Women and Wealth: Is Serving Women Different?
Throughout the Wealth Advisor community, we have learned that women are not a niche group. Women have a diverse range of financial needs, due to various factors affecting their lives including caring for aging parents, transitioning between careers or taking breaks to raise children, and an increasing number of women as breadwinners in the family. Additionally, more women are enduring divorce at a later age, putting them at the head of financial responsibilities sometimes for the first time.
The increasing number of women as breadwinners, and women as inheritors requires that financial advice may need to be tailored to account for longer life expectancy, unique risk preferences, financial goals and personal situations.
The Wealth Management Industry is paying close attention to the tremendous growth in the Women’s Market. The nation’s wealth is becoming increasing controlled by more women, and the rise of the breadwinner woman is causing recognizable shifts in our homes and communities.