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  • 1. Essen%al  Skills  for     Advising  Female  Clients   Kathleen  Burns  Kingsbury     Wealth  Psychology  Expert  &  Author   Twitter: @kbkspeaks
  • 2. The  great  ques7on  that  has  never  been   answered….”what  does  a  woman  want?”   -­‐  Sigmund  Freud,  founder  of  psychoanalysis  
  • 3. The  Economic  Power  of  Women   70%  of  the  $41  trillion  in  intergenera%onal   wealth  transfers  will  go  to  women  1   Female–owned  business  generate  $3  trillion   in  annual  economic  impact  2   4  out  of  10  American  women  are  primary   breadwinners  for  their  families  3   ¹  ”To  the  Contrary:  Hot  Topics:  Women  and  Philanthropy,  Sharing  the  Wealth”,  PBS  Online;  ²  Center  for  Women’s  Business   Research,  2009;  ³  ”Women  of  Wealth:  Why  Does  the  Financial  Services  Industry  S%ll  Not  Hear  Them?,  2011.  
  • 4. Women’s  Buying  Power     80%  of  the  household  buying   decisions  ¹   VETO  Power   80-­‐90%  solely  responsible  for   their  finances  at  some  point  in   their  lives  ²   ¹ Silverstein, M. Kato, K and Tischhauser, P., Women Want More, Boston Consulting Group, 2009. ² ”Wojnar, K. and Meek, C. “Women’s View of Wealth and the Planning Process,” Advisor Perspectives, March 1, 2011.
  • 5. The  Industry’s  Problem     2/3  of  women  don’t  trust  financial  advisors  1               Financial  services  rated  lowest  in  customer   service  out  of  34  categories  2                                                         70%  of  women  fire  the  couple’s  financial  advisor   within  one  year  of  the  death  of  their  spouse  3   ¹  State  Farm  Survey,  2008;  ²  Silverstein,  M.  Kato,  K  and  Tischhauser,  P.,  Women  Want  More,  Boston  Consul%ng  Group,  2009;    ³   ”Wojnar,  K.  and  Meek,  C.  “Women’s  View  of  Wealth  and  the  Planning  Process,”  Advisor  Perspec7ves,  March  1,  2011.  
  • 6. Women  are  NOT  a  Niche  
  • 7. The  Female  Brain   • Neurological  Need  to  Connect   • Greater  verbal  access  to  emo%ons   • Wired  to  see  the  “whole”    
  • 8. The  Male  Brain  
  • 9. Female  Rules  of  Road   • Get  personal  quickly  through  stories   • Use  feeling  &  collabora%ve  words   • Define  success  as  being  “indispensable.”   • Nod  equals  listening,  not  agreement   • Are  LOYAL!  
  • 10. The  Men’s  Handbook   The Real Man’s Handbook Rule #1: Never, ever share this book with women!
  • 11. Essential  Skills  for  Advising  Women  
  • 12. #1:    Listen!  
  • 13. #2:  Build  Trust  
  • 14. Gender  and  Trust   90%  of  married  and  single  women  don’t  have  a   preference  for  the  gender  of  their  advisors*   1  in  4  divorcees  and  widows  feel  strongly  about   the  gender  of  their  advisors*     The  majority  of  women  look  for  good  chemistry   Source: “Women of Wealth: Why Does The Financial Services Industry Still Not Hear Them”, Family Wealth Advisors Council, 2011.
  • 15. Building  &  Maintaining  Trust    Thoughmulness    Reliability    Understandability    Sensi%vity    Transparency  
  • 16. #3:  Balancing  the  Triangle  
  • 17. What  Women  Need  From  You   •  Listen   •  Invite  Her  To  The  Table   •  Don’t  Stereotype     •  Appreciate  Her  Gender  Lens   •  Help  Her  Talk  To  Her  Partner  
  • 18. Thank  You!         Kathleen  Burns  Kingsbury   Founder,  KBK  Wealth  Connec%on     Email:  kbk@kbkwealthconnec%on.com   Phone:  508.297.1212   Twiper:  @kbkspeaks