InvestmentNews partnered with Kiplinger’s to ask women about their experiences at different life stages with investing and financial advisers. The survey highlights the varying financial goals women have depending on how they categorize themselves (e.g. breadwinner or single and wealthy).
Women are More Likely to Follow a Budget Than Have Investments
Blackrock’s Global Investor Pulse Survey finds that women tend to be more concerned with spending and budgeting than investing for the long term. Only 22% of women consider themselves to be investors, and women generally admit that they are more disciplined in their approach to saving (65%) than investing (50%).
This AAUW Spring 2016 report offers a commonsense guide to the stubborn gender pay gap in the United States, including the definition of the pay gap and its history, the pay gap in each state, the pay gap by age, race/ethnicity, and education, and resources for fair pay advocates.
Research shows that women bring positive benefits to the bottom line, including improved operational and financial performance, increased innovation, better problem solving, stimulated group performance, and enhanced company reputation.1 This article by Pax World SVP Kathleen McQuiggan offers practical tips for investors, advisors and business executives who want to invest in women and close the gender gap.
InvestmentNews Women Adviser Summits are one-day workshops uniquely designed for female advisers who want to take their personal and professional self to the next level. Join the Pax Ellevate team at an upcoming event! Next up is Boston on July 12, followed by San Francisco on November 10. To learn more visit the event website or contact Kathleen McQuggan.
Practice Management Tips
Host a Focus Group
Ready to strengthen your relationships with female clients? Organize a roundtable discussion with your top female clients where they can discuss their current wealth management needs and priorities. Use Pax World’s simple guide to get started.
Check out what three organizations are doing to invest in women
Brown Brothers Harriman – Center for Women & Wealth
The Center for Women and Wealth (CW&W) is committed to engaging and supporting women as they create and manage wealth. CW&W provides women with investment, planning and philanthropic resources, and aims to cultivate a community where women can share experiences with each other and give advice to new generations of female leaders.
The WISE (Women Inspiring, Supporting and Educating) Group assists women financial advisors in the growth and recognition of their practice. This includes support and assistance to advance the technical skills of women advisors, recruiting and developing new women advisors, and providing insight into the female investor to increase financial planning opportunities for all advisors, regardless of gender.
The CFP Board has instituted a new and exciting mentorship program—WIN-to-WIN—which matches women who are currently on the path to earning certification with experienced CFP® professionals. Not only will you be connected to a CFP® professional who has walked in your shoes, research has shown that CFP® certification candidates who have the support of a mentor to help and guide them along are much more likely to attain the CFP® certification.