5 Mistakes Advisors Make Working with Women in Couples
Mistake 1: Not Understanding Her Economic and Decision-Making Power in the Partnership
Mistake 2: Not Including Her in All the Financial Discussions and Decisions
Mistake 3: Misinterpreting Her Silence
Check in and find out what she is thinking and feeling about the information being discussed. It will give you the important information you need so you can either proceed with or revisit a concept.
Mistake 4: Unintentionally Talking Down to Her
Mistake 5: Making Assumptions About Her Based on Gender Only
For example, as a whole, women are less financially literate than men, but individually they have varying degrees of financial know-how. Take the time to check in with her and ask about her level of financial literacy. An easy way to do this is to have each member of the couple rate their financial know-how on a scale from 1 to 5. Keep in mind women tend to underestimate their abilities, whereas men overrate their competence. Use these self-reported ratings to determine how to present information in meetings.