Updated September 26th, 2023
Most financial advisors want to serve affluent women and their partners. To do so, the first step is to learn the insights of working with women.
Today’s women demand more and want an advisor who understands their situation, goals, and dreams. And unlike women of the past, they leave advisors who they feel do not support them.
Termed “The Great Breakup,” Forbes explains how 1 in every 4 women in leading positions consider leaving their jobs because of unequal pay, sexual harassment, or they feel burnt out because of excessive work.
As an advisor, the primary goal is to understand, empathize, and support our clients, regardless of the niche.
This is why knowing how to work with women and their partners is more important than ever.
Today, you will learn the formula that you can apply to achieve success working with women or any niche you desire.
The Success Formula Overview
The first step to achieving success working with women (or any market) is the success formula. Financial advisors and money coaches who create a success formula achieve and sustain long-term results.
Early in my life, I became fascinated with the lives of the affluent. I began researching them to determine the secret of success. I discovered a formula that governs the results we get in business, life, and money.
And I found that everything in life has a formula.
There is a formula for
- Results and another for failure
- Wealth and another for bankruptcy
- Profitable business and another for struggling
As I continued my research, I began to see firsthand the importance of the formula. And it has changed the trajectory of thousands of people’s lives.
Today, you will learn the formula for successfully working with women (actually any market!).
Insight on Working with Women Clients
While some of the insight we are covering today may seem obvious, you must err on the cautious side.
Equality and Opportunity
Most women are concerned with gender equality, equal opportunity for women, gender gaps, and gender bias.
Throughout my career, I have heard many stories relating to these topics.
While your experience may be different from your clients, simply letting them know you care about them, their families, and their situation will increase your odds of working with them. Being sensitive to the treatment women receive in their career or marriage goes a long way to show that you care.
Empathy and Understanding
As a financial advisor, your client must feel that you see them and not just the money they bring to the table. By learning about their journey, challenges, and aspirations, they can see that you truly care about them.
As a male financial planner, you must understand that the experiences of women and men are very different, including how women see the world. There is a reason Men Are from Mars, Women Are from Venus by John Gray became a best-selling book.
Men tend to want to “fix the problem,” whereas some women want to be heard and are not necessarily focused on having their issues solved. This can drive those of us who like to get things resolved, crazy. 🙂
Before selecting women as a niche market, you need to confirm that you can listen and not jump in to solve their challenge.
The largest group of women falls into the combination or traditional category. Empathy and understanding are at the top of their list when selecting an advisor.
Customized Advice
Today’s women want a plan that is customized to their situation. They are busy and need help balancing their career, life, and money.
Working mothers, stay-at-home moms, executives, and business owners all want an advisor who guides them in creating a plan that achieves their goals and makes their lives easier.
You must understand that the experiences of women and men are often very different (This is critical for male advisors.).
Minorities, including women of color, often have different experiences too, so take the time to ask questions and listen if you serve this market.
Click the image to watch today’s episode:
- In this episode, you will learn:The components of a successful business plan
- How to create a winning formula
- The components of a solid foundation
- How to program your mind
- The biggest determinant of your results and success (and the secret to achieving success in your business and life) regardless of your or your client’s work environment
- How to identify your ideal niche market (including something most advisors and financial coaches miss!)
- How to get referrals to female colleagues of your client
- The ideal number of power hours (PPHs) and why working long hours is not the goal
- Why your execution should be combined with your foundation and strategy
- The best type of lead generation to attract affluent clients
- Who to interview for your research (and why it is so critical to your success)
- The three elements you need in a results-driven plan
- Why finding your passion and purpose are so critical to your success
Here is the link to learn more insight on Working with Women and Their Partners, click here.
So there you have it, now it is time to get to work!
Fast Action Takaway
1. Determine your niche market (This is who you want to serve.).
2. Conduct research (This entails meeting them and asking questions so you can attract and work with more of them.).
3. Test and tweak to confirm what you are doing is working. If it is not producing your desired actions, re-evaluate and try something different.
To your success!
Annette