If you didn’t change and adapt you wouldn’t be here today. In the 80s, we went from stock broker to financial advisor, the 90s from transactional to fee based business. The 2000s combined banking and financial services. The next shift has already started. The question is are you ready?
Women are quickly becoming the most lucrative market for any financial advisor looking to grow their business. They are controlling more wealth and are not happy with their experience in financial services.
Women clients want something more, something different and if you don’t provide it they will find an advisor that does. If you haven’t incorporated a more female friendly practice your future may look rather bleak.
Whether you are a male or female advisor you cannot ignore the facts:
- Women control most of the wealth in our nation;
- Most women are not happy with their advisor and are receptive to making a change;
- Women clients tend to provide more referrals than male clients;
- When provided the value they expect, fees are less of an issue for female clients;
- Women tend to be more coachable and receptive to your ideas and advice.
Today’s woman wants to develop a relationship with her advisor, building trust through communication and mutual connections. They want to be inspired and educated by the advisor before committing to business. And these same women want to be motivated to do what is right for their financial future. This requires a deep understanding of what is important to her and what will drive her to take action.
Not sure where to start? Use my four steps to creating a female friendly practice:
- Develop your personal story that inspires women to actually ask about your business.
- Create a compelling message that gets both men and women to really sit up and listen.
- Design your event/seminar process that becomes a powerful marketing tool and generates a steady stream of referrals.
- Implement a proactive process that female clients, prospects and COIs rave about (and actually makes your life easier)!
Join an upcoming “Keys To The Ladies Room” event to accomplish all four of these steps: Keys to The Ladies Room Events