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Why Women are Winning (W3) Conference: Part 1
In 2006, six of FSC’s top 10 producing financial advisors were women.
FSC’s first ever Why Women Are Winning (W³) conference, held last summer in Washington D.C., provided its female advisors with a unique forum to discover the incredible financial opportunities awaiting them within the independent advisor sector.
There is a tremendous transfer of wealth to female clients that is currently taking place. In fact, as cited by one conference statistic, women will control 60% of all wealth in the United States by 2010.
The W3 conference spanned numerous topics that FSC’s female advisor community, and you, can capitalize on by tapping into new and emerging market segments and strategies. To support you in these efforts, we have developed a video library featuring invaluable session information that you will be able to access right here through this issue, and future editions, of e-Luminator™. These sessions include:
Women, Power & Money Study
Women have different approaches to money and investing, as well as to what they look for in a financial advisor. They desire less worry, less aggressive investing, more security, more simplicity and easier access to understandable financial information.
Targeting Affluent Women
Today, women earn more than $1 trillion annually, and represent more than 40% of all wealthy Americans. Succeeding in the affluent women’s market demands a unique approach.
Challenges of Yesterday, Opportunities for Tomorrow
Three top FSC female advisors shared their entrepreneurial experiences of identifying and removing obstacles, capitalizing on opportunities, and planning for the future as both advisors and business owners.
How to Build an Effective Team
Two high-performing FSC female advisors discussed best practices on team structures, compensation and hiring practices, the power of delegation and mistakes to avoid in interacting with employees.
Obstacles Women Face in Transferring Relationships and Succession Strategies
The financial services industry has realized that women bring a different dimension to client relationships. While these traits can serve as advantages to female advisors as they build their practices, they can also prove to be the opposite when it applies to extracting their business value.
Working With Widows More Effectively
The average age of widowhood is 56 years, but not all widows are the same. Each faces different challenges based on their age, family relationships, financial status and knowledge of financial services. One thing they do have in common, however, is dealing with the trauma of losing their spouse.
Alexandra Armstrong, of Armstrong, Fleming & Moore in Washington, D.C. is one of FSC’s top producing financial advisors. Her presentation, Working With Widows More Effectively, provided unique insights into the prospecting for and servicing of widows, a rapidly expanding segment of society as the gap between male and female life expectancy continues to widen.
In her presentation, Armstrong noted a number of factors that strongly influence how you, as a financial advisor, should interact with widows as clients. These factors include:
• Age
• Cause of their spouse’s death
• Dependents
• Volume and type of assets
• Knowledge of financial planning
Click here to view video or download audio clips of Ms. Armstrong’s presentation
In the next edition of e-Luminator™, conference video clips from the fascinating Women, Money & Power study will be available for viewing.