A recent study by Fidelity Investments found that 70% of widows fire their financial advisor within one year of their spouse's death.
Why would so many women dismiss the advisor who worked so diligently for their family, in many cases for years? Because they thought the advisor as condescending toward them. The advisor only held meetings with the spouse. In joint meetings, the advisor only addressed the husband, or made no eye contact with the wife, as if she had no say or interest in the financial security of the family. In short, these widows felt overlooked and undervalued, and they had no trust in the advisor.
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