Hughes emphasized that women have unique lifestyle differences. On average women live four to six years longer than their male counterparts and frequently find themselves “smack dab in the middle of a sandwich situation, supporting elderly parents while still raising children. Women are the exact demographic that need the assistance of the financial services industry but instead of flocking to females in droves, the industry seems to shy away from this growing demographic because it has been a traditionally male dominated industry. At the same time, many women feel that financial professionals don’t understand our unique needs and often talk down to us. In a study by MetLife, 32 percent of women left their financial advisor because they did not listen to their needs or because they did not trust them. The financial services’ industry cannot continue on this path – the very demographic that has the largest need, wealth and spending power is being marginalized at best and often just plain ignored,” Hughes said.
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