Advisors all over the country are flocking to workshops, reading books and articles seeking out the secret to tapping into the lucrative women’s market. Many advisors are learning that to to truly capitalize on this ever growing market they must become a Women’s Wealth Specialist validating their commitment to women.
How are you validating your commitment to women?
Do you position yourself as the advisor for women in your community who is truly committed to their success? Do you separate yourself from those who say they focus on women but in reality simply see women as a new source of revenues; further damaging even your reputation. Or are you a typical advisor that says they focus on women, but have made few to no changes to their practice that actually reflects they are committed to women? Most do not know that this path is one that only deepens a woman’s lack of trust and confidence in working with a financial professional.
You must honestly ask yourself… “Why would women see you any differently than a typical advisor?” Yes, you can articulate your commitment to women and generate interest, but how do you compel women to trust you in the first 30 seconds of conversation?
Two guidelines are critical in doing so:
First, be sincere about your focus on women and commit time and energy to understanding what women want , why they are not happy with the financial industry, and how you can address their needs with competency. Second, get crystal clear on WHY you care about women. Sharing your story that validates your commitment to women will have an immediate impact on their level of trust and interest. Without this story you are simply another face in the multitude of advisors who see women as a self-serving tool to accumulating more assets and production.
I had a client who was deeply committed to women. He took the time to engage and educate them to increase their financial confidence, but because he could not share why he cared about women he simply blended in with all of the other opportunists. As a result he never developed traction in the women’s market.
Don’t let that happen to you!
