The Enduring Advisory Firm

Chapter 9 Investing Women

Female Investors at a Glance

Women are not a niche. They are 51 percent of the population and there are niche markets within the women’s demographic. Developing market segments of your female clients can take a number of forms. Here are some suggestions for the ways that you can relate better to your female clients. It will be more meaningful and create a better client experience, if you use a “segment”. Consider categories such as these suggested here:

• Lifestyle. The following factors affecting the investing needs of women:
  • Age, generation, or phase of life
  • Profession (working outside the home, stay at home, career specialty or industry)
  • Life partner status (single by choice, married, widowed, divorced, same sex)
  • Geographic location
• Behavior and attitudes. Discuss the following with your female clients as you work together to develop a plan for your advisory relationship:
  • Degree of tech savviness and communication preferences
  • Advice orientation
  • Alignment with the way you manage your business
  • Common sets of needs (sandwich generation, elder care)
• Financial and economic factors that affect the client-advisor relationship:
  • Available assets to manage
  • Total income
• Portfolio complexity and risk tolerance

Working with Female Clients

Considering the unique needs of women beyond their gender is a first step. For some advisors, this will be a large change in thinking about and understanding their client experience.

Combining Gender and Generation ...