The recent Financial Planning Association (FPA) conference focused in part on changing the way advisors communicate with their female clients, stating that women need to be talked to rather than talked at.
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Investment News reported that Elizabeth Jetton, a former FPA president, emphasized the need to make conversations with female investors a participatory process. She also expressed disdain at the categorization of female investors as a niche.
Advisors tend to think that women know less about money-related issues than men. Women also may seem less comfortable talking about money but that may be because they are so consumed with running family life on a day-to-day basis they may fail to plan adequately for the future.
You can help fill that gap with your female clients by alleviating the tension between what’s needed today and what they may need down the road.
Viewing female clients as an exciting new part of your business can open conversations that enable women to share their wisdom and to understanding what they need in every area of wealth management and financial planning.
Just as in working with new generations of wealth, stepping out of the self-perception of expert and into the role of a truly interested partner will enhance business growth on multiple levels.