When Desiderius Erasmus, a 15th century philosopher and humanist, penned those words he most certainly wasn’t referring to financial advisors. Rather he was making a broad observation that while men and women are very different, often leading to misunderstandings and even conflict – the world would be a poorer place without them.
Little did he imagine that in North America in the 21st Century his words would be prophetic, and not just philosophically.
According to a Prudential Research study more women are; becoming millionaires, the primary breadwinners in the family, graduating from college than men. They control 51.3%, or $14 trillion, in personal wealth and are expected to control $22 trillion within the next decade.
Financial advisors who still think they can live without women had better rethink their strategy.
The bottom line is that women represent a huge and growing market. Advisors who learn how to connect with women and provide a female friendly service will be the winners.
Learn how to Retain Female Clients through our online courses and earn CE credits.