As an advisor, do you measure up?

When women choose a financial advisor, they look for more than a qualified and properly registered advisor who works for a well-respected firm; they look for someone they feel comfortable with and someone they can relate to and trust.

So what does that mean to financial advisors who are used to being judged on their performance? How can you change your behaviors and approach to be the kind of advisor women want? First and foremost you have to understand what is really important to women (in addition to performance) and what is likely going through their heads when they meet you. Remember, you only have one chance at making a good first impression so it’s worth your while to see how you’d measure up.

What women look for in an advisor:

  • Someone they can relate to on a personal level.
    Do we have any interests in common, something beyond finance?
  • A person who will understand them and their unique situation.
    Can this advisor appreciate losing a partner or understand my fear of being destitute? Does he know what it’s like being a busy executive and/or parent?
  • A mutually trusting relationship.
    Does he only seem interested in my money or is he willing to earn my trust by giving me information that’s important to me but where he makes no money?
  • Someone who really listens and is more interested in her than in “selling” something.
    Does he spend more time trying to impress me with his credentials and investing strategies than he does listening to me?
  • A person who respects her and her time.
    Is he trying to rush me? Does he make me feel like I don’t have enough money to waste his time and is he willing to meet me on my schedule?
  • An advisor who can put investing in terms that resonate with her.
    When he talks about portfolios, does he talk jargon, asset allocation and security selection or does he talk about investing in terms of my life goals?
  • Someone who is clear and transparent about how he gets paid.
    Does he seem comfortable talking about how he makes money from my account? Or does he skip the details and hope I don’t ask any questions?

Take away: It’s not just about performance. Women want an advisor they can have a relationship with, who respects them, speaks their language and builds their confidence.


Share this post:
Copyright © 2018 All Rights Reserved.