It’s a great day to be a woman. Or is it?
There are two sides to this coin, at least where the financial services industry is concerned.
Women may make better traders compared to men, due to something as simple as biology. Testosterone tends to make men overconfident when it comes to managing money. Women, lacking high levels of this hormone, are more levelheaded.
But, women continue to lag behind men when it comes to their own personal finances. Only 37% of women have taken a risk-tolerance assessment and are aware of their conservative, moderate, or aggressive investment strategy, compared to 57% of men, finds Financial Finesse.
Also, only 25% of women rebalance their investment accounts, compared to 49% of men.
As an advisor, it’s your job to get your female clients up to speed.
How do you do this? It’s as simple as listening, says Kathleen Burns Kingsbury, principal, KBK Wealth Connection.
Here is a collection of additional articles to help you help your female clients become smarter investors.
Five hurdles for young female clients
How to help young women clients
Women clients now win after divorce
Women a golden opportunity for advisors