By 2020, women are expected to command more than £58 trillion in wealth globally, and financial advisers who lack a strategy to serve women effectively are likely to fall behind, writes Julia Rees. Here, she explains the three main reasons why women are key clients …
Female clients can improve the AUM and revenue outlook for a financial adviser's business and firms must work hard to harness the power and potential of this crucial client group. Retention Retaining a woman's business when she inherits money managed on behalf of existing clients can have a significant impact on the bottom line. We set out to quantify this impact using our proprietary financial adviser business outlook engine. We calculated that retaining just one more of every 5 heirs when clients pass away results in a 5% revenue boost for a typical UK adviser. Note that this 5...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
