Financial Advisors Offend Women, Survey Finds
Prue, Jacqueline |
How many women have had the experience of a financial adviser calling at home only to ask if he or she might speak with her husband? According to a
In "Anatomy of a Business," author
Only 11 percent of American women prefer to work with a female financial adviser, the
The female economy is one of the largest on earth. Women worldwide earn
Regardless of gender, there are a few things that every financial adviser should provide. First and foremost is a discovery meeting. To meet your needs properly, a wealth manager should spend a lot of time getting to know you. He or she might ask a number of questions such as, "What's important to you about money?"
An adviser should also provide regularly structured meetings. It is the job of the financial adviser/wealth manager to take into account the full range of financial needs, hopes and dreams. Managing money for retirement, choosing insurance options and integrating tax and estate advice is a major task.
Women as clients in particular need a variety of financial tools. For one, they need to feel their children are well taken care of.
The real problem is that there are too many advisers who view themselves simply as investment generalists or product specialists. They don't utilize an integrated approach arising from an understanding of the client's deepest needs, values and goals. These advisers do not utilize a consultative approach to create integrated solutions for the purpose of solving client challenges. In other words, they do not work closely with their clients.
While most financial service companies still focus on style over substance, there are a few that actually "get it." Given that over the millennia women have developed these specialized skills, their contribution to an in-depth approach, whether as client or as investment manager, should be essential.
Copyright: | (c) 2012 Westfair Communications |
Source: | Proquest LLC |
Wordcount: | 646 |
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