Two-thirds of women say they don’t trust financial advisors, and a survey recently found that women rank advisors lowest in customer service out of 34 categories, according to the National Underwriter.
What accounts for this state of affairs?
For one thing, the wealth industry was created for men, by men. “At the time, it made sense. In the 1950s, women couldn’t even get their own credit cards,” according to Kathleen Burns Kingsbury.
But things have changed dramatically, and advisors must stop lumping women together, Burns Kingsbury said.
For suggestions on how to better serve women, see Essential skills for advising women | LifeHealthPro.