Vanguard Survey: Women Leave Financial Advisors When They Feel Their Best Interests Are Ignored

Men and women show similar levels of financial confidence, but women who leave their financial advisors most often say they felt their best interests were not being served. That is the finding of a new Vanguard survey released in September 2026.

The survey, highlighted in the Kitces financial planning newsletter, found that communication style is a key factor in whether clients stay with their advisors. Women said they prefer an educational approach, where advisors explain concepts and help them understand their options. Men were more likely to prefer data-driven presentations focused on numbers and performance.

Advisors who failed to adapt their communication style to individual clients were more likely to lose them, the survey found. Women in particular said they wanted to feel heard and understood, not just presented with a portfolio update.

The findings have practical implications for the financial planning industry, which has long struggled to retain female clients, particularly after major life events like divorce or the death of a spouse. Women control a growing share of household wealth in the United States, making them an increasingly important client segment.

Vanguard researchers said the results suggest that advisors need to invest more in understanding what their clients actually want from the relationship, not just what they need in terms of investment returns. Trust and alignment on values were cited as more important than performance alone.

The survey also found that women are more likely than men to involve family members in financial decisions and to prioritize long-term security over short-term gains. Advisors who understand those priorities are better positioned to build lasting relationships with female clients.