Dr. Sylvia Kwan: Why Economic Equality Is the Key to True Equality

Name three women who inspire you

My Mom – 91 years young and legally blind for most of her life yet unstoppable Oprah Winfrey – overcame poverty and abuse, breaking barriers for women of color to become a media mogul and billionaire Billie Jean King – pioneering advocate for equal pay and gender equality in women’s sports.

What is one defining moment in your career or life that empowered you to create change, and how has it shaped the path you’re on today?

The realization that everything comes down to money. And women need more of it. Money is power – the power to live the lives we want, the power to influence, and the power to change. Helping women step into their economic power by building and managing wealth intentionally has really defined my career as the inspiration and mission of Ellevest.

As we look to the future, what is one key change or innovation you believe is essential for advancing equality and empowerment in your field?

We need a seismic cultural shift when it comes to women and money. For too long, money has been a taboo subject for women and often a source of shame and stress. Talking about money needs to feel natural and empowering for women. We should aspire to be rich! Women need to realize, understand, embrace, and wield the power of their capital for themselves, and to effect the change we want to see. That is our mission at Ellevest because, without economic equality, there is no true equality.

What is the legacy you hope to leave behind as a changemaker and leader in your industry?

I want women to feel empowered by their capital and to be able to talk about it with pride, not shame or guilt. I want women to realize that investing is one of the most powerful ways to build wealth and to help close economic, gender, social, and environmental gaps. Ellevest is at the forefront of this kind of investing and I would love to see impact investing be the norm in our industry.

In honor of Gloria Steinem’s 90 years of advocacy, what do you believe is her most enduring contribution to women’s empowerment, and how has it inspired your own journey?

Gloria challenged societal expectations of how women should be and behave and gave women a strong voice. Gloria’s tireless work and advocacy pushed us off the sidelines and got us a seat at the table on so many critical social and political issues. For my own journey, being in financial services, I want to get women off the sidelines of investing and fully engaged with the power of their capital. Ultimately, we can only achieve true equality when there is economic equality.

What does progress for women look like in your field, and what steps do you believe are necessary to keep that momentum going?

There is a great wealth transfer underfoot, with women set to inherit $34T by 2030, an amount approaching the annual GDP of the US. With the financial industry still dominated by men, we are behind in serving the beneficiaries of this transfer. We need more women to disrupt the industry, and to create investment solutions that truly serve women and help them manage their wealth with intention.