Present-day economic worries lead to doubts about the future.
Women investors express concern about the economic and financial market outlook, but many are not taking steps to plan accordingly.
Among women investors:
33%say they don’t have a strategy in place to protect their assets against market risk.
33%say not knowing how much they actually need to retire comfortably is a top retirement concern.
How financial professionals come up short with women investors.
The vast majority of women investors feel respected by their financial professional, but there are areas where financial professionals can do better.
say their financial professional can be condescending when explaining recommendations or responding to questions.
say their financial professional assumes they know less about finances than they actually do.
say their financial professional sometimes “mansplains” concepts to them in a way they don't always appreciate.
Learning from the examples of women financial professionals.
Women financial professionals are responding to the unique needs of women investors by tailoring the guidance they offer to their women clients.
Among women financial professionals:
47%have developed strategies specifically for women going through major life transitions.
44%have studied the unique retirement challenges women face (e.g., longevity, caregiving, wage gaps).
43%have increased their focus on protection and guaranteed income solutions.
Help close the planning gaps with women investors.
While the business of financial advice remains a male-dominated field—most financial professionals are men—many see women clients as key to their future practice growth. But as our survey shows, there’s work to do in order to build trust and confidence among women clients.
As a place to start, focus on building engagement and trust by understanding the different needs of women investors and personalizing your guidance around those needs.
Find resources from Nationwide to help you address the planning needs of women investors.