The Surprising Truths We Learned About Gender Differences from Our Female Clients

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

Published by Ron Carson

For more than 25 years, Carson Wealth has relied on a client advisory council for candid feedback on how to better run our firm.

The council is made up of a carefully selected cross-section of our clients—men and women, young and old, professional and retired.

They’ve given us great ideas, but two years ago I became curious, wondering if we would get similar input if we set up advisory councils for groups of clients who we see as integral to the future growth of our firm. With this in mind, we set out to establish two new councils, comprised of female and millennial clients and prospects.

What we learned was invaluable—and surprising.

The Women’s Advisory Council was comprised of eight women with assets under advisement ranging from $1 million to $10 million. A few minutes into our first meeting, it became obvious that these women had notable feedback to share that they might not have if we had not provided the opportunity and platform. Our team focused on gathering as much information as possible about the ideas and concerns this group of women had about our firm’s offerings, culture and communication.

For one thing, even though we’re a team-based company, the participants weren’t thrilled with the way they as clients were communicating with a team. They preferred having a single point of contact and wanted to get to know the person who would be managing their account.

Another concern that hadn’t previously been brought up in our council meetings was the lack knowledge about funeral planning. Some of the women told us they wished they’d had help with planning the funeral of a spouse or loved one, including recommending we create a very specific checklist they are able to complete.

The council also communicated that they wanted a quick tagline they could use when referring people to our firm. Sharing with us that many of their friends and co-workers found the idea of a wealth manager or financial advisor intimidating, we collaborated on referring to these individuals as wealth advisors.

The women spent far more time reviewing the agendas we send before client meetings, wanting to be prepared and ensure they would get the most out of the discussion. Often small details like an agenda are overlooked when trying to put together a client meeting, but it is important to recognize that these small details are important and could make the difference between a great client meeting and a difficult one.

The feedback we received highlighted the importance of being thorough in everything that we do. It is the nuances of a firm’s services that differentiate one from the other. When prepping for client meetings and working with families (even multiple generations), it is important to communicate in a way that resonates with all.

As for the Millennial Advisory Council, those findings were just as intriguing. What has been reported about their generation was a lot different from what we heard them saying. In my next blog, I’ll share some of the surprising comments they made about our firm and the future of the financial services industry. They shook up my perceptions of how best to serve our young adult clients and will probably surprise you, too.

Share:
facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

RECENT POSTS

Teaching Your Kids About History

Published by Paul West Do you remember when your parents forced you to do something you didn’t want to do? Go to a museum; take a long Sunday drive to see where they grew up; etc. It seemed painful then; however, if you could have the chance, wouldn’t you not blink an eye if asked …

The Importance of Portfolio Diversification

The famous stock market axiom, “it’s the bus you don’t see that hits you”, nicely underpins the reasons behind maintaining a diversified portfolio. The stark reality of investing is that there are unknowable landmines. Even though investment managers and analysts spend hundreds of hours sco …

The Roadmap to Student Debt: Saving or Paying your Path to a Successful Future

Once upon a time, I walked into an educational institution wearing cargo shorts and carrying a pen, one hundred dollars and a whole lot of excitement. Four years later, I walked across a stage carrying a diploma, intelligence, confidence and a whole lot of debt. Many people lie in bed each …

How Do I Teach My Teen to Save Money?

Published by Teresa Milner Calling all parents of teenagers – Let’s be proactive and teach our teens to NOT follow the majority of Americans when it comes to saving! We can teach our teenagers to be managers of their money and learn effective money skills. Over 10.4 million people are …
1 2 3 63 64 65 66 67 106 107 108

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation