Women Money & Power
By 2010, American women will control over 60% of all the wealth in this country. Yet, despite the tremendous social and economic gains women have made over the past few generations, 90% of women feel financially insecure. You may feel this way too.
When it comes to finances and relationships, women and men have dramatically different attitudes toward money and investing. Women have unique and varying financial profiles when it comes to shopping for a financial advisor.
We specialize in what women want when it comes to financial planning – their learning preferences and the types of venues they prefer to learn in.
- Need for consumer-friendly materials written specifically for women
Half of all women find available information overwhelming, difficult to understand, or boring.
Half of all women said their parents never discussed financial planning and this issue was frequently cited as a major barrier to financial literacy. Not only were schools and colleges remiss in providing even rudimentary guidance, but women told us that parents themselves never discussed these issues in front of kids.
- Women are eager and enthusiastic about learning more
Central to the study was the discovery that women are increasingly eager to learn about financial planning – this enthusiasm is even more pronounced among single and ethnically diverse women.
- Preference for human contact when learning about financial planning
50% more women prefer “a person telling me” versus “reading about” financial planning. Women view the web and print materials as less effective than receiving clear, relevant, and fun information delivered by another person.
- Divorce and widowhood affect women’s financial health
43% of divorced women feel their divorce “plunged them into financial crisis” and 44% of widows say this caused them to seek out financial guidance in a whole new way. Losing one’s spouse through divorce or death represents a major life event that creates a need for assistance and support.
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