Kathleen Burns Kingsbury is a wealth psychology expert, founder of KBK Wealth Connection, and author of several books including How to Give Financial Advice to Women and How to Give Financial Advice to Couples. Follow her on Twitter at @KBKSpeaks.
With recent changes in marital laws, more gay couples are seeking the counsel of financial advisors to help them navigate the complex legal and financial landscape that comes with being in a same-sex partnership.
Your clients need help understanding and gaining insight into what makes it so hard to set financial limits with their children before they can curtail or slow down this behavior. Questions aimed at the underlying motivations are much more effective than showing them scary charts and graphs.
Women are a growing economic force. They currently control the majority of wealth in the U.S. and are estimated to receive approximately 70% of the $41 trillion in intergenerational wealth transfers over the next several decades. It makes good business sense to learn how to attract and retain these economically powerful female clients.
Globally, women are more economically powerful than ever before. Kathleen Kingsbury write that, despite this financial influence, many women still struggle to express their personal power in the workplace.
Advising clients financially can be emotional business. A female-friendly advisor knows how to validate clients’ feelings while assisting them in making sound financial decisions. This is not an easy task, however, and a simple technique called the Wise Mind can help.
Many financial service firms are targeting women as their economic power increases. The best way to market your practice to any demographic is by providing high-quality services. However, it is also prudent to have a marketing strategy that speaks to your ideal clients and clearly articulates how these clients can benefit from hiring your firm.