Modera Wealth: Banking on Female Leadership – Charlotte Magazine

By Jenny I. Martella, MBA, CFP®
Wealth Manager, Principal, Modera Wealth Management, LLC

I got into the financial planning industry as a second career and fairly unintentionally. Sixteen years ago, at the height of the 2008 recession, I watched countless friends and family members stress about finances and make poor investment decisions based on advice from people who didn’t have their best interests in mind. Many of these friends and family members were women. I knew there had to be a better way, and I was determined to be part of the solution.

At that time, women were even less likely to be investing their assets or managing household finances than they are today. I hoped to inspire those around me and those who might follow in my footsteps. So, I pursued and earned my CERTIFIED FINANCIAL PLANNER™ certification and began my new career at a firm here in Charlotte whose service model met my high standards with its fee-only fiduciary approach. Modera Wealth Management’s fee-only fiduciary approach (no product sales) has enabled me to sit on the same side of the table as my clients, putting their interests first. And as one of 18 women in Modera’s Charlotte office, I believe that I have an equal seat at the leadership table as well in my role as Wealth Manager and Principal. In fact, almost half of the CERTIFIED FINANCIAL PLANNER™ professionals in Modera’s Charlotte office are women. This is particularly impressive because, according to the CFP Board, less than 24% of all CFP® professionals across the country are women. Unfortunately, this figure has been flat for the past decade or more.

I am glad the number of female advisors at Modera is growing. And we are now seeing more and more women investing. According to a Fidelity Women & Investing Study, the percentage of women who invested outside of retirement grew from 44% in 2018 to 67% in 2021. The number of IRAs opened annually by women grew by 60% and contributions grew by 91% in 2022 compared to 2019. A more recent 2023 study found that 68% of women are saving for retirement vs. 66% in 2019. And while historically it has been more men than women involved in investing, that gap is closing. The CFA Institute predicts that by 2025, there will not be a meaningful gender gap in stock market participation in the United States.

Modera is majority employee owned and I’m one of 19 female owners. We have three women on our board of directors, and five of the nine members of our executive leadership team are women. I’m proud to work for an organization that, in a traditionally male-dominated industry, puts its money where its mouth is regarding gender equity.

It’s critically important that we empower the next generation of women to not only pursue careers in finance, but also to confidently pull up a seat at the table to manage their own assets. Because, interestingly enough, when women do invest, they often perform better than men. After analyzing more than 5 million customers over a 10-year period, Fidelity found women investors outperformed their male counterparts by 40 basis points, or 0.4%, on average.

Fact-based proof that putting your money on (and with) women is a smart investment.

I invite you to join us today – learn more: moderawealth.com/specialties/women

Modera Wealth Management
6101 Carnegie Blvd Suite 220
Charlotte, NC 28209
704-358-3322

6700 Fairview Rd., Suite 360
Charlotte, NC 28210
704-334-0894

Modera Wealth Management, LLC (“Modera”) is an SEC registered investment adviser. SEC registration does not imply any level of skill or training. Modera may only transact business in those states in which it is notice filed or qualifies for an exemption or exclusion from notice filing requirements. For information pertaining to Modera’s registration status, its fees and services please contact Modera or refer to the Investment Adviser Public Disclosure Web site (www.adviserinfo.sec.gov) for a copy of our Disclosure Brochure which appears as Part 2A of Form ADV. Please read the Disclosure Brochure carefully before you invest or send money. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the U.S.