“By marketing to women, my biggest clients and most lucrative referral sources became men!”
The myth in our industry is, “When you focus on women you alienate the men.”
The truth is, “When you focus on women you inspire more interest and referrals from men.”
This is happening for a progressive group of advisors who truly understand the women’s market -these are the femXadvisors!
Let me give you an example of how this could work for your practice.
Unique Prospecting Script Attracts High-Net-Worth Men
Male Prospect: So what do you do?
femXadvisor: I run an Engaging Wealth Practice for Women.
Male Prospect: What do you mean?
femXadvisor: After 15 years managing wealth I found that most of my referrals were strong capable women who had suddenly become single. They came to me feeling totally overwhelmed, fearful with no idea how their money would provide for them. These women didn’t just need investment advice, they needed to become more engaged, educated, and confident in their ability to make smart financial decisions. That’s when I decided to focus my practice on helping women become more engaged in their financial affairs.
(As you are sharing this message he does not feel pursued by you so his defenses go down his ego perks up and he finds himself thinking about all the women in his life that fit this image.)
femXadvisor: Let me ask you, how involved is your wife when it comes to investing?
Male prospect: Not very but she just shows no interest.
femXadvisor: I get it, the financial industry has done a very poor job of making women feel comfortable asking questions about their money, as a result, they disengage which only exacerbates the problem and sets them up for a crisis. Wouldn’t you like your wife to be more engaged?
Male Prospect: Yes, in fact, you should also speak to my Mom
femXadvisor: Tell me about your Mom?
As a former advisor at Smith Barney in Newport Beach, CA women were my primary focus for my business. It didn’t matter if I was cold calling, networking, or hosting an educational event I never hesitated to share my focus on women even when speaking to men and this strategy paid off in spades. Women were immediately engaged and men became immediately intrigued.
Advisors often ask, “If I focus on women won’t I alienate the men?” and my answer is always the same. . .
When you share your focus on women you will increase your opportunities to attract more men to your practice.
An advisor must understand this about prospecting men:
- The moment a man knows you are not prospecting him, not only does that tweak his ego a bit but it also allows his defenses to lower so that he stays receptive to what you have to say.
- Men want to protect the women in their life so there is a natural tendency to automatically start thinking about those same women in his life and how YOU could help them.
- When your message is clear and authentic your honesty quickly increases the level of trust. Plus your message is remembered far beyond your initial conversation.
“I am taking a totally different approach to my business. This new paradigm is opening new doors and compelling me to do things in ways that I never thought of before.” –Tami McDonald, CFP Vice President at Columbus Bank and Trust Company
“Adri’s training provide you with an abundance of facts and knowledge about working with women building a toolbox full of means and methods to be effective in the women’s market.” –Charles Yost, Independent Wealth Advisor