Women as Opportunity
Why one “nice” financial advisor lost two clients!
Recently I had an interesting conversation with a young woman. We were talking about financial advisors when I mentioned that advisors will have to justify their fees by actually delivering service once new fee transparency rules come into play. I was not prepared when she said, “what does ‘providing service’ mean?” I had to think…
Read MoreSurprise – women don’t judge you on performance.
The financial industry, probably more so than any other, is and has been traditionally focused on performance. In a male dominated field, performance is the measuring stick used to determine value, value of assets, value of individuals, and value of organizations. It is no wonder that financial advisors talk instinctively about their and their organizations’…
Read MoreWomen aren’t looking for perfection: they want advisors who are sincere and authentic
Forget about being “superman” or the advisor who always has the answer. Women aren’t looking for perfection. They want advisors who are sincere and authentic. Authentic means “trustworthy” and nothing is more important when it comes to financial advice. But, many times we mean ‘making investment decisions that are in the best interest of a…
Read MoreHeads up Financial Advisors: 3 reasons why Women Make Great Clients
They are loyal If they are happy with your service they will stay with you longer –and they outlive men by 5 – 7 years average. JoAnne Sommers, Investment Executive (online), How to Attract Women Clients, July 7, 2014 They seek advice more often than men 46% women seek advice compared to 34% of men…
Read MoreAre you losing clients before you sign them up?
It was the 80’s and I was in my early thirties, married with two young kids. My husband was gainfully employed and on an upward trajectory. I had worked for a few years and just started my own business, which was looking very promising. Apart from a mortgage (which now seems laughably small), we had…
Read MoreWinner’s Circle: Why Financial Advisors who focus on women will be winners
Women are Looking for Financial Advice According to one independent study, women claim: – they don’t know a good advisor who they can trust – they don’t think they have enough money for a financial professional to be interested in working with them Selling Financial Services to Women — Hatchet Publishing 2012 There is a…
Read More3 Reasons financial advisors need to pay attention to women
80% of women in Canada switch financial advisors within a year of their husband’s death 73% of women report being “unhappy” with the service levels they were receiving from the financial services industry. Women are gaining wealth and power faster than ever before. Women are not simply a “niche demographic,” they are likely the biggest…
Read MoreWhy do we choose to scare rather than cheer on?
I’ve been watching the financial services industry and it’s strategies in attracting investors for more than 40 years. Here’s what I’ve observed: When the industry talks to men, they speak of out performance and doing better. They talk more, opportunity and winners. They even talk low volatility these days. But when they think they are…
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