Fidelity’s new survey of 3,200 donors highlights the different ways Millennial and Baby Boomer women approach philanthropy. Key findings include:
EY reports that women represent a huge opportunity for the wealth management industry – yet most wealth managers still view gender segmentation as being of minor importance.
Read their full report to learn how to overcome “experience gaps” and build stronger relationships with female investors.
RBC Wealth Management surveyed 3,105 individuals in Canada, the U.K. and the U.S. and found that, in general, people are uncomfortable talking about inheritance, and when they do, their conversations are limited in scope.
This report offers valuable insights into the very real challenges and significant opportunities of wealth transfer across generations.
Speaker, Author & Coach, Barbara Kay Coaching
As a business psychology and productivity coach, Barbara serves clients through coaching, consulting and speaking on: growth, productivity, teams, client relationships, communication, change and leadership. Her company, Barbara Kay Coaching, supports client diversity goals as a Woman Business Enterprise and Certified Diversified Supplier.
All my clients are in financial services. I personally coach financial professionals, teams and leaders on their goals – and I also speak and consult for financial services organizations. Like a sports psychologist helps good athletes be great, I help organizations and individuals achieve even greater success.
I coach professionals from the East Coast to Alaska, across all channels. Everyone wants to grow, connect well with clients & prospects, run a smooth operation and build a great team. While the particulars are unique, the themes are universal. For organizational development, one current project I’m working on is with a leadership team using assessments, team training and individual coaching to advance their leadership skills. I also recently delivered a keynote for a national conference on maximizing strengths for peak performance. I’m lucky to work with a wide range of clients on important achievement topics.
The $14 Trillion Woman is my second book (the first was on thriving in change). I wrote it because I saw a big gap between women and my financial services clients, both advisors and organizations. The whole industry was missing an opportunity to connect successfully with women. It was the first book in the country written on this topic, and I think the topic is even more important now. Today, women control more than $14 trillion in wealth and are more involved in financial matters. We have an even greater opportunity to connect and serve women well.
It’s all about the relationship. Ask open-ended questions, listen well and focus on building their trust. Everything else will follow. The initial time investment may be greater, but once they trust you, they’ll be fabulous clients and great advocates for you.
We’re in a huge period of change. Whatever happens with the DOL, there is no going back to the old days. Investors will expect transparency, a fiduciary standard of care and high service for their fee dollars. That’s good news for women, who enjoy building relationships and delivering great service. Happily, advisor compensation is also shifting away from the “eat what you kill” paradigm. This is also good news for women. It’s the best time in history for women to be financial professionals!