Podcast Summary: Bloomberg Businessweek

Episode: Why Women May Control the Next Generation of Finance
Date: October 1, 2025
Hosts: Carol Massar & Tim Stenovec
Guests: April Rudin (Founder & CEO, The Rudin Group), Nick Rice (Director, Brunswick)
Theme: The economic and societal impacts of women controlling an unprecedented share of global wealth, and the ensuing shifts in investment, philanthropy, and the finance sector.

Episode Overview

This episode delves into the "great wealth transfer"—with a focus on the rising financial power of women and the transformative impact this is having on wealth management, investing, and philanthropy. Carol Massar and Tim Stenovec are joined by April Rudin and Nick Rice, co-authors of the forthcoming book Wealth Management with a Difference. The conversation spans demographic trends, the evolving priorities of women investors, the globalization of wealth, and the changing roles—and makeup—of the financial advisory industry.

Key Discussion Points & Insights

1. The Scale and Nature of the Wealth Shift

• Women’s Growing Financial Power

  • By 2030, women in the U.S. are projected to control $34 trillion—38% of investable assets, nearly double from a decade ago. (01:27)
  • This trend is global and is influencing wealth management strategies worldwide.

• Wealth Transition, Not Just Transfer

  • April Rudin distinguishes between "wealth transfer" (the passing down of money after death) and "wealth transition" (women controlling and managing wealth for longer due to increased longevity):

    “It’s actually more of a wealth transition… Women live longer. So before that wealth transfer has happened, there’s going to be a—” (02:42)

  • The next recipients of wealth are likely Gen X, rather than Gen Z, making succession and intergenerational planning more nuanced. (03:24)

2. How Women’s Financial Control Changes Investing and Giving

• Purpose & Impact Drive Decisions

  • Nick Rice highlights that women, especially younger generations, are prioritizing investments and philanthropic activities with measurable impact and clear purpose:

    “Women are very, very passionate about using their investments and their philanthropy to fulfill specific purposes and… to ensure that they have impact in a way that might not have happened in the past...” (04:11)

• Sustainability and Global Trends

  • Sustainability is a top concern for many women investors, especially outside the U.S. April notes:

    “...our book is for a global audience and that [sustainability focus] has not died down in Europe and Asia. Impact investing. Sustainability is really hot and it's something very important.” (05:21)

  • In contrast, the hosts observe waning U.S. focus on renewables, but guests clarify this is not a universal trend. (06:01)

3. Globalization and the Evolving Financial Landscape

• Global Wealth, Local Priorities
  • April Rudin: More financial firms and people are “global in nature,” making cross-border considerations and technology integration essential. (06:20)
  • The look and feel of wealth management firms reflect their values—contrasting traditional U.S. firms with greener, more sustainable European offices. (06:20)

4. Where the Money Is Going

• Alternative and International Investments
  • Nick Rice points to the rise in alternative investments (private credit, private markets, digital assets):

    “…increasing capital flow towards alternative investments, specifically private credit… also digital assets.” (07:33)

  • Clients are seeking easier access to these through new vehicles, including in retirement accounts. (07:33)
  • International investing is becoming more complex with deglobalization—more cross-border considerations rather than less. (07:33)

5. Implications for the Financial Advisory Industry

• The Enduring Value of Human Advisors

  • Despite robo-advisors and trends toward passive investing, demand for personalized advice is increasing due to market volatility and retiring advisors:

    “It’s really the confluence of all these different things happening. It's more and more advisors retiring and its volatile markets.” (08:36)

• Diversity & Recruitment Challenges

  • The financial advisor workforce remains only 15% women, a fact April says must change as the industry itself evolves in how people are recruited:

    “There's been a real shift in who is a financial advisor and how to recruit people into it. Only 15% of the workforce is women and traditionally finance majors have been recruited. And now not so much.” (08:36)

Notable Quotes and Memorable Moments

• On Misconceptions of Wealth Transfer:

  “People were under the impression that the transfer was also going to go to Gen Z. Right. But actually it's going to go to Gen X. And Gen X are now in their 60s and approaching retirement themselves, some of them. So I think it's more complicated than what people think.”
  —April Rudin (03:24)

• On Purpose-Driven Investing:

  “Female clients, particularly the younger generation, are more focused on measuring that impact, generating that impact and also making money through purpose-driven activities.”
  —Nick Rice (04:11)

• On Globalization of Wealth Management:

  “We spoke to 80 senior leaders across the world. Because more and more firms are global in nature and more and more people are mobile in nature.”
  —April Rudin (06:20)

• On The Changing Face of Advisors:

  “There's been a real shift in who is a financial advisor and how to recruit people into it. Only 15% of the workforce is women…”
  —April Rudin (08:36)

Timestamps for Key Segments

• 01:27 — Introduction: Women’s rising financial influence
• 02:42 — April Rudin: Wealth transition vs. wealth transfer
• 03:24 — Demographics of inheritance: Gen X not Gen Z
• 04:11 — Nick Rice: Purpose-driven investing and philanthropy
• 05:21 — Sustainability and global differences
• 06:20 — Globalization and firm culture
• 07:33 — Nick Rice: Alternative investments and internationalization
• 08:36 — April Rudin: The need for human advisors and diversity in hiring

Overall Tone & Takeaways

The discussion is optimistic and forward-thinking, focused on the vast opportunities ahead as women steer a larger share of global wealth. The guests emphasize the need for the financial industry to adapt—not only in products and services, but also in professional culture and diversity. The episode is rich in data, global in perspective, and maintains a conversational yet informed tone.

Recommendation:
Listeners—from industry professionals to anyone interested in the future of money—will find this episode both informative and urgent, a snapshot of how demographic shifts are rewriting the financial playbook.

Next Steps:
Check out April Rudin and Nick Rice's forthcoming book Wealth Management with a Difference and look for upcoming events on women, money, and power for deeper insights.