Empowering Women & Investing: Strategies for Financial Professionals

Executive summary:

  • In support of International Women’s Day, we consider the theme of #InspireInclusion which encourages us to collectively support opportunities for women.
  • Learn how to engage and tailor approaches for women, addressing unique challenges and priorities in financial planning.
  • Discover insights and resources to actively support female clients, seize opportunities, and shape the future of wealth management for women.

My parents were never the kind of people to think they needed to work with a financial advisor. They had their checking and savings account, their 401(k)s and pensions. What else did they need? It wasn't until my mom passed away in 2020 that my dad fully understood the importance of taking control of his finances and having a professional build a plan to help get him to and through retirement. Because my husband and I both work in the financial industry, we were lucky enough to have a network of people to get him pointed in the right direction. Or so we thought. But something interesting happened. The financial planner we had found for him had no interest in bringing me (my dad's power of attorney) or my sister into the conversation. Instead, he offered for my husband to join the meeting.

Thankfully, my father saw the writing on the wall. This was not the advisor to help him build the financial plan he was looking for. But it got me thinking about my mom. Would she have experienced the same lack of consideration from the advisor? Is that a common practice from financial advisors for their married clients?