News releases

March 08, 2023

Only 15% of financial advisors in Canada are women, while women's share of wealth assets expected to double by 2028

Sun Life Global Investments urges gender equity across the industry

  • Only 15-20% of financial advisors are women.
  • By 2028, Canadian women will control $4 trillion in assets, almost doubling the $2.2 trillion they control today.
  • Women investors are 2.5 times more comfortable taking investment risks with women advisors.
  • 80% of widows switch financial advisors within a year of their husband's death.
  • Women's financial needs are underserved, setting the global wealth management industry back $25 billion each year.

SLGI Asset Management Inc. logo (CNW Group/SLGI Asset Management Inc.)

TORONTO, ON, March 8, 2023 /CNW/ - By 2028, Canadian women will control over $4 trillion in assets, almost doubling the $2.2 trillion they control today, according to market data examined in a recent Sun Life Global Investments report*. And while women indicate that they are more comfortable taking investment advice from women advisors, they make up only 15-20% of financial advisors in Canada. Though progress toward gender equity is being made across the industry, there is more that needs to be done. Sun Life Global Investments sees an opportunity to build a stronger, more equitable industry benefitting all Canadians.   

"I am proud to lead a strong and diverse team at Sun Life Global Investments, but as an industry, we need to take action to achieve gender equity," said Oricia Smith, President, SLGI Asset Management Inc. and Senior Vice-President, Investment Solutions, Sun Life Canada. "Women can play a very powerful role in our industry, but we need more female financial advisors with specialized training to understand the unique needs of female investors."

Women's financial needs have traditionally been underserved, setting the global wealth management industry back $25 billion per year. What's missing? More female advisors and asset managers. Through relationship building, women advisors are better positioned to provide holistic financial advice that is tailored to the female experience. Sun Life Global Investments' report found that female advisors better understand the needs of female investors, with women being 2.5 times more comfortable taking investment risks than if her advisor is a man.

Taking action to create a diverse and equitable industry

Sun Life Global Investments' goal is to empower, educate, and inspire women and men in the industry to spark change and embrace equity. They are dedicated to helping a diverse spectrum of Clients build wealth and manage risk through monitoring and measuring their sub-advisors' commitment to diversity, equity, and inclusion, offering free online resources for women in the investment industry and sponsoring and participating in women and wealth-focused events.  

"If I can influence the next generation of women, then I can say to myself I have done a good job," said Smith. "We have to reflect the communities we serve and advisors can play an extraordinary part in creating gender equity."

Read more about Sun Life Global Investments' commitment to sustainability, diversity, equity and inclusion.

About SLGI Asset Management Inc.

SLGI Asset Management Inc. is a subsidiary of Sun Life Financial Inc. It offers Canadians a diverse lineup of mutual funds and innovative portfolio solutions, empowering them to pursue their financial goals at every life stage. We bring together the strength of one of Canada's most trusted names in financial services, Sun Life, with some of the best asset managers from around the world to deliver a truly global investment platform. As of December 31, 2022, SLGI Asset Management Inc. manages $33.98 billion on behalf of institutional and retail investors from coast-to-coast and is a member of the Sun Life group of companies. For more information visit

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2022, Sun Life had total assets under management of $1.33 trillion. For more information, please visit

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

*All citations can be found in Sun Life Global Investments' "Where Are the Women Advisors".

Note to editors: All figures in Canadian dollars.

Media Relations Contact: 
Laura Torchia
Manager, Corporate Communications
T. 416-818-5613 

SOURCE SLGI Asset Management Inc.