Partner Cindy Brittain spoke with Citywealth in an article that provides an update on engaging US women in wealth management. While the wealth management industry has struggled to involve the growing number of wealthy females, which now makes up 51 percent of the US personal wealth, according to a BMO Wealth Institute report, Accenture research shows that on the whole, women do not feel confident in their investing ability.
"Women want to hear more from investment advisors," said Cindy. "They want to be more knowledgeable before they make decisions." The problem, she continued, is that advisors use industry lingo they’ve not explained. She warns: "It is not wise to underestimate a surviving spouse's appetite for complexity. A grieving spouse may not be ready, but they are absolutely up to the challenge. Women have moved away from the paternal model."
Read "USA Update: Engaging Women in Wealth Management" in its entirety.