Your Morning Cup of Links: Women and Advisors

Feb 16, 2012

I just saw the results of a survey from Hearts and Wallets that says women are the sole head of 32% of U.S. households, an 18% increase throughout the past five years. That’s no small figure, as it translates to making decisions on trillions of dollars. That got me thinking about the ladies (shut up, it’s all in the name of research).

I’ve rounded up a few articles that provide some insights about women, investing, and their advisory relationships.

Challenge of the Sexes: Big Differences on Financial Planning  – AdvisorOne
It’s important to understand the gender differences that exist when it comes to financial decision making and succession planning. This article boils down the main results from Barclays Wealth study, “Understanding the Female Economy: The Role of Gender in Financial Decision Making and Succession Planning for the Next Generation.”  You may be surprised by the findings.

Women and investing: What advisers need to know – InvestmentNews (requires free registration)
As the number of female investment decision-makers rises, advisors will need to serve and communicate with them more effectively. In April, InvestmentNews kicks off their Women and Investing program.  Be sure to sign up for their series of webcasts on the subject.

Women not sure how their advisers make money: Survey – InvestmentNews (requires free registration)
Would you be surprised to know that 40% of women do not understand how their primary financial services firm earns money? This could be a problem for advisors, since this survey shows women ranked these attributes as being highest in importance for their representative:

• Explaining thing in a way they understand
• Explaining their fees clearly
• Offering low fees

Are you tailoring your approach by gender? Why or why not?

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John Anderson

John Anderson

John Anderson is the creator and lead author of Practically Speaking blog and Managing Director of Practice Management Solutions for the SEI Advisor Network.

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