It’s probably politically incorrect to suggest that women should be treated any differently from men in more or less any circumstance.
Yet when it comes to finance, that is precisely what I suggest needs to happen.
In a recent article for FT Adviser, I was describing my experience of women tending to stick their heads in the sand when it comes to their personal finances.
I also believe that many women are intimidated by the technical jargon often used by financial advisers.
Our female clients are typically concerned with preserving wealth, growing frustrated with the assumption from many advisers that the only rational goal is double-digit investment returns.
In my experience as a Chartered Financial Planner and Chartered Accountant, women are often intimidated by personal finance from an early age, with advisers often failing to understand or address this issue.
Within the article, I was quoted as saying:
“A lot of women have issues about finance, so what they want is to speak with someone who is very down to earth and who speaks with no jargon, yet a lot of advisers do not understand that.
“It is our role as financial planners to understand client needs. A lot of them, particularly women, do not necessarily want double-digit returns. Their main concern is looking after their pot of money, rather than getting it to grow lots.”
So yes, we do treat women differently.
But in practice we treat each client differently, tailoring our services and their delivery to the individual circumstances, goals and objectives of individual clients.
Do get in touch if you would like to find out more.
