This is a problem Asked me on a podcast recently.
What wYou want to tell About how they can better serve women’s finance industry?
Oh boy. So much to say. Too few.
But I start from now on:
Women are not men!
Obviously, right? But it is clear that the financial industry has not received the memorandum.
I am a big fan of financial professionals. I have had the same consultant over the years (after going through nine other consultants who did not get memos). I even wrote a booklet. Find a financial advisor you can trust.
Sadly, most consultants (I include both genders here) still live in the dark ages when it comes to female clients.
Here is my advice on how the financial industry can shape and serve women better. I call it:
What women want you to know before you walk into your office – Part 1
1. Women are all about interpersonal relationships.
Men are deal-oriented. Men communicate to obtain information, build status and show independence.
Women are “other”. Women communicate to build relationships and build connections. So when dealing with women, consider “to” contact “not selling to”.
2. Motivate rather than scare.
The industry seems to think the best way to motivate women is to have horrible statistics and worst-case scenarios. But fear is paralyzed in most women.
If you want to motivate a woman, talk about the inspiration that motivates her, not the reasons why she is afraid of her.
Although men define success as being in control, women define success as how much they help others (that’s the relationship!). So, don’t be filled with fear to her, but show her how informed investments can enable her to help the people she loves and to evoke her passion.
There are more pointers in the second part. Also, feel free to send this list to any consultant you know. You will provide them with a big favor.
As a woman, do you want a financial advisor? Tell me in the comments below.
Barbara Huson is the leading authority on women, wealth and power. As a bestselling author, financial therapist, teacher and wealth coach, Barbara helps millions take charge of their finances and lives. Barbara’s business background, years as a journalist, her master’s degree in counseling psychology, extensive research, and her personal experience in money have given her unique perspectives and made her the most important expert in empowering women to fulfill their financial and personal potential.
