In the process of analyzing our own business – which included interviewing advisors to find out what can we offer the financial community that would be of the most value, and who are the early adaptors – we found some very interesting dichotomies.
We encounter advisors who have seen the writing on the wall and are eager to learn how to better connect with female clients, and we encounter those who simply see no need to change and will continue doing business as they always have because “women love them.” Usually these advisors base this on the fact that women say very little in the meetings. But it’s precisely their “not talking” that indicates there’s an issue. When women are engaged, they talk – a lot and ask questions and are eager to share their point of view. So we tell these advisors, if that’s not happening, there’s a problem. But truth be told they don’t concern us too much because they’ll likely be displaced sooner rather than later.
The ones we worry about are the advisors who think it’s easy to attract female investors – that all they have to do is slap a few pictures of women on their website or create a “for women” dropdown – they are the ones who confound us. In fact so much so that lately, when facing a large audience of advisors, we are tempted to shout – if you are not 100% committed to understanding women, if you think this is simply about throwing women a few crumbs or pinking your practice – then you may as well leave right now!
Harsh? Maybe but the point that we are making is, “you’re either in or you’re not.” Women can spot a fake a mile away. So make the effort or don’t – it’s your choice – but know this…
When we talk about better connecting with women – it’s about YOU succeeding – it’s not about being politically correct – it’s about how YOU can grow your practice and make more money!
If you are really interested in unlocking the financial power of women – and succeeding in the process, don’t just pink it INVEST(in)HER and/or visit us here.
Related: The Financial Services “Adapt or Perish” Scenario
