Financial Advisors Working With or Marketing to Women

financial advisors who target women Financial advisors marketing to women is becoming more mainstream. Do women want to work with a Financial Advisor? Yes, this is a fact.

Which gender do women prefer working with? A research study by State Street Global Advisors shows that 55% of younger women (25 -34) prefer working with female financial advisors. Baby boomer women, however, do not seem to have as much of a gender preference (no data is available). I think gender is less important than showing women that you understand their needs.

I have been working with financial advisors on marketing since 2004 and I know all too well how important it is to have a target market, a strategy for reaching that target market, and tactics to achieve your goals. Reaching the women’s market takes a little ingenuity and creativity!

Fewer women are financial advisors

In my experience, of the advisor population, only 10-15% are women, although it seems that younger women advisors are coming onboard in to the profession at a greater rate these days.

According to the CFP Board, 23% who hold the credential, are women.

1. So, can male advisors attract women to their practice? Yes, of course. But first you must understand women’s needs and utilize special strategies and tactics in order to be of service.

2. Can women advisors attract women? Yes, very easily. By addressing the issues that are important to women!

Here is a guide to what women are looking for in an advisor and their challenges that keep them awake at night.

Financial Advisors Marketing to Women: Strategies and Resources

In order to market to women, you must understand their hot buttons!

Challenges women face: hot buttons, points of pain

  • Confused about investments and finance issues
  • Live longer than men
  • Intimidated by the financial world
  • May have been talked down to by a previous financial advisor
  • Want to take care of family and loves ones – and therefore take time out of the job market resulting in decreased earnings
  • May have been recently widowed or divorced
  • May have eceived a financial settlement or inheritance

Sample Women services webpage copy writing

  • Are you tired of dealing with your husband’s advisor?
  • Have you taken charge of your financial affairs?
  • Have you been involved in your financial affairs or did you leave it all for your husband to deal with?

Discuss issues such as:

  • Men traditionally take care of the finances
  • Women who are fed up with husband’s advisor
  • Talk about what most advisors are not willing to talk about
  • Women now manage more assets than men

Here’s an example Website Landing Page for attracting women


Challenges women face

Women don’t have the same concerns as men. They are generally not market timers and they value their advisors. They care more about helping their family members and the community. Here are other challenges women face.

What are women thinking?

  • Am I doing the right thing by contacting an advisor?
  • What am I doing for my financial future?
  • Should I take care of others or should I focus on saving for retirement?
  • I want to do what’s best
  • I want guidance

“Women” is a varied Target Market

There are many women target markets. Get into the details and go deeper into the specific demographics of women in your community. Women are no longer ONLY stay at home moms. There are many demographics that show women have varied backgrounds, professions, interests, and needs.

Decide which women demographics you serve:

Independent women, Divorced women, Widowed women, Corporate executive women, women business owners

Women business owners

  • No clear picture of retirement (work part time, sell business)
  • Assets are tied up in the business
  • How do I retire at the right time
  • How do I make sure the market doesn’t force me to retire at the wrong time?
  • Too busy with their business, everything else gets put on the back burner, including retirement
  • Need a sounding board for unbiased business advice

Women with families

  • Too busy with their career and their family to take on their finances
  • Women give to their own detriment = effects long term stability
  • Women live longer than men
  • Women take significant time off to care for children and parents

Women executives

  • Having balance in their personal lives while taking care of others
  • Making the most of their business income to save money on taxes
  • How to deal with issues related to company stock options
  • Helping figure out if saving in their 401k makes sense

Women going through a divorce

  • Challenges women face going through a divorce
  • Economic costs
  • Taking care of children
  • Costs of keeping the family home
  • Dividing assets equally and fairly
  • Knowing where the money is located
  • Never having managed the household finances
  • Communal debt
  • High costs of emotional distress

5 Strategies Financial Advisors Can Use to Target Women Clients

What specifically can you do to position you as THE advisor for women? Here are 5 Strategies Financial Advisors Can Use to Target Women Clients

Sample Women Prospecting Script

Speaking to women about the services you provide requires a different approach than you would normally use with say, a male engineer. Or a Type A Corporate Executive. Since women want to be listened to and heard, developing deep rapport and asking a lot of questions is important.

1. Here’s a Prospecting PROCEDURE for attracting women.

2. Here’s a Prospecting SCRIPT for attracting women.

3. 5 Strategies for Prospecting to Women


More to come…

Hi, I’m Suzanne. I coach financial advisors like you.

I can help YOU!

I have been coaching Financial Advisors and Investment Managers on Prospecting to women clients since 2004! I help you build a professional business where you are attracting women clients. They come to you. You become KNOWN as THE FINANCIAL ADVISOR FOR WOMEN.

Just imagine what you could accomplish!

If I’m offering this wonderful information, imagine what else I could help you achieve! Consider completing the Consultation Form to explore how we may work together.