A clear majority of Americans prefer executives with a more collaborative and creative leadership style, and seven out of 10 associate these leadership styles with women, according to a new study by Pershing.

“It’s clear that women are contributing exciting new approaches to management and leadership,” says Kim Dellarocca, global head of practice management and segment marketing at Pershing. “However the research shows that a gap still exists between the acceptance of management style and the actual preferences in leadership choices.”

Pershing's white paper, called “Americans Crave A New Kind of Leader—And Women Are Ready to Deliver,” found that 77% attribute the traditional leadership approach of command and control to men; however, employees desire a more collaborative and creative style of management, includes employees in the financial services industry.

"Women are natural listeners with the ability to hear their clients emotionally," said Regina Meredith-Carpeni, chief operating officer with BNY Mellon Global and Capital Markets. "The more a financial advisor can connect emotionally with their client, the better the sale."

When asked about women in specific roles and occupations, the study found that a majority of Americans fall back on traditional gender roles.

"Consumers want to work with women financial advisors, but there aren't enough to go around; however, men have the opportunity to learn to serve women differently," Dellarocca told Financial Advisor magazine.

Only 30% of financial advisors are women, and female consumers want female financial advisors, says previous Pershing research.

"A woman's way of leading is an advantage when working as a financial advisor in many ways," said Dr. Vanessa Weaver, clinical psychologist and CEO of Alignment Strategies Inc. "Women often outlive their husbands, and they want to connect with a woman to discuss finances when they feel vulnerable about being a widow."

The consensus among the three female experts presenting at Pershing's gender summit on February 26 at the Times Square W Hotel in Manhattan was that women have developed a distinct style of leadership as a result of societal expectations.

"From raising a family to keeping a marriage going, women are socialized to balance multiple people and interests and to keep it moving all the time," Weaver told Financial Advisor. “It's important for a financial advisor to be empathetic, listen and connect emotionally with a client's aspirations, hopes and fears so that the person feels comfortable speaking about their financial needs. Women can be more empathic quicker."

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