HoyleCohen, the San Diego-based wealth management and estate planning firm, has introduced a new advisory practice that targets high net worth women.

Wealth By Design For Women focuses on both women in transition, such as recent divorcees and widows, and entrepreneurial and professional women taking a fresh look into their wealth creation and preservation strategies, particularly those between the ages of 45 and 75. It is led by Elisabeth Cullington and Janet Acheatel, both certified financial planners.

The launch taps into a trend in the industry, as women gain financial power and an increasing number of wealth management companies are looking to ensure they cater to their needs and preferences, from investment lifecycles to preferred communication channels.

"Women's societal influence and wealth are on a one-way track leading upwards. Studies have shown that in the next decade, women will control two-thirds of consumer wealth. [The new service] is our way of showing support to women and meeting a real need in our industry," said Mark Delfino, managing director at HoyleCohen. 

The offering will collaborate with clients' other trusted advisors including attorneys, real estate professionals, insurance agents, CPAs, and bankers to enable a "truly holistic service," the firm said.