Women are a great market for financial advisors. Half the population lacks a Y chromosome and women outlive men statistically, so they need financial advice. A recent Hartford Financial Services Group survey uncovered the top three concerns women have when it comes to their finances in retirement — not having enough to do isn’t on the list.
Women worry about inflation and how it will affect their purchasing power, to the tune of 83 percent of those surveyed. Females also worry about their health declining, which causes them to worry about the rising cost of health care. Finally, women fret about longevity, which has consequences toward the other two concerns.
Marketing that addresses these concerns and points to solutions will be effective and welcome. Advisors who haven’t developed a marketing campaign aimed at women might want to think about doing just that.