Financial advisors could be doing a better job of meeting the needs of their female clients, according to a study released on Thursday by BMO Nesbitt Burns.

To mark International Women’s Day, the company released the results of a survey which showed that Canadian women are responsible for making many household financial decisions, but they don’t feel that the financial services industry is doing a good job of servicing their unique needs.

Indeed, 82% of women in Canada say they’re either the primary decision-maker or have equal responsibility for household financial decisions. However, only 30% feel that the financial services industry is currently doing a good job servicing their unique needs as investors.

Almost 40% of women feel that their views and opinions on financial matters are not taken as seriously as those of men.

“As an industry, we need to do a better job of recognizing the key differences between men and women when it comes to managing their wealth and acknowledging that women tend to make decisions differently than men,” said Charyl Galpin, co-head and executive vice president at BMO Nesbitt Burns – Private Client Division. “We need to include women more in financial conversations. Women are looking for clear, honest, and relevant communication regarding product and service offerings.”

Women often act as the “chief financial officer” of their families, taking the lead on household financial decisions including budgeting and education savings for children. This is often overlooked by the financial services industry.

Nearly two-thirds of the women surveyed said they want their investment advisors to provide more detailed information on how they can better manage their family’s wealth. And, a third of women said they have different wealth management needs than men, and they feel that they should therefore be given different advice.