Part Two of a Three-Part Series

If you have not read my previous blog, “An Overdue Apology to Women”, you might find it helpful because it is applicable to this blog as well.

The first piece focused on how women clients are often discounted in the relationship with the financial advisor.  It resulted in my apologizing on behalf of the industry to anyone who has experienced this type of discriminatory treatment.

While this blog continues on the same theme, the focus is now on the single woman as opposed to a member of a couple.

This includes the population of women who simply choose to remain single as well as those who may be divorced.

Once again, the TIAA study results are both disturbing and startling:

When working with a single woman, only 9% of advisers knew the profession of the client and 10% knew her planned retirement age!  (Source: TIAA Asset Management study, “Get Closer: Solving the Couple Conundrum”, 05/15).

How can this be?

Because many women work in the service sector; examples include health care and education. As such, employees are “assigned a representative” who either makes on-site visits to the work place or is permanently housed on site.

Typically, these representatives are employees of the company offering retirement investments as a part of the employer- sponsored retirement plan.   In other words, their knowledge is often limited to that of their employer’s products.  Additionally, these representatives rarely hold professional designations such as a Certified Financial Planner (CFP®).

Therefore, the focus is “product-centric” as opposed to “people-centric”.  If all I care about is “getting you to sign up for what I am selling”, then I do not need to know your goals, your dreams, and anything much about you at all.  That’s because the relationship is based on my needs as opposed to serving yours.

You deserve better.

If you are seeking someone who will partner with you to design and build a plan that integrates who you are with what you want and what you have, please contact us.

If your values include mutual respect, trust, integrity, hard work, honesty and creativity, call or email us.

If you want to feel heard and understood, let’s share a cup of coffee and a conversation.  You talk, we listen!

Barbara A. Culver
CFP®, ChFC®, CLU, AEP®
Resonate, Inc.
(513) 605-2500