The financial services industry has been talking a lot about diversity and inequality, but two new reports show that the industry continues to fall short when working with women, exacerbating a persistent gender gap in retirement savings.

Past research has shown women are less involved than men in longer-term financial decisions and hold less retirement wealth—in part due to the gender wage gap and taking time out for caregiving—to fund longer life expectancies than men. But the industry, which is still 80% male, also has played a role.