Women City

One Size Does Not Fit All Women

By SiliconIndia   |   Tuesday, February 7, 2012
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Bangalore: The first round of results of its inaugural study of; high net worth women across the country entitled "Women of Wealth: Why Does the Financial Services Industry Still Not Hear Them?" was announced by Family Wealth Advisors Council (FWAC), a national network of independent, fee-only wealth management firms.
For the study the beliefs and perspectives of 551 women with net value of $1 million and higher considering the statistical differences a cross four certain criteria’s like marital status, employment status, age and net worth. The study tracks the views of different women across the United States in different situations playing different roles and is one of the largest studies of affluent women on record.
The results of the study showed 86 percent of working women felt that their worn out earning power is the biggest risk to their financial services. Majority of successful women executives plan a career change within next few years. 57 percent of married women considered divorce as a significant risk to their financial future and rest posed health challenges to have a greater risk to their financial security than the death of a spouse. 96 percent of women want their financial adviser to understand the portrait of their entire life. 81 percent of retired women and 45 percent of full-time working women felt slowdown in economy as a major risk.
Heather Ettinger, FWAC member and co-author of the study quoted "Most of the industry continues to lump women together without taking the care to understand individual women and their personal financial journeys, and this is the primary reason for women" overall dissatisfaction with our industry.

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