The fact that female investors want a trustworthy advisor isn't really news, but there are still some viable insights in the latest Spectrem study.
Of course 98% of the affluent women Spectrem surveyed say honesty and trustworthiness are key criteria in their choice of financial advisors. Did anyone expect them to say that it was okay to trust a crooked advisor with their wealth?
Presumably male investors are equally uncomfortable working with someone they can't trust. That's really a no-brainer.
But more interestingly, these women are wary of any kind of sales-oriented relationship. They don't want a high-pressure pitch or a veiled conflict of interest between their advisor and their own needs.
Again, this is probably true of male investors as well.
The urge to segregate clients into "male" and "female" personality types has been going on for at least a decade now and probably a lot longer. A lot of the time, it's counterproductive and even insulting.
This time, however, there was an actionable point buried in the data: it turns out that women are much more likely than men to be interested in environmental and socially responsible investments.
They're also less enthusiastic about anything to do with oil.
That's something advisors can actually trot out in their daily practices to demonstrate real value.