Jen Auerbach: Gender of Wealth
on Sunday, April 14, 2019Jen Auerbach Money Quote saying, as head of strategic growth markets at Merrill Lynch Wealth Management that women are controlling and handling more wealth. Jen Auerbach said:
“The gender of wealth in our country has fundamentally changed, and the complexion of wealth in our country is going to continue to change. It is only going to accelerate” — Jen Auerbach
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Jen Auerbach seems to be making a few key points in this quote:
- Traditionally, wealth in the country has been dominated by men (“the gender of wealth”).
- However, this is changing fundamentally as more women are accumulating wealth and becoming financially successful.
- The racial/ethnic makeup (“complexion”) of who holds wealth is also changing and becoming more diverse.
- Both the increasing gender and racial diversity of wealth holders will continue accelerating and changing more rapidly over time.
In summary, Auerbach is observing that who holds wealth in the country is undergoing a significant transformation, with women and non-white ethnic groups acquiring more wealth and financial power at an accelerating pace going forward. This shift away from just white men dominating wealth is an ongoing trend that will only pick up more speed.