Women and Investing: What Is Your Brand?

Executive summary:

  • By 2030, $30 trillion, or two-thirds of U.S. personal wealth, will be controlled by females
  • Women are increasingly making decisions for themselves and their families in all other aspects of their lives, and financial advice is no different
  • Women-only events can be a way to achieve that deeper connection with this important demographic and help advisors not only retain their current business but potentially grow it

Every day is an opportunity for a brand to make an impression on us as we decide which products or services to use. Usually that experience is highly personalized and highly engaging. Whether it's researching our next vacation, planning a home renovation project, or as simple as placing an online order for coffee, high touch, high personalization are how consumers expect to be engaged nowadays.

Brands have an even greater opportunity to make a good impression on women given the enormous purchasing power we have. From groceries, to social events, vacations, a child's education, clothing or activities, women contribute $7.6 trillion to the gross domestic product of the United States every year through the decisions they make about how they spend money1. In fact, women account for 85% of all consumer purchasing decisions.2

Yet when I think about how the financial services industry markets their products and services to female investors, I come up short on that high touch, high personalization approach. Let's face it, male investors have traditionally been the target of full-service financial advisors, likely stemming from the outdated assumption of who is the head of household and who calls the shots about where assets are placed.