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3/31/2015
What Women with Money Want
from a Financial Advisor
Ron Carson
Founder & CEO
Carson Wealth Management Group
& Peak Advisor Alliance
COACHING CONTENT COMMUNITY
PEAK ADVISOR ALLIANCE
SPONSORED BY
PEAK ADVISOR ALLIANCE
@PeakAdvisor
QUARTERLY WEBINARS
June 10, 2015 – Creating a Career Path for New Advisors
4:00 p.m. Eastern Time
September 16, 2015 – The Power of Digital Marketing
4:00 p.m. Eastern Time
December 2, 2015 – Goal Setting for 2016
4:00 p.m. Eastern Time
1
3/31/2015
@PeakAdvisor
Excell Spring 2015
Register: www.ExcellMeeting.com
Use Promocode: LPLFRES (Non-Peak Members only)
What Women with Money Want
from a Financial Advisor
Holly Batchelder
Executive Business Coach
COACHING CONTENT COMMUNITY
PEAK ADVISOR ALLIANCE
@PeakAdvisor
WOMEN WITH MONEY
Women control the majority of
wealth in the U.S. and…
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3/31/2015
@PeakAdvisor
WOMEN WITH MONEY
… are estimated to receive 70% of the
$41 trillion in intergenerational wealth
transfers over the next several decades
@PeakAdvisor
WOMEN WITH MONEY
As the U.S.
population grows,
men are becoming a
smaller portion of
the overall
employment pool.
@PeakAdvisor
WOMEN WITH MONEY
As the U.S.
population grows,
men are becoming a
smaller portion of
the overall
employment pool.
Women have
surpassed men
in earning
college degrees
and doctorates.
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3/31/2015
@PeakAdvisor
WOMEN WITH MONEY
As the U.S.
population grows,
men are becoming a
smaller portion of
the overall
employment pool.
Women have
surpassed men
in earning
college degrees
and doctorates.
Women
are earning
more than
ever before.
@PeakAdvisor
WOMEN WITH MONEY
Women are
also earning
more than
their husbands
at an increasing
rate.
@PeakAdvisor
WOMEN WITH MONEY
Women are
also earning
more than
their husbands
at an increasing
rate.
Women
are starting
businesses at
twice the rate
of men.
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3/31/2015
@PeakAdvisor
WOMEN WITH MONEY
Women are
also earning
more than
their husbands
at an increasing
rate.
Women
are starting
businesses at
twice the rate
of men.
More
likely to be
single than a
generation
ago.
@PeakAdvisor
WOMEN WITH MONEY
KNOW YOUR
TARGET MARKET
@PeakAdvisor
WOMEN WITH MONEY
KNOW YOUR
TARGET MARKET
5
3/31/2015
@PeakAdvisor
WOMEN WITH MONEY
KNOW YOUR
TARGET MARKET
Give referrals at
twice the rate
of men
More likely to
maintain &
preserve
relationship
More likely to
weather ups &
downs in
market
Trade stocks
less frequently
Less pricesensitive
WOMEN INVESTORS
@PeakAdvisor
WOMEN WITH MONEY
More than 70% of
women are dissatisfied
with both the product
offering & service level
they receive from their
financial advisor.*
2/3 of women
do not trust
advisors
70% of women
leave their advisor
within a year of
husband’s death
TODAY’S CHALLENGES
*Boston Consulting Group
6
3/31/2015
@PeakAdvisor
WOMEN WITH MONEY
Scientific Evidence
News Flash… men and women’s
brains are wired differently!
These differences affect how we:
•Perceive
•Make decisions
•Communicate
•Relate to others
@PeakAdvisor
WOMEN WITH MONEY
HOW SCIENCE
DRIVES US
Decisions
Process Quickly
Process Completely
Source: Holly Buchanan’s Selling
Financial Services to Women
@PeakAdvisor
WOMEN WITH MONEY
HOW SCIENCE
DRIVES US
PLANNING
IMMEDIATE
LONG TERM
Source: Holly Buchanan’s Selling
Financial Services to Women
7
3/31/2015
@PeakAdvisor
WOMEN WITH MONEY
HOW SCIENCE
DRIVES US
GOALS
GAIN
AVOID PAIN
Source: Holly Buchanan’s Selling
Financial Services to Women
@PeakAdvisor
WOMEN WITH MONEY
HOW SCIENCE
DRIVES US
PEOPLE
HIERARCHY
RELATIONAL
Source: Holly Buchanan’s Selling
Financial Services to Women
@PeakAdvisor
WOMEN WITH MONEY
HOW SCIENCE
DRIVES US
COMMUNICATION
FACTS /
SOLVE PROBLEMS
DETAILS /
SHARE STORIES
Source: Holly Buchanan’s Selling
Financial Services to Women
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3/31/2015
@PeakAdvisor
WOMEN WITH MONEY
SELLING TO A COUPLE
1 Include both spouses
2 Find out their individual goals and concerns
3 Ask how they make important decisions: is it a team approach
or does one of them have final say
4 Equal attention and eye contact
5 Business card to both
@PeakAdvisor
WOMEN WITH MONEY
What Women of Wealth Need
Plenty of time to make decisions
To talk, be heard, and understood
To feel like a partner rather than a recipient of financial advice
Personalized attention/service
A personal connection with their financial advisor
@PeakAdvisor
WOMEN WITH MONEY
What Women of Want
To avoid becoming a burden to their families
To not rely on others
To not outlive their money
To take care of the people she loves
A comprehensive plan
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3/31/2015
Actively Listening –
paraphrase &
empathize
Empowering Her
Sharing a Relatable
Story
Pausing – don’t rush
to solve, don’t
interrupt
Adding 15-30
minutes – just for
listening
Asking questions of
her, even emotional
ones
WOMEN INVESTORS
@PeakAdvisor
WOMEN WITH MONEY
GREAT
QUESTIONS
TO ASK
@PeakAdvisor
WOMEN WITH MONEY
GREAT QUESTIONS TO ASK:
What concerns you the most with
what you’re dealing with right
now?
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3/31/2015
@PeakAdvisor
WOMEN WITH MONEY
GREAT QUESTIONS TO ASK:
It sounds like you’re really (sad,
angry, upset) about that. Could
you tell me more about that?
@PeakAdvisor
WOMEN WITH MONEY
GREAT QUESTIONS TO ASK:
In what ways are you responsible
for your family and extended
family?
@PeakAdvisor
WOMEN WITH MONEY
Attract and Retain with
Educational Events
11
3/31/2015
@PeakAdvisor
WOMEN WITH MONEY
Attract and Retain with
Educational Events
Appeal to women’s concerns:
•
•
•
•
•
•
•
College Funding
Enjoying a Comfortable Retirement
Caring for Aging Parents
Intergenerational Planning
Estate Planning
Financial Mistakes Pre- and Post-divorce
Financial Planning for Female Business
Owners
Gather
testimonials
from your best
female clients
Exclusive event
- successful
business
women
Female
Advisory
Council
Lifestyle
Events luxury
products and
services
Participate in
her charity
events
CONSIDER THESE TIPS
@PeakAdvisor
WOMEN WITH MONEY
TODAY’S CHALLENGES
Selling Financial Services to Women
-Holly Buchanan
How to Give Financial Advice to Women
-Kathleen Burns Kingsbury
12
3/31/2015
@PeakAdvisor
FREE TOOL
What Women Want Slides
1.
2.
3.
4.
Go to: www.peakadvisoralliance.com
Click on Free Tools
Enter the information requested
Enter the CODE: Women
@PeakAdvisor
QUESTIONS
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@PeakAdvisor
Excell Spring 2015
Register: www.ExcellMeeting.com
Use Promocode: LPLFRES (Non-Peak Members only)
13
3/31/2015
@PeakAdvisor
QUARTERLY WEBINARS
June 10, 2015 – Creating a Career Path for New Advisors
4:00 p.m. Eastern Time
September 16, 2015 – The Power of Digital Marketing
4:00 p.m. Eastern Time
December 2, 2015 – Goal Setting for 2016
4:00 p.m. Eastern Time
@PeakAdvisor
FREE TOOL
What Women Want Slides
1.
2.
3.
4.
Go to: www.peakadvisoralliance.com
Click on Free Tools
Enter the information requested
Enter the CODE: Women
@PeakAdvisor
www.peakadvisoralliance.com
[email protected]
(800) 514-9116
14