Super funds drive gender equality among advisers

New data from Wealth Data shows a pronounced gender gap among financial advisers, but a growing focus on superannuation‑based advice may be shifting the balance.

Gender split across advice sectors

Across all business models, the aggregate composition of advisers is 78 % men and 22 % women. When the sample is narrowed to the 615 advisers who provide superannuation fund‑based advice, the proportion of female advisers rises to 33 %.

The accountancy‑limited advice sector has the highest female representation at 42 %, while investment advice records the lowest at 18 %.

Wealth Data founder Colin Williams noted, “The pattern is telling. The models with the most balanced intake are also among the smallest, while the two largest models by headcount, Financial Planning at 10,332 advisers and Investment Advice at 2,907, are the most male‑dominated. Because these two segments account for the overwhelming majority of advisers, they effectively set the national ratio.”

Super funds’ digital push

Although in‑person advisers may be declining, several super funds remain committed to offering advice digitally, following the Delivering Better Financial Outcomes legislation that encourages funds to bridge the gap between advisers and consumers.

The Financial Services Council (FSC) says super funds hold a uniquely powerful position because they operate at scale, maintain ongoing member relationships and sit at the centre of key decisions across accumulation, transition to retirement and retirement.

Funds that fail to build structured digital pathways risk pushing members toward delayed decisions or less protected alternatives, including AI‑enabled tools operating outside the licensed system.

For example, Aware Super has a “bold ambition” to be a digital advice leader among super funds. Jo Brennan, group executive for member engagement, education and advice, said the $200 billion fund found its members who accessed digital advice were 1.6 times more likely to make voluntary contributions than those who did not.

Aware Super currently offers two digital platforms – My Retirement Planner and My Retirement Manager – the latter launched in February to follow members into retirement.

Women may benefit from the digital shift.

Meanwhile, NGS Super has overhauled its member advice offering with new digital guidance tools and expanded financial planning services, aiming to improve access to affordable advice.

The platform provides guidance on superannuation‑related issues such as investment choice, insurance, contributions and transitioning to retirement, while also directing members to phone‑based or full financial advice where needed.

In practice, the shift toward digital advice could make it easier for women to enter the field, as remote work and flexible scheduling can lower traditional barriers that have kept many female professionals out of the sector.

Still, the overall adviser field remains heavily weighted toward men, especially in the largest segments that dominate the market.