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Decomposing the Gender Divorce Gap Among Personal Financial Planners

Author

Listed:
  • Meghaan R. Lurtz

    (Kansas State University)

  • Derek T. Tharp

    (University of Southern Maine)

  • Katherine S. Mielitz

    (Oklahoma State University)

  • Michael Kitces
  • D. Allen Ammerman

    (Georgetown University)

Abstract

This study examines gender differences in divorce status among personal financial planners. Data for this study were collected in 2018 via Kitces.com; a website that provides continuing education to financial planners. The data set consists of detailed information on the backgrounds and practices of 583 financial planners in the United States. The associations between current divorce status and financial planner characteristics are estimated using a series of binomial logistic regressions. Female financial planners are found to be currently divorced at a rate nearly 270% higher than male financial planners. Blinder–Oaxaca decomposition analysis suggests that 34% of this gender divorce gap can be explained by the differences evaluated within this analysis. Among males, age and a desire for work-life balance are found to be positively associated with current divorce status, while agreeableness, working within an ensemble team structure, and a desire for lifestyle flexibility are found to be negatively associated with current divorce status. Among females, age and a desire for stable pay are found to be positively associated with current divorce status.

Suggested Citation

  • Meghaan R. Lurtz & Derek T. Tharp & Katherine S. Mielitz & Michael Kitces & D. Allen Ammerman, 2020. "Decomposing the Gender Divorce Gap Among Personal Financial Planners," Journal of Family and Economic Issues, Springer, vol. 41(1), pages 19-36, March.
    • Handle: RePEc:kap:jfamec:v:41:y:2020:i:1:d:10.1007_s10834-019-09655-x
    DOI: 10.1007/s10834-019-09655-x
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    Cited by:

    1. Tharp, Derek & Parks-Stamm, Elizabeth & Lurtz, Meghaan & Kitces, Michael, 2020. "Exploring Gender Differences in Marriage and Parental Income Premiums among Financial Advisors," SocArXiv 7k95t, Center for Open Science.
    2. Man Yao & Tori I. Rehr & Erica P. Regan, 2023. "Gender Differences in Financial Knowledge among College Students: Evidence from a Recent Multi-institutional Survey," Journal of Family and Economic Issues, Springer, vol. 44(3), pages 693-713, September.
    3. Derek T. Tharp & Elizabeth J. Parks-Stamm & Meghaan Lurtz & Michael Kitces, 2022. "Exploring Gender Differences in Marital and Parental Income Premiums Among Financial Advisors," Journal of Family and Economic Issues, Springer, vol. 43(1), pages 15-35, March.

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