Finally, in order to foster successful relationships with your female clients you first must build your confidence as a financial professional working with women. Yes, there are differences, key differences in how men and women work with financial professionals, but the more comfortable you are working with women, the more confident you will be in your interactions with females and couples and the subsequent advice you give.
Traditionally, women see themselves as savers rather than investors, but it is important to avoid the one-size fits all approach as it relates to your female clients. When surveyed, women often view money as a source of freedom and empowerment that allows her to accomplish her retirement goals such as giving back, starting a business or helping her children financially (Prudential Study, 2013).
When men meet with their financial professional, traditionally they want to get down to the business of business -- numbers, returns and performance. In comparison, women are more about the business of life and want to speak in terms of how her financial plan can help her live out her life goals.
You can also build your confidence in your interactions with female clients and couples by asking a trusted female client or colleague how you are doing. Garner their feedback and ask what recommendations they might have to make your message and relationship skills resonate with female clients. Oftentimes, it as simple as asking for feedback.
Always remember that female clients want your help. They have investable assets and an unprecedented need for your services. So, relax and remember to begin by identifying what works, then tailor your style to meet her individual needs and preferences and lastly, don’t overcomplicate the process!
Ann Hughes is the founder and president of The Female Affect, which helps firms improve business by focusing on women. The Female Affect offers public speaking and consulting services to male and female financial professionals and financial service organizations across the country. Follow Hughes on Twitter @TheFemaleAffect or visit her website thefemaleaffect.com.