Connect with us

Development

The Powerful Surge of Women, Purchasing Power and Investing

Published

Why I talk with women about investing for their future:

I grew up in foster homes and was on welfare with my mother and siblings from age six to twelve. It was humiliating when we paid for food with food stamps and I Never want anyone to experience that feeling. Being poor at six was bad, but I had a lifetime to change my fate. I do NOT want to see women broke at sixty, because if you’re broke at sixty years old, it’s too late to create a great financial future. That’s why I share the message of financial planning for a great financial and secure life.  I want your advisor to make sure you don’t run out of money before you run out of years!  The naysayers say that money isn’t everything. It isn’t. But I compare money to oxygen. I’ve been without it and I have had plenty.  Oxygen and money are two things that make life so much more enjoyable in my opinion.

Women and investing:  

NO, I am not a financial advisor who is writing this article to find more clients. I am a professional speaker who provides sales training to thousands of financial advisors and sales reps. My topics include: how to strengthen client relationships, consultative selling and choosing ideal clients you really enjoy working with.  By asking great questions and intently listening to the answers, relationships get stronger. When you work with clients you really enjoy and want to work with, it makes life and business more enjoyable for both of you. I also encourage financial advisors to learn more about the mindset, values and concerns of their clients. Women and men think differently by the way. (most financial advisors are men in this industry and apparently are not aware of the different mindset).  I am NOT bashing men, but most people know that men and women DO think very differently about life, family and yes, even financial matters.

I’ve been in financial services since 1987, have given more than 5,000 presentations and studied financial success since I was fourteen. I find it nutty that women have been placed in the background as second-class citizens for all these years. That’s changed!!  At fifty plus, many women are wealthy, and many are getting divorced to find happiness again. They are taking control of their lives and I find that very exciting!

Financial Advisors and women:

Most, but not all financial advisors still look at women as a niche market. That’s absurd!!  Today, women are more than half the US population, outlive men by nearly ten years, value strong, meaningful long-term relationships, are starting more businesses and becoming millionaires at a faster pace then men and want to learn more about financial investments. They play a major role in eighty percent of buying decisions, are double inheritors and by 2020 will control over twenty trillion dollars.  Twenty trillion!!!  To me, that’s really exciting and that isn’t a niche by any means!  I’m thrilled for them and admire their outlook about the future, leaving a legacy and providing for their families.  I want to be sure they never need to live on welfare like my mother and family experienced.  With a trustworthy advisor and financial plan, their future is bright!

Advice to financial advisors who want to work with more female clients

Do your research to understand their concerns, what their values are and for goodness sakes, learn how to listen!  Although most women have contributed great attention to budgeting, paying bills and played a major role in financial decisions, the majority of women don’t feel educated enough about investments.  One of the main reasons the majority of women fire an advisor (70%) after a divorce or after a spouse dies, is because they do NOT have a good relationship with them and felt overlooked when talking about finances. Women are loyal customers, excellent at high-quality referrals, much better with long term investments, more disciplined and listen to advice they value.

Continue Reading

Trending