A lot of financial advisors and financial services firms miss the mark when it comes to their communication and educational efforts targeting women. They make assumptions about women-that they are more emotional, more risk averse, and more likely to engage in a program if it involves something women might like -- like a financial makeover seminar that includes well ... a makeover, complete with lipstick and a fresh coat of mascara. They attempt to play on women's "emotional side" by using scare tactics to get them to act -- talking about a retirement diet of cat food, imagery of bag ladies, or just running out of money. Simply put, they "pinkwash" investing to try to appeal to women. And while this approach works for some, it really misses the mark for most. In much of the work we have done with financial services firms including Invesco Van Kampen, we've found that pinkwashing is the opposite of what most women want. In fact, many women find this approach condescending.

And missing the mark has big consequences. Women are less likely to be financially literate than men, which has a negative impact on their portfolios, their credit scores, and even the amount they pay for their credit cards. But the issue can be easily remedied. Women do want to learn more. And they do want to learn more through educational programs targeted at women -- just not in the way many financial service firms and advisors seem to think. Here are some things we've found that women do want when it comes to financial communication and education:

Don't doll it up, or girl it down. Women are different than men, and they know it. They acknowledge that there are differences in how they approach many situations. But reminding them about these differences with stereotypes and clichés didn't play to their sensibilities or ideas of equality. They felt patronized whenever we used gender-specific examples in our research. No references to kitchens. No analogies to make-up, little black dresses, or Jimmy Choos.

A little less talk, a lot more action. Women want to take an active role in their investing and their finances. And they're looking for communication and education that will help them do that. That means everything should pass the "action-oriented" test. Here's an example. The word "seminar" does not pass the test. Women feel that seminars are boring lectures where they will be preached at. "Workshops" are more exciting. More engaging and interactive. And perceived as much more valuable.  The same is true of brochures versus workbooks. And online tools versus resources.

Appeal to their head not to their hearts. While the source of their financial frustration might be emotional -- the solutions should not be. Most women we spoke with don't want to hear "touchy-feely" examples or engage in "touchy feely" activities. They don't want forums to share their problems.  What they do want is to learn practical solutions. They want strategies and tools they can actually use.  

  Accentuate the positive, eliminate the negative. Positive messages engage. Negative messages repel. They want to hear what is possible and achievable. On the other hand, they tune out once things turn negative. Any time there was mention of doom and gloom situations, or "bag-lady destinies," women either stopped listening or laughed out loud. These women are actively seeking more information because they want to get something right that has been going wrong. Negative examples just enhance the feelings of confusion, concern, or distress that they've brought with them.

Teach a woman to fish ... or invest ...  When we asked women specifically what they wanted to get out an educational program, their top answers were about building a financial education. They want more than just general advice on how to manage their money -- they want to be taught something new. Something that can help them become more confident in their financial knowledge and ultimately do more on their own in the future. Ideally, they are looking for specific examples, tools, and activities help them learn and engage in investing.  

Women aren't asking for much. Just to be communicated with and educated in a way that actually makes sense to them. It's time for financial firms to put away their assumptions and dated notions about women, and focus instead on what women really want.

Lee Carter is a partner with Maslansky, Luntz + Partners, which offers marketing, product development, business development, strategic communications and government relations to companies around the world.