[pullquote]The percentage of women who control the wealth will continue to increase over the years.[/pullquote]
Most will agree that the financial services industry is a male-dominated world. So it is no surprise that women are less than happy with their current advisors.
When a husband and wife walk into the office to meet with their financial advisor, it used to be a general assumption that the final say on all finances was the husband’s. Now, the times are changing and many women are actually the breadwinners in the household. Yet women are still treated as the lesser equal.
Peter Damisch, coauthor of a Boston Consulting Group study, states, “We heard this sense of subordination time and again in our interviews. The problems that cause women to feel like second-class clients are deep-seated. They stem from experiences in the advisory process as well as the communication style of private banks and relationship managers.”
The percentage of women who control the wealth will continue to increase over the years. If financial advisors are willing to adapt to these changing times, there is no shortage of women looking for an advisor. Women aren’t looking for just female advisors either. Most women are indifferent to gender.
Women are looking for a qualified financial advisor who can provide them with solid investment planning advice. Because women also tend to live longer, they are going need help investing for their future if they survive their spouse.