Contrary to the days of the GI generation, people’s lives no longer evolve in any type of chronological linear fashion. But LPL Financial is employing a new approach to marketing to women that restructures service offerings based on life events women experience instead of age-related expectations.
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The four basic life event stages are designated as ‘in relationships,’ ‘in transition,’ ‘in business,’ and ‘in retirement.’ The stages are not necessarily tied to a particular age since women tend to go in and out of different stages at various periods in their lives. They may circle out of a career to start a family, circling back into the ‘in business’ stage after the children reach certain ages.
formed the basis for the model, noting that women’s goals were seven times more likely to be centered around peace of mind than on wealth accumulation. Because women may have more of focus on family wellbeing, basing service offering on life stages makes sense. Women may experience life stages in different ways than men but they are not the only ones whose life experiences are no longer connected to age or a linear order.