Male and Female Advisors each bring a unique set of skills to the business, and when the chemistry between partners is a good fit their ability to capture more business can become unstoppable… leading to more referrals, assets and production well beyond the next decade.
The key to a highly productive gender balanced team is understanding your partner’s natural strengths, trusting their judgment, and respecting their perception and point of view. While there are many male advisors who work exceptionally well with women the biological make up of a female advisor can add tremendous value when serving the financial needs of women and future generations.
We know men tend to be more linear with strong warrior (closing) skills, but understanding the natural strengths a woman brings to the table will only enhance your business success.
So what do women have that men don’t?
From an early age female babies become more receptive to feelings, responding more to the facial expressions of others developing that sixth sense or otherwise called “women’s intuition”. While women’s intuition was never considered a viable skill in the traditional business world, in fact it was often considered a weakness, today financial firms are recognizing this intuitive sense in women can be a valuable asset as a financial advisor.
In a business mired in numbers, ratios and tangible results the value women add is often more subtle yet highly effective in retaining more clients, capturing more assets and inspiring referrals. The following key points highlight what I feel are three of the most powerful natural assets that a female advisor can add to enhance relationships, receptivity and business growth.
3 Powerful Women Assets
- Noticing Unspoken Indicators: “Men pick up the subtle signs of sadness or distress in a female face only 40 percent of the time, whereas women can pick up these signs 90% of the time.”
Using their well-honed sensory system a female advisor may be better equipped to pick up on signs as to how the client or prospect is receiving the information. A female advisor may notice unspoken indicators that the woman may be withdrawing, distancing herself or becoming even angry as the presentation proceeds. Trusting her instincts, a female advisor can intercede and possibly re-engage the woman by asking additional questions that bring her back to the table feeling more comfortable and receptive to the desired outcome.
- Ability To Read Between The Lines: “Overall, the female brain is gifted at quickly assessing the thoughts, beliefs and intentions of others based on the smallest of hints. Hints that the male advisor may miss altogether. “
The more traditional linear approach to gathering data can often overshadow the underlying issues important to the woman as a client or prospect. A female advisor can often read between the lines, receptive to nuances in behavior, tone of voice even body language especially with women who are unaccustomed to verbalizing their needs and desires. These that may indicate a bigger priority or underlying concern.
By acting on these conflicted feelings a female advisors natural tendency is to probe further asking deeper more thought provoking questions. This process can often uncover and dislodge valuable information that even the female client or prospect was unable to clarify much less articulate. As a result the woman feels appreciated, respected and valued as her opinions and desires are eloquently brought to the surface and placed on the table for further discussion.
- Desire To Communicate: “Connecting through talking activates the pleasure centers in a woman’s brain creating a surge of Dopamine which stimulate the motivation and pleasure circuits in the brain”
A female advisor naturally understands the importance of communication and making strong connections with a woman or perhaps it’s simply because they have had more practice. Women tend to speak 3 times more than a man or 75,000 words a day vs men who tend to only speak 25,000 words a day. The need and desire to engage in discussions are natural tendencies for both the female advisor and female prospect. Allowing this interaction to take place prior to running through a structured agenda or presentation can create a more positive environment, enhance the relationship building process and setting the stage for a more productive and successful meeting.
The Bottom Line
A gender-blended partnership can have a monumental impact on the future growth of any financial practice but finding the right partner is critical to success.
If attracting and retaining more Female Advisors is important to the future of your firm, checkout my new Keynote presentation: Recruiting Women Made Easy. This keynote focuses on how to develop a more centric business model and strategy designed to appeal to women, inspire immediate interest and gain more traction within the world of female advisors.