Women represent just one in five fund managers worldwide, and that number has changed little since the financial crisis of 2008, according to a new report by Morningstar. The rate of women-managed funds is even lower in the U.S., where just 10 percent of the fund managers are women, writes Madison Sargis and Laura Pavlenko Lutton on Morningstar.com. And the fund industry is doing worse than other male-dominated industries; in the U.S., 36 percent of lawyers are women; 33 percent of doctors are female; and 16 percent of CFAs are women. Globally, there were some bright spots; Hong Kong, Singapore, France, Spain and Israel have a higher portion of female fund managers than the global average. Pre-Retirees Care More About Legacy Than Wealth Pre-retirees are more concerned with legacy building than wealth accumulation, according to a white paper published by Chubb. Unlike older generations, Americans aged 51 to 69 value improving their reputation in the community and preserving family wealth for distant descendants over property and personal wealth accumulation. And this has implications for how pre-retirees should approach risk management, says Alanna Johnson, senior vice president, premier practice leader, Chubb Personal Risk Services. "Wealth advisors and insurance agents can best serve this generation by understanding the client's changing risk profile and designing a holistic risk management program that fits their lifestyle." The white paper goes on to highlight specific legacy-building risks facing pre-retirees and their advisors, including serving on nonprofit boards lacking D&O liability coverage, property risks derived from relocation and protection gaps in trust formulation. Raymond James Adds LPL and Merrill Advisors Raymond James has picked up teams from Merrill Lynch and LPL Financial in the last week. George D. Ewins Jr., Richard J. Kowalksi and Theresa Swett, former Merrill FAs, manage more than $441 million in client assets and will operate out of Raymond James' Burlington, Va., office. Jason Croix, Michael MacRory and Jeffrey Shoop, each from a different LPL office, manage a combined $466 million in assets and will join Raymond James in three different locations. READ MORE OF THE DAILY BRIEF |