When it comes to answering the needs of the community, traditional financial services haven’t always given their female customers the attention or care that male investors and clients typically receive. While most financial advisors in Las Vegas focus on men as the sole guardians of a family’s legacy, the simple truth is that women outlive men and, on average, have longer investment horizons as well. Learn why financial planning for women isn’t only important, it could be the cornerstone cementing the stability of your family’s future.
What Women Want: Financial Advice for Women
In 2010 it was found that women in North America control as much as 33% of the continent’s wealth and that they influence much of the rest. Further, another 2013 survey by American Consumer Credit Counseling found that 80% of women in relationships manage the household finances. However, these realities are dissonant with the fact that most women are underserved by the financial services sector.
While women are more likely than men to seek financial and retirement planning advice, they often feel intimidated by financial planning and findings suggest that more than 70% of women seeking financial advice are unhappy with the financial advisors they’ve worked with or the advice they’ve received.
To address this gap, our team of financial advisors works with our clients and within the community to help women access the knowledge they need to feel empowered, confident, and in control of their financial future. Do you know why women should be in charge of your household’s private wealth management strategy?
4 reasons financial planning for women is so important
- According to the Society of Actuaries, an incredible 52% of women between the ages of 75 and 84 are widowed while the same is true for only 17% of men.
- In the field, accountants and financial advisors have reported that women to be better long-term thinkers and less affected by the era of instant gratification.
- In one UC study, female investment groups outperform men because of their gained investment confidence (men traded more and lost more). Some studies also point to high levels of testosterone as a potential culprit in men’s financial underperformance.
- Instead of allowing one spouse to control family finances, financially savvy couples invest in working with the right financial planner to help them tackle money problems together.
Empower Yourself Today with the Knowledge that Will Shape Your Tomorrow
Women’s wealth and longevity are increasing which means that financial planning for women is more important now than ever. Learn more about what your options are for retirement and beyond by RSVPing to our Women, Wealth & Wine Event on February 8, 2018. Space in our classroom is limited so be sure to save your seat today!