1. Marketing to Women:
Get it Right!
Rebecca True, President & Sr. Financial Advisor
True Capital Advisors, LLC
2. Planning Differences Between
Women & Men
3. Key Stats
• The female economy is one of the largest on earth!
• 92% of women at some point in their lives will become the primary
decision maker for their household’s wealth. By age 65, the majority of
women are single…
• Women Business Owners are contributing to the fastest growing segment
of the U.S. economy.
• Corporate executive women continue to make strides ‐‐ women comprise
35.4% of all management positions and 22.9% of all senior management
4. Defining the Women’s Niche
• Women are NOT a niche market. But what is the niche?
– Women Business Owners
– Corporate Executive Women in a specific industry
– Women in Transition ‐‐‐ Divorcees, Widows, Sudden Inheritors
• One size fits all does NOT fit women
– Women have a distinct lack of trust when it comes to the financial industry and
advisors. 73% of women are dissatisfied with the industry. They are overlooked,
excluded, receive contradictory poor advice, and get worse deal terms than
*Boston Consulting Group survey 2012
5. Biggest $ Concern for Women
6. Biggest Financial Concerns
Primary Motivations for Financial Planning:
1) Outliving retirement income
2) Becoming a burden to their children
3) Affording long term care
*LPL WomenInvest Whitepaper 2012
7. Women’s Needs ARE Different!
• Women live longer than men, but earn less.
• Women have less for retirement for other reasons, too.
• Women have different insurance needs.
• Women are more insecure about financial matters and tend to
delegate these decisions.
• Women are more receptive to advice because they worry more.
8. What is Common Among Women?
• Longer life expectancies
• Many competing interests for time
• Love their families and prioritize them above all else
• Well informed about their available choices before committing to a solution
• Want their advisor to relate well to them and really listen to their concerns.
• Tend to take less risk with investments
• More focused on reason for the solution not necessarily performance.
• Masters at networking with one another. They refer often.
• Loyalty to their professional advisors – more profitable.
9. How Do Women Want to
11% of American women prefer to work with a female financial adviser.
85% have no gender preference for their investment adviser.*
• Women want to do business with someone that they know and trust.
• Women like to be introduced through a friend or trusted advisor.
• Women like to learn in groups. They are often more collaborative.
• Women like online learning and doing their own research to validate ideas –
relative anonymity while they make up their minds.
*Boston Consulting Group Survey 2012
10. How Do You Meet Women?
• “Fish Where the Fish Are”… Get involved in your community
– Where do niches of wealthy women hang out?
– What activities are they involved in?
– What do you enjoy that they do, too?
• “Birds of a Feather Flock Together”… Be there to meet them‐‐
11. Corporate Executive Women
Corporate Executive Women have little free time.
• Industry specific associations
• Networking groups
• Nonprofit boards
• Small, exclusive financial
topic education events
12. Women Business Owners
Women business owners also have minimal free time
but they make time for volunteering.
• Volunteer and assume leadership roles
within key organizations in community
• Sponsor or jointly market with
• Be creative with cobranded marketing
with other professional advisors
13. Women in Transition
Divorcees / Widows / Inheritors have Free Time
and Emotional Recovery in Progress
• Service Leagues
• Women’s Causes for a Cure
• Ladies Who Lunch
• Social Activity Marketing
14. What Women Want From Advisors
*LPL WomenInvest Whitepaper 2012
15. Best Communication Practices
• Recognize women as equal partners in their relationships
• Be ready to understand what drives women investors
• Talk less and listen more…
• Educate and empower women clients by explaining choices in
clear, simple terms
• Use real life examples showing impact of financial decisions.
Less emphasis on boring charts and graphs!
16. How to be a Referable Advisor to
• Be someone that they know and trust
• Be active listeners
• Holistically solve financial concerns
• Provide regular / frequent meetings and communication
• Support their values
• Offer opportunities to meet other people like them
17. Next Steps
1) Define specifically which type of women you and your practice are
interested and capable of serving.
2) Determine how that type of woman wants to be educated about the
financial matters that matter the most to them.
3) Identify where you can find groups of them + be there!
4) Provide specific solutions for each life stage that addresses their needs
so that they tell their friends.