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Women Recognized as Powerful Investors

Physician's Money Digest, July 2007, Volume 14, Issue 7

With the increasing importance of affluent women as a client base, advisors and financial institutions are finding new approaches to attracting women clients. According to Worth, the number of women with assets of at least $3 million increased by 68% in the United States between 1996 and 1998. As this trend grows, women can expect to become the targets of marketing campaigns from financial services firms.

Speaking with several women investors, Worth has discovered that women appear to prefer a different kind of communication style than men. While men focus on increasing their wealth, women are interested in what wealth provides: independence, care for their children, opportunity to provide for others, etc. Women appear to build long-term relationships with advisors and take an interest in the thought process of an advisor’s investment choices.

To accommodate this increasingly empowered client base, Glenmeade Trust provides financial education seminars with topics that include raising financially responsible children. And, Lydian Wealth Management offers a retreat series (wealthandhappiness.com) focusing on nonfinancial issues surrounding wealth.