The “Old Boys’ Club” is alive and well in the securities industry. As the attached article points out, it remains a male-dominated industry. The top salespersons are typically male, and their sales assistants are typically female. Furthermore, the male salespersons often provide substantial compensation out of their own pockets to their female assistants, which further widens the power gap. Too often, this power imbalance is abused. If you know someone who has been the victim of such behavior, please let them know I can help. I’ve spent my entire career arbitrating cases before FINRA and know the system well.
Further reading: Brokers’ Offices Are Sexual Harassment Cases Waiting to Explode