Refining Your Approach to Advising Women

Traditional wealth planning assumes income will steadily increase year after year. For many women, this isn’t necessarily the case. Statistically, they are likely to face one or more life-changing events – including divorce, assuming a caregiving role or becoming a widow – in addition to increasing longevity, the gender pay gap and so many other hurdles that can create financial struggles.

Anticipating these events and planning ahead is not only important to your clients, but also crucial to your practice. According to a 2020 report from Oliver Wyman, the industry left nearly $700 billion on the table by failing to address the unique financial challenges of women. The good news is:

  • Women want training and tools that help with long-term planning
  • 65% of women who invest are willing to pay a 20% premium for in-person advice
  • 30% more women than men want to receive financial advice in person

Ideal Producers Group has created a library of resources to use in your practice to initiate conversations with your female clients; educate, engage and build relationships with them; and offer the financial solutions in their best interests.

Complete the form for immediate access to some of our most popular pieces!

Sources: “Women in Financial Services,” Oliver Wyman, 2020; Wealth Management: Building a Winning Client Experience for Women, a Simon-Kucher & Partners study released October 25, 2022