Women are not a niche market as far as planning goes, and advisors should actively seek to develop and improve relationships with them, according to panelists at a recent Pershing presentation.
Females control roughly two-thirds of annual spending in the U.S., amounting to about $12 trillion, and 80% of women will be solely responsible for household financial decisions at some point in their lives, the panelists said, citing findings from a recent Sullivan Trust Study. Pershing unveiled a new guidebook “Women Are Not a ‘Niche’ Market. They Are a Significant Business Opportunity,” at the event.
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