During the years assistant managing editor
“Do I think women have planning needs that are different than those of men? Sure, they can and often do,” Perkins says. “But every individual has their own specific needs. The idea that advisors could serve millions of women effectively based on ideas surrounding their gender seemed like a pretty significant oversimplification.”
At its worst, shoehorning clients into a gender-based category can lead to bias. Advisors may “start making assumptions that women all react the same way. We just don’t,” advisor Carol Fabbri told Perkins for her story,
To better help clients — women and men — planners should specialize in problems they can solve, Perkins says. “Would you bring value to a woman going through a divorce? What about a woman working multiple jobs to help send her kids to college? What about a woman who is both working a high-powered job and tasked with managing her family’s finances?”
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"Know your audience" is more than a mantra, it's key for planners looking to specialize.
October 25 -
It's expected that digital platforms will help advisors focus their offerings to serve specific client segments.
June 8 -
It all comes down to deciding on how you’re most comfortable marketing to prospective clients.
September 27
Firms should also create environments where all clients feel able to discuss their unique financial needs. Hiring more women and people of diverse backgrounds can help, given that only
Unfortunately, some advisors say they are still marginalized, despite firms’ lip service paid to diversity initiatives. In her piece,
Support means recognizing the individual requirements of clients and advisors. It’s time to look past niches and toward needs.
