It’s estimated that women control about one-third, or $10-plus trillion, of household wealth in this country. But by 2030 they’re expected to have $30 trillion, or two-thirds, of those U.S. assets.
This is due in part to “the Great Wealth Transfer” from baby boomers, as women, who tend to live on average six years longer than men, inherit money from their deceased husbands, becoming increasing investors.
This financial scenario may also reflect educational and professional trends that find women ascendent. They dominate enrollment in colleges (60%) and professional schools, earning 58 to 60% of bachelor’s degrees, twice as many master’s degrees than men and 40% more doctorates, a phenomenon with far-reaching effects for the legal, medical, dental, veterinary and pharmacological professions.
And yet, women still earn only 83 to 84 cents for every dollar men do. (Indeed, it will take them until March 4, Equal Pay Day in the United States this year, to earn what men did in 2025.)
Women also tend to be less knowledgeable about finance, a profession in which the average adviser is a 63-year-old male. But they also have a hunger for that knowledge – and for connecting with the right person to share it with them, Hillary Ambrose McGrail said.
McGrail knows all about connecting. She is a senior relationship manager at King Financial Network (KFN) in New Canaan, part of a team of 15 people who manage $1.2 billion in assets under Catera Wealth Services LLC.
“What’s most important to me is listening to my clients and what they care about. What keeps them up at night? …It’s not just macroeconomics, it’s micro. It starts with having a plan.”
McGrail has more than 20 years of experience in the financial sector, serving as a managing director, adviser consultant and equity stakeholder at FLX Networks Inc., where she worked closely with financial professionals to enhance their service offerings and optimize investment strategies. Before that, she was a top-ranked vice president at LoCorr Funds and Neuberger Berman, where she specialized in advising financial professionals on investment selection and portfolio integration, helping them align their strategies with their clients’ financial objectives.
After attending the Loyola School, a private, coeducational Jesuit college preparatory school in Manhattan, McGrail went on to a Bachelor of Arts degree from The Catholic University of America in Washington, D.C. Besides sitting on the Loyola School’s alumni board, she volunteers with New Canaan Cares, a nonprofit designed to advance the health of youths and families, and St. Mark’s Church, also in New Canaan, where she lives with her husband, Frank; their son, John, and the family Labrador, Fritzy.
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Recently, the Westfair Business Journal caught up with McGrail to let her, a passionate listener, do the talking about all things financial:
First, thank you for taking the time. Since women are poised to become bigger players in the market, what should women know about money?
“….That it’s not just about investments and picking stocks and bonds. It’s taking a step back, a big step back, and asking the question, What does financial security mean to me? What’s keeping me up at night? What are my hopes and dreams? It varies for each individual. And it starts with learning about you and what’s important to you. Women should have a copy of the family’s financial plan and understand it – even at a high level.”
Speaking about financial literacy – something many of us lack – we wonder what else should women be doing?
“Women need to be involved in meetings with a family adviser and all reviews. They should also ask the adviser to connect them with any educational opportunities that the adviser may have, for example, seminars, webinars, private briefings, etc.”
About 23% of married couples in the U.S. had no joint accounts in 2023, up from 15% in 1996, with reasons cited including marrying later in life and thus having already established finances but also the increasing professional and financial autonomy of women. Should women have separate bank accounts?
“I think this is a personal preference driven by family circumstances. It’s not absolutely necessary for the spouse to have his or her own financial account. But it’s very important that any accounts they do have jointly are titled properly.”
You’re known for taking holistic approach to financial planning, particularly with women, who may be new to this and find themselves uncertain and anxious.
“I’ve spent most of my career on the investment side of our business but can now help families and women with so much more than investments. We find it’s so important to be coordinated with the tax expert, insurance expert and estate planning attorney as examples. The statistic that stopped me in my tracks in 2005 was a study that 70% of all widows change advisers upon the death of their spouses within 12 months. This stat has not changed. It remains 70%. I look to help change that number. Women deserve attention, patience and to be heard. I believe financial planning can be an overwhelming and complex subject, and we try to handhold our clients through the process.”
Tax season is once again upon us. We know you cannot dispense advice but any general tips?
“My most important tax tip: Connect with your accountant. Don’t leave that process to the spouse. My suggestion would be not to do your own taxes. One common scenario we see is folks who manage their own investments and miss the opportunity to tax loss harvest.) The logic is that they are saving a fee by not having a financial adviser. However, in a year like 2025, April was an excellent time to tax loss harvest to offset gains.
“Another scenario is a family who makes charitable contributions and writes a check. This is a missed opportunity to pass along gains (save in taxes) to the charity or nonprofit of your choice, instead of writing a check or using your credit card.”
“Hillary Ambrose McGrail is a senior relationship manager at King Financial Network (KFN), offering securities through Cetera Wealth Services LLC, member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC, a registered investment adviser. Cetera is under separate ownership from any other named entity. 140 Elm St., New Canaan, Connecticut, 06840.
“For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera Wealth Services LLC nor any of its representatives may give legal or tax advice.”
