In an interview, Ellevest founder and former bank manager Sallie Krawcheck illustrated in a very admirable manner, why there is such a thing as the infamous Gender Investment Gap in the first place: the entire investment business is designed for men. Not only, because everyone appears to be juggling numbers, statistics, and analytics, no. All of the habitus, like symbolism and language, is clearly mannishly coined. We have the bull and the bear that represent the stock exchange market. Both animals are slightly aggressive, and, what’s more, the bull is also a symbol for brimming virility. Or how Krawcheck’s put it: it’s a phallic symbol. Plain and simple. And if you observe the language at the stock exchanges of the world, you’ll soon come to see that it’s coined by terms of battle, sports, and challenge. These are things that have women shy away from investment topics, rather than attract them. And this is why it is necessary, useful, and yes, better, too, that there are women financial advisors out there, who offer specific financial consulting for women. It’s not about sexism nor a lack of emancipation, but about empowerment and solidarity.
What Women Expect From Financial Advice
Numbers? Promises of returns? Predictions? Of course, women want to know about these, too. However, for women it’s more important to receive precise answers to their mainly very clearly voiced questions. The want to leave the financial consultation knowing more than before. So, it’s not only about mere financial consulting for women. It’s also about conveying basic financial literacy among women.
Women expect to be understood. They want their reality to be acknowledged, their financial situation and insecurity to be recognized. Instead, they’re often bombed with a lingo they don’t understand, and don’t receive responses to their most urgent questions. As a consequence, after such a “consultation”, women often feel overwhelmed, if not even more “stupid” than before, and turn away from their original aim to invest money. Not only our experiences here at FinMarie, but also that of other women financial advisors, show that women get easier involved with trustworthy financial advisors of their own gender.
Female financial consulters know the hardships of a women’s reality: managing job and children, craving for security and flexibility in an investment. They are familiar with these needs, because they’re theirs, too. They know how hard a time women have with topics like finances, investment, and asset allocation, and they can bridge that gap. It’s that intuition and empathy that women expect from trustworthy financial advisors.
Women’s Empirical Values
Just to illustrate more clearly, what we mean when we’re talking about compassion, comprehension, and intuition in terms of financial consulting for women: these are a couple of classic examples from interviews with women on how they perceive classic investment consulting:
- The financial advisor talks and acts down to me, when I crave to understand how exactly an investment strategy works.
- I don’t want to be reduced to my gender and age. And I cannot stand, when someone talks to me, as if I were a child.
- Financial consulters often down to us women, as if we were unable to understand anything more than basic financial topics. To me, this attitude is insulting.
- Being single without children, I feel like financial advisors are not interested in working with me. They seem to prefer people who are planning a family.
- Financial advisers seem to nearly fear a women taking financial decisions. The rather address the man in the room, even if it’s the women who’s asking questions and actually investing.
That’s How Different Men And Women Financial Advisors Are
Men and women have different financial needs, they have different types of access and approaches to money. While men often focus on potential returns, yields, and risks, women have a broader concept of money and finances. Especially, when it comes to making decisions that might affect people and things that are particularly dear to them.
Financial consulting for women is very much about the key issue: will I be financially okay?
Not that men wouldn’t want to know that, too. But they pose their question from a much more tactical position and tend to want to know: Will we have enough money?
Just as much as men and women differ in their approach to finances, money, and investment, do consultations by women financial advisors differ from advisories by men. A woman’s lifeworld is different from a man’s and this very much shapes the way we see and perceive the world. It determines our focusses. Women ask their financial consultant other questions than men, based on their own perspective and reality.
Women financial advisors offering financial consulting for women often manage to better occupy their female clients’ point of view. This makes it easier for them to find apt solutions for their clients. In the first step, women are less interested in the monetary, short-term advantages an investment provides, and more keen to know its characteristics and traits, and the long-term benefits. This explains, just how closely linked financial consulting for women and the promotion of financial literacy among women are. It takes trust, time, and a lingo, women are familiar with.
At FinMarie we master your lingo! Give it a try. A first assessment with our female financial experts is free for you:
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Are Women Financial Advisors Better For You?
If you find, what you’re looking for in a woman, then her gender should, indeed, be decisive for you picking a consultant. Because, potentially, you will feel better off with a finical consultant of your own kind. However, gender should not be your first and only decision criteria.
Neither female investors nor women financial advisors are an unanimous mass and all the same. There is no such thing as a “typically female financial plan”. There are women who are analytic thinkers who love to juggle numbers, and there are men that are well aware of and familiar with what’s typically considered a female point of view on investments.
Here’s Why FinMarie Are Trustworthy Financial Advisors
- We offer a large choice of investment options for short-, middle-, and long-term investment horizons, for bigger and smaller goals.
- Our clients are single working moms with tight budgets, as well as career women with an above average income — we find apt investments for all of them.
- What we offer, is beyond mere financial consulting for women. We place our bet on financial literacy among women, which we share at workshops and events.
- We have a large network of women who have taken on their financial independence with us waiting for you. Benefit from this exchange and their experience.
- Our asset management is focused on you: We’ll keep you updated and informed on re-balancings and stock changes to the amount you want us to
- Our way of working, investment products, and fees are completely transparent. This way, you can access and retrace them at all times.
- At FinMarie we provide you trustworthy financial advisors with years of experience in the banking and investment industry.
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