HOW A WOMAN INVESTOR DIFFERS FROM A MAN

That old line about how women are from Venus and men are from Mars seems especially true when it comes to a woman’s approach to investing. For women, money is part of life’s complex mosaic. They want advisors who are good listeners, even confidants.

Many Women Fear Becoming “Bag Lady.”
Many Want Oprah to Advise Them

Even women worth many millions of dollars fear ending up on a street corner with a tin cup, says Dorie Fain of AndWealth in New York. While baring one’s soul isn’t what you expect to happen when a financial advisor meets with a male client, many women want to do just that with an advisor who reminds them of Oprah Winfrey, says Jennifer Hatch of Christopher Street Financial in New York.

More On Women’s Risk Aversion: Women vs. Men: Risk Aversion

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Wives Need to Be More Assertive

When a traditional married couple sees their financial advisor together, the wife often ends up feeling that her financial questions are “dumb,” says Debbie Taylor of Taylor Financial Group in Franklin Lakes, NJ. Debbie goes through the specific steps she takes to financially empower wives.

More On Women Asserting Themselves:  Women & Money: “You Need to Take Control Now”

What Women Should Expect from a Financial Advisor

When Debbie Taylor invites clients to lunch, the invitation may read “For Women Only.” The guests are likely to include wives who need to be able to ask questions they might not in front of their husbands. It’s all part of Debbie’s financial empowering process for women, a process she emphatically says every woman needs.

More On Women Asserting Themselves:  Women & Money: “You Need to Take Control Now”

Naturally More Risk Averse, Women are Better Investors than Men

Being a risk averse investor isn’t necessarily a bad thing, says Eve Kaplan of Kaplan Financial Advisors in Berkeley Heights, NJ. Indeed, because they are more patient and take a longer view, women actually are better investors than men, according to Maura Griffin of Blue Spark Capital Advisors in New York.

More On Women’s Risk Aversion: Women vs. Men: Risk Aversion

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