Wealthy women who are invited to banks' events or approached by financial advisers should find out what the firm's commitment to educating their clients about money is before moving assets, said Zehner of Women Moving Millions, who has been or is a client of Morgan Stanley, Goldman Sachs, JPMorgan Chase & Co., Charles Schwab and Northern Trust Corp.
They should also ask about the fee structure, whether the firm sells non-proprietary products and what its commitment to women's leadership within the organization is, she said.
Since there are few women in top positions in the finance industry, there still may not be enough understanding about the best ways to work with women once they're clients, and if they require different investing strategies, according to Hewlett of the Center for Work-Life Policy. Women made up 18 percent of executive officers at Fortune 500 finance and insurance companies, according to a 2011 report from Catalyst, a nonprofit that focuses on women and business.
"I don't see anyone that's really shown a full commitment to the high-net-worth women market," Zehner said. "There's just a huge, huge opportunity for a firm to really do it well."