Affluent women live complicated, busy, and stressful lives. They are major economic players and will continue to be in the coming decades. These women are changing the landscape at work and at home. They are inheritors, wealth creators, and often both. They represent a challenge for traditional, transaction-oriented financial advisors and are now speaking up more than ever about their dissatisfaction with how the financial industry perceives them.
While affluent women present a unique challenge to you as the advisor, they also represent a big opportunity as well. Over the next several decades women will inherit approximately $28.7 trillion in assets as a result of intergenerational wealth transfers. Others will accumulate wealth through their own professional and business accomplishments. In fact, women-owned businesses are growing at twice the national rate and account for 40 percent of privately held entities. Women also make approximately 80 percent of family household buying decisions, including those related to banking and financial services.
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