Women are a growing economic force. They currently control the majority of personal wealth in the U.S. and are projected to receive about 70% of the $41 trillion in intergenerational wealth transfers over the next several decades. As most advisors know, it makes good business sense to learn how to attract and retain these economically powerful female clients.

As a specialist in giving financial advice to women, I focus on what advisors need to do to build trust and foster a good relationship with their female clients - boiling it down to one word whenever possible. As you ponder how you can better serve women and their partners, use the following concepts to give you some fresh ideas.

Celebrate: Send a note, email or text of congratulations for both financial and non-financial victories.

Notice: Be aware of the details - both about a client's presence and about your own offerings. Female clients usually appreciate nuance, so take the time to give them something to notice.

Commit: Pledge to better serve your female clients. Take the time to ask questions about their lives, dreams and goals.

Educate: Women want advisors who can help them learn. Be sure you are not talking down to female clients and prospects; instead, get to know their level of understanding and empower them.

Create: Develop memorable events or experiences for your top female clients to thank them for their business. To meet the next generation, suggest that clients bring their daughters, as well.

Invite: Be sure to ask female married clients to attend all meetings with their spouses. If you're not getting input from both partners, you're missing out.

Mediate: Women in couples sometimes need help settling differences. Take the time to hear both spouses' sides of a story, and let them come to an understanding.

When thinking about your female clients, consider the concepts that resonate with them. These ideas can help you connect better with your female clients in many effective ways.


Kathleen Burns Kingsbury is a wealth psychology expert and founder of KBK Wealth Connection, and author of several books, including How to Give Financial Advice to Women and How to Give Financial Advice to Couples.

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