LPL Financial announced the launch Wednesday of WomenInvest, a marketing and practice management platform designed to help advisors more effectively market to and serve female investors at different stages of their lives.
The program arose out of conversations that LPL advisors and executives had starting last year that recognizes the increased earning power of women who invest and culminated in an LPL-sponsored survey of 1,000 mass affluent U.S. investors, both men and women.
One particular finding from that research stood out, said Marissa Fox-Foley (left) of LPL: “Women investors were much more interested in peace of mind” as their goal rather than simply wealth accumulation. Based on that survey’s findings, on insights gained from smaller, more qualitative focus groups, and on the experiences of LPL advisors who have had success serving women, LPL has built a program that provides a range of tools to its advisors on a dedicated website.
Fox-Foley, executive VP of marketing at LPL Financial, said the tools are meant to allow LPL advisors to build on their current levels of customer service by, first, recognizing that a more collaborative approach to providing investment advice and on couples’ decision-making would be appreciated by women and aid in strengthening long-term client relationships, and then to give them “actionable” tools to deliver on that approach throughout four major life stages of female investors.