In this candid and wide-ranging conversation, host Scott Heinila sits down with Cary Carbonaro—CFP®, author, and one of the most recognized voices on women and wealth in the financial services industry. Cary shares the raw story behind her career, including her difficult experience after her independent firm was acquired by Goldman Sachs, being ranked Investopedia’s #4 advisor in the country (and #1 woman) in 2019, and the painful reality of moving her clients across four firms in five years. Beyond her personal journey, Cary unpacks the data and the playbook behind serving women clients well: the McKinsey projection that women will control two-thirds of the nation’s wealth by 2030, why the industry remains stubbornly male-dominated, and the surprisingly simple “secret sauce” women actually want—education, empowerment, and empathy. She also makes the case for women’s health as women’s wealth, the difference between “finders” and “minders,” and why she runs an intentionally capped, highly profitable practice that has zero client-acquisition cost.
This episode is a must-listen for advisors—male or female—who want to better serve women clients, build a sustainable and profitable practice, and protect themselves through industry consolidation. Cary brings honesty, hard-won lessons, and practical frameworks throughout.
About the guest: Cary Carbonaro is a Certified Financial Planner™, author, and nationally recognized women-and-wealth expert. A frequent media commentator and keynote speaker (20–25 engagements a year), she specializes in serving high-earning women and demystifying wealth management for female clients.
Topics covered: The Invest in Women conference and the value of stepping outside your “ecosystem,” Cary’s Goldman Sachs acquisition story, client ownership and self-sourcing, measuring practices on profitability over AUM, the women’s wealth gap, menopause and HRT as planning conversations, the “female-friendly practice” quiz, and how Cary protects her time and well-being.
Mentioned in this episode: Cary’s book on women and wealth; the McKinsey study (2015) on women controlling two-thirds of U.S. wealth by 2030; Harvard Business Review study on financial services being the least sympathetic industry to women; Investopedia’s 2019 advisor rankings.