work history in finance and previously had been voted one of “The World’s 100 Most Powerful Women” by Forbes in 2005. She recently was ousted from Bank of America in September as the company claimed it was part of a “restructuring”. According to “Wall Street needs women, younger clients to compete: Krawcheck” by Suzanne Barlyn and Ashley Lau, Krawcheck placed her comments on the subject of women and young people:
“The securities industry ‘doesn’t do a great job for women or being appropriate’ for the next generation, said Sallie Krawcheck”
On young people:
“Indeed, becoming more relevant to a younger generation of prospective clients and building more diverse teams of advisers are among the changes Wall Street will have to make to compete in the future”
“Younger prospective clients have become skeptical of the industry through press images of advisers being untrustworthy and repeated messages to avoid the markets”
