I grew up in a family of all boys. In my house, I never felt a distinction between male or female. I competed equally for food at the table or fought for the TV remote without a thought about gender.
This goal is more important than ever. There has been a gradual but tectonic shift of attention toward women and wealth – and that has the investment industry taking notice. Advisors who want to remain relevant and thrive must adapt to this trend by better understanding the expectations of female clients.Kim Thompson, senior vice-president and head of credit union wealth management at Credential Financial Inc., part of Aviso Wealth Inc.
After the transfer of wealth does take place, women are taking a predominantly conservative approach to investing and their financial well-being. According to the Strategic Insight research, women’s priorities when it comes to investments are financial security over prosperity; assured outcomes over investment performance; and a stable income stream.
The Responsible Investment Association published a survey in April of 2016 that found the majority of women investors believe it’s important to consider ESG factors when making an investment decision. Furthermore, women were about twice as likely as men to express uncertainty about RI rather than rule it out altogether. As a result, women polled significantly higher than men in believing that it’s important for their advisors to be knowledgeable about RI-related issues and trends.
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