Crucial tips for women’s wealth management from leading financial planners.
Wealth management is steeped in the conventions of an age when the patriarch took care of everything and got his best investment tips while golfing with his (male) bankers. As recently as 2016, the Boston Consulting Group conducted a survey of wealth managers in which only 2 percent said they considered women to be a specific client segment and had adapted their services accordingly.
Yet the same study found that women hold more than 30 percent of all global private wealth, and their wealth is expected to grow by about 7 percent annually over the next several years. Memo to wealth managers: Neglect female clients at your peril. A number of firms are, in fact, starting to recognize that if they don’t make their financial services appealing to women, they will lose out on having some of the world’s movers and shakers as clients.
www.robbreport.com
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