Women are Completely Disenchanted with Advisors

Yes, even you ...

During a two day workshop I introduced Audrey to a room filled with financial advisors. She was a very affluent woman who was going through a divorce. Advisors listened to her personal experiences with her finances, investing and working with a financial advisor. While her comments were enlightening, they certainly weren’t positive. She painted a clear picture of what it feels like to be woman facing the old-school, traditionally masculine approach to marketing in the financial industry, and a clear message came through…

Most women are completely disenchanted with their financial advisors.

Over the next day and a half, as the advisors shared their processes and marketing strategies, I can’t tell you how often we saw her quietly shaking her head “no” giving the advisors pause.  But, every once in a while, she would enthusiastically nod or say, “YES! I LOVE that!” That was the “click” these advisors needed. When presented with a human barometer of what actually works – and what definitely does not work – for women, advisors came to see that they had often turned off, or even insulted, many of the women they met with. Everything she shared reinforced the new paradigm in financial services. Today’s woman wants:
  • You to develop a relationship with her; building trust through communication and mutual connections.
  • You to inspire and educate her before committing to business.
  • You to motivate and encourage her to take the steps to secure her financial future.
Advisors, prospecting – selling – and closing are gone; it’s time for advisors to make way for women clients. Women are transforming the environment and forcing a paradigm shift in the world of advisors. Lead this shift and capitalize on the new age of advisors, one that recognizes your role is far more important than just picking ETFs and mutual funds. Related: Three-Step Guide to Dramatically Transform Your Conversations with Women