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W W W. M A I N E B I Z . B I Z 13 D E C E M B E R 1 , 2 0 2 5 F O C U S B A N K I N G / F I N A N C E / I N S U R A N C E 43%, while the amount of wealth con- trolled by women rose by 51%. e dollar amounts are staggering. As of 2023, women controlled an esti- mated $60 trillion in global assets under management. By 2030, that figure is projected to approach $114 trillion, repre- senting 10% growth per year. Reasons cited for the shift include a decline in marriage rates coupled with high divorce rates, continued growth in women's earnings and longer average life spans. Women, for example, are not only more likely to marry later in life but also more likely to stay single and more likely to divorce if they do marry, McKinsey researchers note. Inheritance via the so-called great wealth transfer from baby boomers and older generations is also a factor, as laid out in a December 2024 report by Cerulli Associates, a Boston-based financial services firm. It expects $124 tril- lion in wealth to be transferred through 2048, with $105 trillion of that amount flowing to heirs and the rest to charity. Projections of horizontal, or intra-gen- erational, transfers show that $54 trillion will be passed on to spouses before even- tually transferring to heirs and to chari- ties, and that $40 trillion of the spousal transfers will go to widowed women in the baby boomer and older generations. All that wealth in new hands will usher in a new generation of investors, with far more women in the mix than before. Maine Angels flying high Based in Portland, Maine Angels is a nonprofit network that finances innova- tive startups. Its members — 102 in total, 30% of whom are women — invest in and mentor early-stage companies, both as individuals and via pooled capital in sidecar funds. Collectively since 2003, they've spread more than $41 million across 100 companies. e new Dirigo Angel Fund III, a $2.8 million venture fund that closed in November, is the group's largest to date. Half of the 20 investors in the fund are women. Backers include North Yarmouth resident Marie McCarthy, who joined Maine Angels a few months after retiring as chief operations officer at L.L.Bean. "I had heard of Maine Angels maybe a decade or so ago, but I don't know that I would have been at the investment level," says McCarthy, who serves on several corporate boards. Today, "I have a little bit of elbow room to learn more about" angel investing. Finding the experience "immediately mind-expanding," she says it "feels more like college than retirement." Along similar lines, Mary Ellen Eagan became interested in investing after retiring from a corporate job in transportation environmental policy and strategy in 2022, when she moved C O N T I N U E D O N F O L L OW I N G PA G E » Find a credit union near you at mainecreditunions.org Helping local businesses thrive. Maine Credit Unions are built around one simple idea... People Helping People. From local startups to established businesses, Maine credit unions provide the tools, guidance, and personal service you need to grow. Whether it's business lending, cash management, or everyday banking, your credit union is here to make doing business easier and to reinvest in the communities we all share. Financial planning for female clients W hile financial planning has long been a male-dominated industry, more women in Maine and nationwide are entering the profession — and advising a growing number of female clients. For Amanda Rand, president and CEO of Spinnaker Trust in Portland, clients include several women who stayed on as individual clients after divorce. "That speaks to our ability to connect with both members of a couple," says Rand, who is also seeing more women breadwinners along with older clients preparing for retirement. At Cornerstone Financial Planning, Mackenzie Parsons fre- quently hears concerns from female clients about the cost of long-term care and a strong desire not to burden their children. "Many women take a long-view approach to planning and want to be proactive about protecting their independence. This often shapes their savings goals, insurance decisions and the overall financial strategy more noticeably than it would for men," she says. In Falmouth, Back Cove Financial's Sarah Halpin advises female clients who inherited wealth through death or divorce, are high earners and entrepreneurs focused on succession planning. Regardless of income level or life stage, Halpin finds that women are often worried about running out of money, which leads them to focus on risk-adjusted returns in their portfolios. "They want that peace of mind, they want that stability," she says. Mackenzie Parsons Amanda Rand

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