Relationship
Building
Trust
Team Engagement
Growth and Retention
clarifying needs
Active Listening
Maximizing a Major Opportunity:
Engaging Female Clients
A Guide to Client Engagement
education
Key Contributor
Kathleen Burns Kingsbury, Founder, KBK Wealth Connection
As a wealth psychology expert and behavioral change specialist, Kingsbury teaches
financial services professionals how to connect, communicate, and collaborate more
effectively with their clients to increase client retention and improve profitability.
Featured Advisors
Liz Niehaus, CFP®, Manager, Truepoint Inc.
At the helm of Truepoint’s “Women’s Wealth Counsel,” Niehaus is a seasoned
professional who specializes in financial planning and investment management.
Jane Williams, Founder and CEO, Sand Hill Global Advisors
With more than 37 years of experience in the investment field, Williams is recognized
as an expert for her work with individuals — ​­particularly women — ​­and couples in
financial transition.
Table of Contents
step
1
step
2
step
3
Are You Ready fo r the Wealth S hift? 4
Adapting to Meet the Opportunity
5
Helping You Engage Female Clients 6
Getting Started
6
Deter mining You r At-Risk A ssets
7
Review Your Current Book of Business
8
See the Gender Differences — ​­and Build on Them
9
TAK ING Action to Better S ERV E F emale Clients
13
Consider Four Strategies
14
Case Study: Truepoint’s Forum for Female Clients
18
Str ategically Preparing You r Practice
19
Set Your Goals
20
Engage Your Team
21
Summary
22
Append ix 23
1. Determining Your At-Risk Assets
24
Worksheet A: Assess Your Female Client Base
24
Worksheet B: Analyze the Results
25
Worksheet C: Look for Trends in Your Findings
26
Worksheet D: Assess Your Approach for Engaging Female Clients
27
2. Taking Action to Better Serve Female Clients
29
Worksheet E: Prepare for Your Sales Meeting
29
Worksheet F: R
eview Your Results and Refine Your Approach for
Future Sales Meetings 31
Worksheet G: Prepare for Your Financial Planning Meeting
32
Worksheet H: Review Your Results and Refine Your Approach
for Future Financial Planning Meetings
34
Worksheet I: Ask Clarifying Questions to Uncover Needs and Build Trust
35
Worksheet J: Develop a Plan for Client Education
36
3. Strategically Preparing Your Practice
38
Worksheet K: Set Practice Goals
38
Worksheet L: Engage Your Team
39
Are You Ready for the Wealth Shift?
When looking to retain and strengthen client relationships, as well as
identifying the next growth opportunity, financial advisors have learned a
simple and powerful lesson: Pay close attention to demographics and align
yourself accordingly. A notable example is the heightened focus in the last
decade on the baby boomer generation and addressing their retirement needs.
Now, another powerful shift is transforming the population before our eyes
and presenting an immediate opportunity for you and your practice. Today
and in the years to come, one of your biggest opportunities to strengthen and
grow client relationships may come from a sharpened focus on a historically
underserved segment of the population: women.
Consider the following facts:
•Women control more wealth than they used to. Women control $11.2 trillion, or 39%, of the nation’s investible
assets as decision makers.1
•Women outlive men. Women, on average, are living six years longer than men. That means that, for all your
married clients, chances are you will someday have a single individual as a client: the wife.2
•Women outnumber men as graduates. Women account for 57% of bachelor’s, 60% of master’s, and 52%
of doctoral degrees today.3
•Women are growing as breadwinners. Nearly 50 percent of women out-earn their spouse as the primary
breadwinner in the household.4
• Women lead household purchases. 75% of women say that they feel responsible for day-to-day household spending.5
While these trends may compel you to intensify your focus on female clients for retention efforts and as a driver
of immediate and long-term growth, your beliefs and habits may get in the way. Specifically, the long-held notion
of males as the primary decision makers has shaped the way financial advisors market their services, talk with
clients, and deliver solutions. These habits have been ingrained over decades. Capitalizing on the opportunity to
focus on female clients may require that you break with some habits of the past. Norman Doidge, M.D., in his 2007
international best-seller, The Brain That Changes Itself, explains, “Unlearning is often a lot harder than learning.” His
views imply that those financial advisors who make a commitment to improving how they serve female clients, and
successfully navigate this new path forward with repeated and sustained actions, stand to reap benefits for years
to come.
5
Adapting to Meet the Opportunity
Women don’t have a preference for working with a male or female advisor.6 It was found that 86% of women said that
they were comfortable working with either gender as a financial advisor.7 This lack of preference provides all the more
reason for you to consider changing your approach and style accordingly to meet the evolving female demographic.
Depending on your current approach, this may mean a big shift — ​­or it could simply mean minor adjustments. The
right approach for you could include one or a combination of techniques:
•Developing and refining your personal skill set to meet the unique needs of female clients
•Building stronger connections with centers of influence who can offer valuable referrals to women who are
Liz Skinner, “Female Clients’ Unique Approach to Investing,” Investmentnews.com, August 17, 2014.
“ World Health Statistics 2014,” World Health Organization, May 15, 2014.
3
NCES, Digest for Education Statistics, 2013.
4
Wendy Wang, Kim Parker, and Paul Taylor, “Breadwinner Moms,” Pew Research Center, May 29, 2013.
5
Maddy Perkins, “Biggest Single Myth About Female Clients,” Financial Planning magazine, March 14, 2015.
6
“Women of Wealth: Why Does the Financial Services Industry Still Not Hear Them?” Heather Ettinger and Eileen O’Connor, Family
Wealth Advisors Council, 2011.
7
Maddy Perkins, “Biggest Single Myth About Female Clients,” Financial Planning magazine, March 14, 2015.
1
2
A r e Yo u R e a d y fo r th e W e alth Sh ift?
becoming financial decision makers for the first time
•Adding specific services to meet the unique needs of executive women, who often seek an advisor who can act as a
single point of contact for investing, planning, and other needs, such as concierge services
•Adding staff with specific skills or networks that are exclusive to women
Helping You Engage Female Clients
To help you identify and implement the right solutions and approach for your business, Fidelity Investments
offers you this guide, which delivers actionable exercises, tools, and ideas for attracting and retaining high-net-worth
female clients.
Whether these women come to you individually or as members of a couple, you will learn to thoughtfully and
effectively meet their needs to stay ahead of the competition and grow your business.
Keep in mind, as you review this material, that many of the observations are generalizations — ​­all women are not alike.
We suggest you consider using the exercises and strategies that are specific to the unique needs of your client base.
Getting Started
Engaging female clients requires time, effort, and a commitment by you and your entire practice to ultimately
generate results. In this guide, we will walk you through a three-step process to define an action plan for you to better
meet the needs of women.
STEP 1:
Determining Your
At-Risk Assets
• Helps
you better understand
total assets and specific client
relationships that could be at risk
STEP 2:
taking action
to better serve
female clients
rovides
•P
ways to consider
beginning the process of
effectively engaging female clients
STEP 3:
Str ategically
Preparing Your Team
• Offers
strategies to help your
practice organize and plan for
long-term success
• Helps
A r e Yo u R e a d y fo r th e W e alth Sh ift?
you see the differences in
how men and women think and
communicate
6
step
1
Determining Your At-Risk Assets
If you haven’t fully engaged your female clients, their business may be at
risk. The risk is especially heightened when working with married couples.
On average, women live six years longer than men, turning many of your
married clients into single female clients.8 Additionally, divorce rates in the
United States remain high — ​­especially for couples who are in a second or third
marriage — ​­raising the possibility of female clients changing advisors.
8
“ World Health Statistics 2014,” World Health Organization, May 15, 2014.
Review Your Current Book of Business
As you’ve built your financial advisory practice, you’ve gained a keen understanding that your approach and solutions
must be tailored to the unique situation of each client, accounting for net worth, income, goals, and other vital
factors. Simply put, there is no one-size-fits-all solution.
Yet in our world of financial customization, one critical attribute often goes unfactored: gender. This is a​­ major oversight.
When evaluating whether your female clients are fully involved in the relationship with your practice, consider the
following questions:
•For married couples
–Do both the husband and wife attend your meetings and jointly participate in important conference calls?
–Does the wife ask meaningful questions in your discussions with the couple?
–Do you have as equally strong a rapport with the wife as you do with the husband?
•For unmarried female clients
–Do they contribute ideas and insights to the planning process?
–Do they ask insightful questions during meetings?
–Do they readily respond to your requests to speak or meet?
8
–Do you have a strong rapport with them?
–Do they readily share information with you?
If the answer is “yes” to these questions, then these women may be considered engaged.
Ste p 1 : De te r m ini ng Y o ur At-R is k A ss e ts
If the answer is “no,” then the assets tied to this relationship may be at risk.
See the Gender Differences — ​­and Build on Them
Before you can begin tailoring your approach to working
with women, you first need to understand the attributes that
make them uniquely different from male clients. According
to Kathleen Burns Kingsbury, author of a definitive book on
female clients, How to Give Financial Advice to Women: Attracting
and Retaining High-Net-Worth Female Clients, there are five
key differences in how women and men communicate, relate
interpersonally, learn, are hardwired, and view wealth.
“To effectively serve women, you have to sincerely want to understand their needs. They are
smart and principled, and often have very clear
priorities. Women will sniff out a FAKER; they
know if you are really listening and hearing
their concerns.”
—Jane Williams, Sand Hill Global Advisors
Gender Differences
Inclusive
Collaborative
Groups/
Discussions
Connection
Security
Communication
Interpersonal
Learning
Neuroscience
Wealth
Female
KEY AREA
9
Hierarchical
Competitive
Independent/
By Doing
Individualization
Success
Male
Ste p 1 : De te r m ini ng Y o ur At-R is k A ss e ts
Source: How to Give Financial Advice to Women: Attracting and Retaining High-Net-Worth Female Clients, by Kathleen Burns Kingsbury,
The McGraw-Hill Companies, 2012. Reproduced with permission.
Let’s take a closer look at these gender differences identified by Kingsbury, and ways in which you may adjust your
approach with women.
Diffe r ences 1 an d 2 : C omm u nication an d I nte r pe r sonal P r efe r ences
How Men Typically Approach This
Men communicate in a hierarchical fashion with the goal of establishing who is the top dog or expert. Because men
tend to relate in a competitive way, one-upping the other person is common practice. This type of communication
and interpersonal style may be seen in medicine, financial services, and other male-dominated industries.
How Women May Differ
Women tend to prefer to communicate in an inclusive style with a goal of collaboration. Often, when two women sit
down, they may subconsciously identify how they are similar instead of who is more proficient on a topic.
How to Adjust
Think back to the last time you met with a male prospect. Chances are he may have wanted to know about your past
performance record and how you could use your skills to help him beat the market. Perhaps he was looking for an
expert to give him information and insights so he could make the best investment decisions possible and compete.
Now, compare this to a first meeting with a female prospect. While she also may have looked for a highly competent
and knowledgeable advisor who could help her achieve a good return on investment, she may have sought more.
Women typically want an advisor who is a good listener, who understands her unique financial concerns, and who
10
is willing to coach her over time. In the initial meeting, she is evaluating if you are similar enough to her for you to
really understand her needs. Women want an advisor who is a team player, not one who is the captain of the ship.
They want advisors who have expertise, but use it to collaborate and achieve positive outcomes together.
Diffe r ence 3 : L ea r ning an d Decision - M aking S tyle
How Men Typically Approach This
Men learn independently and typically like to try things out right away. A male client will typically listen to your
How Women May Differ
Women tend to prefer to learn in groups, where they can discuss their options with individuals they trust. The
process of verbalizing the advantages and disadvantages of a particular financial investment or decision is helpful for
women in a way that is not usually true for men. This process takes time and could encompass multiple conversations
with female prospects and clients, since they are typically slower to make any type of financial decision.
How to Adjust
While a woman’s slower decision-making style may frustrate you, it is important to remember that, in the end, she
is likely to better weather the ups and downs of market conditions. When the market fluctuates, women are adept at
keeping their eyes on the long-term goal, allowing them to tolerate volatility. Men tend to chase returns and overreact
to movements in the marketplace, causing them to have lower profitability in the long run.9
Ste p 1 : De te r m ini ng Y o ur At-R is k A ss e ts
recommendation, and, if your case appears sound, he will likely agree to move forward and see what happens.
Diffe r ence 4 : N e u r oscience
How Men Typically Approach This
Advances in neuroscience offer further explanation for why gender differences exist in our clients. In the national bestselling book The Female Brain, Louann Brizendine, M.D., states, “Girls arrive already wired as girls, and boys arrive
already wired as boys. Their brains are different by the time they’re born, and their brains are what drive their impulses,
values, and their very reality.”
According to Brizendine, the male brain is hardwired for individualism and is able to compartmentalize and separate
emotions from logic and facts.
How Women May Differ
Brizendine notes that the female brain is hardwired for connection and better equipped to access and discuss feeling
states. A woman is more likely than a man to notice and remember details.
How to Adjust
While your job is not to become a brain scientist, it may be helpful for you to understand how this research can assist
you in responsibly, thoughtfully, and effectively advising women. Women want financial advisors who are willing to
engage in authentic, ongoing relationships. They want to discuss their feelings about money and wealth. And they
want professionals who notice the details of their lives and follow up after each client meeting in a thoughtful way.
11
A male client might appreciate an advisor who follows up after a meeting to thank him for his time and consideration,
but it’s not a showstopper if he does not receive that follow-up. However, a financial advisor who fails to follow up
9
ahira K. Hira and Cäzilia Loibl, “Examining the Investment Behavior of High Income Women in America,”
T
Iowa State University Center for Survey Statistics and Methodology, 2006.
Ste p 1 : De te r m ini ng Y o ur At-R is k A ss e ts
with a female client in this manner could risk damaging the relationship.
Diffe r ence 5 : Attit u d es T owa r d W ealth
How Men Typically Approach This
Men tend to view wealth as a way of making more money and achieving a certain level of success.
How Women May Differ
Women view wealth in the context of relationships and use their money to take care of those they love. Many more
women than men invest with these values in mind. In comparison to male clients, more females are interested in
socially responsible investing.10
How to Adjust
Neither definition of wealth is right or wrong, but they are distinctly different. Consider factoring these variances into
how you talk to women about money and investments, making sure you always tie it back to their real-life personal
and family goals. At the end of every conversation, whether with a prospect or an actual client, your goal should be to
have female clients feel 100% confident in your ability to help them achieve their goals and feel secure.
Put these insights into action
Determine whether any of your assets under management are at risk. Complete Worksheets A
12
and B in the Appendix.
Identify where you have the greatest opportunity to improve how you work with women in
various life stages. Complete Worksheet C in the Appendix.
Assess your approach for engaging female clients. Consider the ways in which you currently
conduct financial planning, communicate with clients, and conduct business development and
marketing activities. Complete Worksheet D in the Appendix.
Periodically conduct client surveys. Consider surveying your clients on a regular basis, and
encourage both members of each couple to participate. In addition to identifying trends
female clients.
Center for Talent Innovation, “Harnessing the Power of the Purse: Female Investors and Global Opportunities
for Growth,” 2014.
10
Ste p 1 : De te r m ini ng Y o ur At-R is k A ss e ts
among your entire client base, seek to understand specific needs and concerns expressed by
step
2
Taking Action to Better Serve Female Clients
Now that you have a better understanding of the risks and opportunities
among your female client base, consider how your engagement strategies align
with how many female clients think and communicate. In the following pages,
we provide you with some additional insights on working with female clients,
along with strategies to consider in order to better meet their needs.
Consider Four Strategies
1. Implement a disciplined and repeatable approach to sales and planning that targets
women’s needs.
Whether you are working with a potential client or a long-standing one, it’s important to recognize the unique
needs of women.
Any disciplined approach should be easily repeatable across your client base and easily used by other financial
advisors in your practice. Your approach should encompass all phases of the process:
•Pre-meeting activities
•Strategies and questions to ask during client meetings
•Post-meeting activities
Consider enhancing your prospect and client interactions in these ways:
•Give women time. Make sure to allow your female client or prospect enough time and information to make
important decisions. She will want to have time to process everything, and will feel stressed — ​­and ultimately
unable to make a decision — ​­if she feels that she is missing crucial information.
• Give women multiple perspectives. Female clients and prospects will want input from different people and perspectives
when contemplating a big decision. Use narrative cases to illustrate how you’ve helped other clients like her,
14
demonstrating outcomes with other clients and centers of influence. Be sure to include these on your website and in
your first-meeting package.
•Give women proper attention. Your female client or prospect may likely value a financial advisor who pays
attention to the details, demonstrating that you truly care about her unique needs. Be sure to understand her
family dynamics, including the names of children, close siblings, and other people who are important to her.
•Give women the chance to talk. In all your conversations, ask open-ended questions. Give her the chance to open
up. Make sure, however, that your open-ended questions remain part of a defined process. Remember that you are
the advisor, and she’s looking to you to lead her through the process of discovery.
•Give women straight talk. In verbal communication, limit the use of jargon and “Wall Street speak.” Don’t talk
down to your clients, but use regular English and descriptive sentences to get your point across. Avoid acronyms.
Step 2: TAKING ACTION to better ser ve female clients
Keep track of her details and ask about these people and issues when you talk to her again.
2. Use multiple listening techniques to build credibility and uncover needs.
Make effective listening a priority of your job.
According to business guru Thomas Peters, co-author of In Search of Excellence, an obsession with listening is essential
to professional services experts — ​­and is the ultimate mark of respect.
Your goal when working with female clients is to listen more and talk less. Doing so will help you better
understand their needs and give them a forum to ask meaningful questions so that they can make good decisions
about their wealth and their future. The better you listen, the more likely they are to perceive you as a competent
and credible resource who can help them achieve their goals with confidence.11
With female clients, you should recommend solutions only after you’ve demonstrated that you understand their
situation through proper listening. Here are several approaches to try:
•Listen for understanding. Practice listening for understanding, otherwise referred to as active listening. During the
conversation, summarize and repeat back what you think you are hearing: “So what I’m understanding from this
conversation is…” or “What I’m hearing you say is….” This technique can help you clarify what you hear, confirm
the understanding of both parties, and demonstrate sincerity.
•Focus on relationship-building questions. Do your conversations with clients focus mostly on relationship
building or fact finding? Consider incorporating more relationship-building questions into your conversations to
create greater trust and to foster a deeper conversation.
15
Fact-Finding vs. Relationship-Building Questions
Sample fact-finding questions
Sample relationship-building questions
•Do you own a vacation home?
•Do you own a vacation home, and, if yes, where and why there?
How do you and your family use it?
• Are your parents alive?
•How many siblings do you have?
• What are your greatest hopes for your children and
grandchildren?
•Tell me about your parents. What are the values they taught you
regarding money?
•Ask clarifying questions. Consider using clarifying questions to get to the root of the concern your client is
expressing and help her most effectively solve her issue. For example, your client may express, “My grown kids
are too reliant upon me,” or “I’m worried about maintaining my lifestyle now that I’m divorced.” These concerns
or statements can provide an opening for you to begin a meaningful discussion on how to best address the
client’s concerns.
11
ow to Give Financial Advice to Women: Attracting and Retaining High-Net-Worth Female Clients, by Kathleen Burns
H
Kingsbury, The McGraw-Hill Companies, 2012.
Step 2: TAKING ACTION to better ser ve female clients
•How many children do you have?
3. Create a welcoming environment for client meetings.
Start with a goal of putting your female client at ease, helping her express her views and concerns as well as
enabling her to connect with you on a more personal level. To do so, consider creating a welcoming office
environment using some of the ideas below:12
•Display photos and personal mementos, as well as magazines and books. These items give the space a
comfortable feeling while staying professional. Further, items like photos and personal mementos allow for clients
to find ways to start a conversation that establishes similarities or common interests.
• Create an inviting environment that is conducive to conversation. For example, consider a tastefully decorated office
that includes a sofa, comfortable chairs, end tables, and coffee tables. Add a small round table with upholstered
chairs off to the side for reviewing and signing documents.
•In your conference room, include magazines and books on topics of interest to men and women.
4. Provide ongoing education to engage clients.
Research shows that less than half of women are confident in their ability to assume financial responsibility, which
could be attributed to a lower level of education and knowledge about investments and money management as
compared to men.13 During childhood, boys and girls may receive different cultural cues and are encouraged to
explore different subjects. By the time they become adults, many of these cultural norms may appear as though they
are part of our very nature, but they are not, and you can help clients overcome them.
16
Consider the following statistics:
•When asked if they feel confident they could assume full responsibility of their household retirement finances,
if needed, only 35% of wives say they are completely confident in their ability to do so versus 72% of husbands.14
•Although consistently ranked among the top financial concerns for women, only 40% of women have planned for
the amount of resources and investments they will have available to them in retirement. In addition, 6 in 10 women
•According to the Center for Talent Innovation, only 37% of women are confident in their knowledge of financial
products, compared to 58% of men. A woman’s confidence, or lack thereof, in her financial intelligence is a large
factor in how much risk she is willing to assume.16
•67% of women feel misunderstood by their advisor and believe that their advisor is not interested in their values
or aspirations.17
In short, many women lag in financial self-esteem due to a lack of exposure to financial training and practice at
managing money. What’s more, women often are not expected or encouraged to talk socially about mutual funds,
stocks, or bonds. The net result: Women often feel ill prepared and uncomfortable discussing finances.
How to Give Financial Advice to Women: Attracting and Retaining High-Net-Worth Female Clients, by Kathleen Burns Kingsbury,
The McGraw-Hill Companies, 2012.
13
Center for Talent Innovation, “Harnessing the Power of the Purse: Female Investors and Global Opportunities for Growth,” 2014.
14
The 2013 Fidelity Investment Couples Retirement Study of 808 couples.
15
Rebecca Moore, “Women Need Retirement Planning Nudge,” Plansponsor.com, March 18, 2015.
16
Mintel, “Marketing Financial Services to Women,” Nov. 2012, and Center for Talent Innovation, “Harnessing the Power of the
Purse: Female Investors and Global Opportunities for Growth,” 2014.
17
Center for Talent Innovation, “Harnessing the Power of the Purse: Female Investors and Global Opportunities for Growth,” 2014.
12
Step 2: TAKING ACTION to better ser ve female clients
agree that professional advice is necessary when beginning to save and plan for retirement.15
Provide your female clients with ongoing education. Taking time in meetings to educate clients on financial
topics, holding educational events, or providing books and resources to read between meetings may help some
of your clients close this knowledge and confidence gap. In doing so, you’ll not only provide them with essential
skills to manage their future, but you’ll also demonstrate a true understanding of their needs. What’s more,
encourage them to share the educational materials you provide with their friends and to invite their friends to
attend your educational events.
Put these insights into action
Build trust throughout the sales process. Consider the sample strategies to better connect and
communicate with female prospects, as presented in Worksheets E and F in the Appendix.
Engage female clients in the financial planning process. Consider sample strategies to build
stronger relationships, as presented in Worksheets G and H in the Appendix.
Use multiple listening techniques to build credibility and uncover needs. Use some of the
clarifying questions provided in Worksheet I to help you better identify and respond to client
needs and concerns.
Consider offering a comfortable office environment for client meetings.
Develop a client education plan. To help you identify educational strategies and implement a
17
plan for offering more robust client education, review the recommendations in Worksheet J in
Step 2: TAKING ACTION to better ser ve female clients
the Appendix.
“Our goal is to demonstrate that we care and recognize that women have unique NEEDS,
DIFFERENT FROM men. We communicate this message through ongoing education.”
—–Liz Niehaus, CFP®, Truepoint Inc.
C ase S t u d y: T r u epoint ’ s F o r u m fo r F emale C lients
To engage and empower female clients, Cincinnati, Ohio–based financial advisory firm Truepoint
Inc. established the Women’s Wealth Counsel (WWC). The WWC was launched with a schedule of
four events providing relaxed forums for women to learn about the unique financial issues that are
of concern to them, as well as offering the opportunity to network with one another and female
members of the Truepoint team.
One event, featuring a speaker who talked about how women can plan for the next phase of their
life, attracted 160 attendees. All female clients of the firm were invited and many of them brought
guests as well.
“One key to reaching out to women has been encouraging attendees to bring a female friend — ​
­many women enjoy attending with a friend or family member,” says Niehaus. “So far, we are
observing that nearly 50% of our clients do bring guests.”
18
Truepoint conducts post-event surveys gauging attendees’ satisfaction, to ensure that they offer
the best programming and options to fit busy schedules. In fact, in an effort to provide an option to
reach those unable to attend the recent event, Truepoint made available a PowerPoint presentation
with audio, including Q&As from the session.
With a number of events now under its belt, Truepoint has not only seen an increase in attendance at
“We included an article about the Women’s Wealth Counsel in an issue of our firm’s newsletter,” says
Niehaus, “and a client shared it with a friend going through a transition. That friend became a client.”
For Niehaus, this is just the start.
“It’s important to engage and address the concerns of female clients, because the statistics show
that women outlive men. So they may very well be our most tenured clients. Plus, women who are
satisfied clients have a strong tendency to refer their friends.”
Step 2: TAKING ACTION to better ser ve female clients
the WWC events, but it has gained clients as well.
step
3
Strategically Preparing Your Practice
Introducing and implementing new ideas in your practice will require a
concerted effort by you and your team. Consider employing some of the
suggestions in the following pages to align your team and drive change in
your organization.
Set Your Goals
With an appreciation for some of the unique differences between female and male clients and an
assessment of your current approach for engaging female clients, you may be ready to set some
goals for working with female clients. Remember that your measurable goals could focus on:
•Assets at risk
•Number of new female clients
•Additional assets from existing female clients
•Client retention
•Client satisfaction
•Referrals
When establishing your goals, be sure to include members of your team. Their active involvement
in setting these goals will help drive their engagement and commitment to this effort.
Ste p 3 : Str ate gica l ly PRE PA RING Yo u r Pr act ice
20
Engage Your Team
Achieving success with any practice-wide initiative involves clear communication of your objectives, the potential
benefits, and the steps you wish to take with your team. Consider the following strategies as you move forward:
Strategy
Suggested Activities
Communicate practice
goals
•Host a kickoff meeting with other financial advisors, relationship managers, and key
personnel in your practice. In this meeting:
– Share the statistics that show why this initiative is important and what is at risk to your
practice; use your findings from the worksheets for Determining Your At-Risk Assets
in this discussion.
– Present areas for practice development and business goals.
– Ask for feedback on goals, and refine as appropriate.
–Introduce this guide and explain how it is designed to provide strategies, tactics, and
tools to help your team.
Name your INITIATIVE,
APPOINT A LEADER, and
establish a working
TASK FORCE
•Develop a name for your commitment to engaging female clients.
Engage female
financial advisors
•Encourage all female financial advisors in your practice to explore networking
opportunities to build relationships with other women who are centers of influence
and prospects.
•Appoint a leader for the initiative.
• Create a task force consisting of a cross section of team members charged with embracing
this concept as role models in their daily activities and identifying ways to further refine the
practice’s approach to meeting the needs of female clients.
21
•For client and center-of-influence relationships managed by male advisors, begin to
introduce female advisors to the mix.
Establish a forum for
ongoing updates
•Meet with members of the practice every quarter to share ideas and feedback.
• Review and discuss the findings from Fidelity’s Insights on Advice research series.
• Share information and best practices from third parties on engaging female clients with
your colleagues.
Put these insights into action
Establish your goals for engaging with female clients. Complete Worksheet K in the Appendix.
Engage your team in the process. Use Worksheet L in the Appendix to build a plan for engaging
your team.
Ste p 3 : Str ate gica l ly PRE PA RING Yo u r Pr act ice
•Encourage celebration of successes, no matter how small.
Summary
We hope this guide has been helpful as you embark on a plan to
increase your engagement with female clients. What’s more, we
hope you have clarity on the types of strategies and activities you
can apply to help propel your own practice. As you move forward,
we encourage you to carefully assess your assets at risk, identify
actions you can take to better meet the needs of female clients,
and strategically prepare your practice.
Summary
Whether you make minor changes in your practice — or implement
larger-scale changes — your commitment level to this major market
Weopportunity
hope thiscan
guide
has
been
astime.
you embark
be well
worth
your helpful
effort over
on a plan to increase your engagement with female
clients. What’s more, we hope you have clarity on
the types of strategies and activities you can apply to
help propel your own practice. As you move forward,
we encourage you to carefully assess your assets at risk,
identify actions you can take to better meet the needs of
female clients, and strategically prepare your practice.
Whether you make minor changes in your practice — ​
­or implement larger-scale changes — ​­your commitment
level to this major market opportunity can be well worth
your effort over time.
Appendix
The following pages include exercises, tools, and ideas to help
advisors engage female clients.
Summary
Appendix
Client assessment as of:
1. Determining Your At-Risk Assets
Worksheet A: Assess Your Female Client Base
To help you assess the potential assets at your firm that are at risk, complete the practice assessment below, including all your
female clients in your analysis. Note their status and your perception of the level of engagement they have with you as their
financial advisor. Refer back to the questions we provided earlier in this guide, Review Your Current Book of Business, to
help you determine the level of individual client engagement.
Female client name
1.
Status
Married
Same-sex couple
Widowed/divorced
Is the female client
fully engaged in the
relationship with
you? (If no, list the
assets in the final
column.)
Female client
at-risk AUM
Yes No
$
Single
Married
Same-sex couple
Widowed/divorced
Single
Yes No
$
3.
Married
Same-sex couple
Widowed/divorced
Single
Yes No
$
4.
Married
Same-sex couple
Widowed/divorced
Single
Yes No
$
5.
Married
Same-sex couple
Widowed/divorced
Single
Yes No
$
6.
Married
Same-sex couple
Widowed/divorced
Single
Yes No
$
7.
Married
Same-sex couple
Widowed/divorced
Single
Yes No
$
8.
Married
Same-sex couple
Widowed/divorced
Single
Yes No
$
9.
Married
Same-sex couple
Widowed/divorced
Single
Yes No
$
10.
Married
Same-sex couple
Widowed/divorced
Single
Yes No
$
24
A ppe nd ix: W ORK SHEET A
2.
Worksheet B: Analyze the Results
Based on the work completed in Worksheet A: Assess Your Female Client Base, tally your results below to complete your
practice assessment. You may be surprised by the extent to which you have assets under management (AUM) at risk.
Married client assets at risk:
At-risk assets
$
% of total AUM (total married client assets at risk divided by total practice assets)
%
Same-Sex Couple Client Assets At Risk:
At-risk assets
$
% of total AUM (total same-sex couple client assets at risk divided by total practice assets)
%
WIDOWED/DIVORCED CLIENT assets at risk:
At-risk assets
$
% of total AUM (total widowed/divorced client assets at risk divided by total practice assets)
%
Single women Client Assets at risk:
At-risk assets
$
% of total AUM (total single women client assets at risk divided by total practice assets)
%
25
Total female client assets at risk:
% of total AUM (total female client assets at risk divided by total practice assets)
$
%
A ppe nd ix: W ORK SHEET B
At-risk assets
Worksheet C: Look for Trends in Your Findings
Based on the work completed in Worksheet B: Analyze the Results, identify your strengths or areas for improvement when
working with women in various life stages. Make a note of them below.
I do a good job of engaging female clients who are:
26
A ppe nd ix: W ORK SHEET c
I need to improve my ability to engage female clients who are:
Worksheet D: Assess Your Approach for Engaging Female Clients
Use the table below to candidly assess the extent to which you are implementing best practices in working with female clients.
Your assessment can help you identify areas of strength as well as ways that you may want to further enhance your approach.
Remember to answer the questions candidly within the context of your approach to working with female clients.
Best practice for working with female clients
Does not
fit with the
vision of my
practice
I would like
to add this
competency
I would like
to hone
my existing
skills in
this area
I do this
exceptionally
well
Financial planning
I make an equal effort to develop a broad and deep
understanding of the financial situation and concerns of my
female clients, even when they are part of a couple.
I spend time with female clients discussing family values,
attitudes about wealth, and life goals, as well as wishes for
their parents and the next generation.
I ask thoughtful questions to understand the more personal
aspects of the client’s life.
I use both fact-finding and relationship-building questions
in my interactions with female clients.
I have an open attitude about spouses’ roles and never
assume that the husband is the sole decision maker.
I engage both husband and wife in the planning process
and address conflicting goals.
27
I make sure I fully understand the risk attitude of my female
clients, even when they are part of a couple.
I help married couples prepare for financial decisions in the
event of the loss of a spouse or a divorce.
Client meetings and communication
I am successful in getting both the husband and wife to
meet with me in person.
If it is not possible to meet with both members of the
couple, I reach out to the other member who did not
attend as a follow-up after the meeting.
I understand the nuances of working with men and women
and tailor my approach to my audience.
I include both husband and wife in all correspondence.
I address both spouses when answering questions,
regardless of who asked the question.
I look for opportunities to educate my clients in
each meeting.
I follow up each client meeting with a note addressed to
both individuals in the couple, summarizing key points of
our discussion and any next steps.
A ppe nd ix: W ORK SHEET D
I explain how recent investment performance impacts the
achievement of specific client goals and/or their financial
plan.
Best practice for working with female clients
Does not
fit with the
vision of my
practice
I would like
to add this
competency
I would like
to hone
my existing
skills in
this area
I do this
exceptionally
well
Business development and marketing
I include articles on topics that are relevant to women in our
monthly newsletter.
I host events on topics that would be of interest to female
clients and prospects.
I include success stories about both men and women on our
practice website and in our marketing materials.
I support charities that are important to my female clients.
I engage both the husband and wife in all my prospecting
activities.
I periodically send satisfaction surveys to my clients, and
include both spouses in each couple.
I compare client satisfaction scores for male versus female
respondents and try to understand the reasons for any
differences.
Practice structure and facilities
28
I have both male and female advisors working in my practice.
I have a network of established providers to which I can refer
my clients for insurance, tax planning, etc., if my practice
doesn’t offer these services directly.
I conduct client meetings in a conversational setting, rather
than in a large conference room.
I include photos and personal mementos in my office.
I make sure that our reception area includes a variety of
publications that address areas of interest to both men and
women.
If there are other advisors in your practice, encourage them to also go through this exerciseso that you
may share results and best practices for continuous improvement with female clients.
A ppe nd ix: W ORK SHEET D
Helpful hint: Make This a Practice-Wide Activity
2. Taking Action to Better Serve Female Clients
Worksheet E: Prepare for Your Sales Meeting
For investors, choosing a financial advisor comes down to trust. Building trust always requires time and effort, and it starts
right up front with the business development and sales process.
The following template offers sample strategies that you can use throughout the sales process to better connect and
communicate with female prospects. Consider using it in the following ways:
•In advance of your prospect meeting, review the strategies to set the stage and prepare a list of questions that will maximize
the value of your interaction.
•After each meeting, evaluate your success in the pre-meeting, meeting, and post-meeting phases by indicating, where
applicable, how effectively each strategy worked for you.
Helpful hint: Working with Married Couples
When setting up meetings and calls, confirm (and highly encourage) that both husband and wife attend.
If meeting with a couple together is not possible, make an effort to check in with the spouse that you did not
connect with to see if his or her needs have changed, and continue nurturing that relationship.
Address all print and electronic communications to both husband and wife. Be sure that you secure the
email addresses of both parties to effectively execute this strategy. This clearly signals that both members of
the couple are important and part of the engagement.
29
In meetings, direct each of your questions to both husband and wife, but engage with the wife first.
Take the extra time to solicit the wife’s response before asking her husband the same question. This provides
her with an opportunity to express her views unbiased by her husband’s.
Helpful hint: Tracking the Details
While meeting with a female client, jot down the names of children, close siblings, and other people
who are important to her or to whom she refers during your meetings. Keep track of this information in
A ppe nd ix: W ORK SHEET E
notes, your CRM system, or whatever way works for you.
Prospect name:
Sales Meeting strategy
Meeting Date
Did not do
Completed
with
room for
improvement
Completed
exceptionally
well
Pre-meeting activities
Secure contact information: home/office/mobile/email.
For married couples, confirm that husband and wife are attending.
During the meeting:
Ask: “What are the top three areas of importance to you in an
advisory relationship?”
Ask: “Why are you asking for help now?”
Ask: “What worked with your past situation? What didn’t work?”
Ask: “What are your concerns about starting a relationship with
someone new?”
Ask: “If our advisor-client relationship were successful, what would your life
look like in 5, 10, and 20 years?”
Ask: “What else is important for me to know about you?”
30
Discuss examples of other clients similar to the prospect and how you’ve
met their needs.
Post-meeting ACTIVITIES
Send a follow-up email to all meeting participants thanking them for the
time and confirming a date for submitting your proposal.
Schedule a meeting to discuss the proposal in detail. Encourage attendee(s)
to develop a set of questions for the call or meeting.
When reviewing the proposal, point out how you address concerns
expressed by each participant in the initial meeting.
Carefully review and answer all questions. Ask if there is anything you can
further clarify.
Consider sending helpful materials about the topics you discussed in the
meeting, whether they are related to investments or to topics of general
interest to the client (e.g., hobbies, travel, kids).
Collect and capture your client learnings in your Customer Relationship
Management (CRM) system.
A ppe nd ix: W ORK SHEET E
Ask: “Have I given you everything you need to make a decision?”
Worksheet F: Review Your Results and Refine Your Approach for Future Sales Meetings
Using your findings from Worksheet E: Prepare for Your Sales Meeting, make note of the strategies that you executed
exceptionally well. Why did they work well? How did they engage your client(s) in an open and thoughtful conversation? Were
you particularly comfortable using them?
Understanding how and why these strategies were successful will heighten your awareness of effective communication and help
you improve future interactions. Use the chart below to help you with this activity.
Most successful strategies
Results these strategies yielded
Next, make a note of those strategies that didn’t yield effective results. Why didn’t they work well? What would you do
31
differently next time?
Use the chart below to identify where you might need to make adjustments in future prospect meetings. Note any specific
actions you plan to take. The ability to try new methods and adapt your actions based on the outcomes you achieve is one of
the strengths of a high-performing team. It is just as important to diagnose what isn’t working as it is to understand the drivers
of your most successful strategies.
What I can do differently in future meetings
A ppe nd ix: W ORK SHEET F
Less successful strategies
CLIENT name:
DATE:
Worksheet G: Prepare for Your Financial Planning Meeting
Understanding financial objectives is just one piece of the puzzle when conducting financial planning. Effective financial
planning, especially when working with female clients, also involves understanding the client’s personal life and concerns about
money. This process should not be rushed. It must be entered into thoughtfully, supported by an open dialogue and a thorough
understanding of issues and/or concerns.
The template below can help you plan your meetings and evaluate them by offering sample strategies that you can use before,
during, and after the meetings to build client trust and confidence in your services.
•In advance of your meeting, review the sample strategies in the template to ensure that you have taken the appropriate steps
for an effective meeting.
•After each meeting, evaluate your success in the pre-meeting, meeting, and post-meeting phases by indicating, where
applicable, how effectively each strategy worked for you.
Financial Planning Meeting Strategy
Did not do
or not
applicable
Completed
with
room for
improvement
Completed
exceptionally
well
Pre-meeting activities
Set up meeting and confirm via phone or email.
Arrange for a conversational setting to conduct your meeting.
Prepare a set of questions to ensure that you address more personal aspects of
the client’s life that may impact the financial discussion and ultimate plan.
32
During the meeting
Start the meeting by asking a few thoughtful questions about the client’s
personal life.
Take time to discuss values, attitudes about wealth, life goals, and wishes for the
next generation.
Ask: “What are your top three goals for you and your family? How do you see
the plan we develop supporting these goals?”
Ask: “What financial lessons do you want to pass on to the next generation?
How can I help with this mission?”
For couples who express different levels of risk tolerance or spending patterns,
probe the reasons behind the differences.
Use simple, clear language; avoid technical jargon and acronyms.
A ppe nd ix: W ORK SHEET G
Ask: “What is your biggest fear, personal or financial, for you and your family?”
Financial Planning Meeting Strategy
Did not do
or not
applicable
Completed
with
room for
improvement
Completed
exceptionally
well
Post-meeting/Follow-up
Take time to summarize your notes, identifying key issues and concerns so that
they are addressed in the plan you ultimately develop.
Send a follow-up email thanking the client and confirming timing for delivery
and review of the financial plan.
When reviewing the plan with your client, point out how you address concerns
expressed by each participant in the initial discussion.
Carefully review and answer all questions. Ask if there is anything you can further
clarify.
Ask: “Do you feel that this plan addresses all the concerns we’ve discussed in
our previous conversations?”
Collect and capture your client learnings in your Customer Relationship
Management (CRM) system.
A ppe nd ix: W ORK SHEET G
33
Worksheet H: Review Your Results and Refine Your Approach for Future Financial Planning Meetings
Review your findings from Worksheet G: Prepare for Your Financial Planning Meeting and make note of the strategies
you executed exceptionally well. Why did they work well? Did they uncover concerns and needs you were not aware of? Did
you sense an increased level of engagement with your client?
Understanding how and why these strategies were successful will heighten your awareness of effective planning techniques. Use
the chart below to help you with this activity.
Most successful strategies
Results these strategies yielded
Next, make a note of those strategies that didn’t yield effective results. Why didn’t they work well? What would you do
differently next time?
34
Complete the chart below to identify adjustments to make in future financial planning meetings.
What I can do differently in future meetings
A ppe nd ix: W ORK SHEET H
Less successful strategies
Worksheet I: Ask Clarifying Questions to Uncover Needs and Build Trust
Whether during the sales process or when conducting financial planning, asking clarifying questions can help you learn more
about your client’s specific needs and begin a meaningful discussion on how to best address them.
Review the chart below to familiarize yourself with a variety of concerns female clients may express. When you hear these
concerns, consider using the sample responses and clarifying questions we have provided to open a dialogue with your client
about her most pressing issues.
She says
Sample responses and clarifying questions
All Women
I’m concerned about the
economy. There’s so much
volatility in the stock market
and everyone is talking about
this country’s high level of
debt and inflation.
The economy is certainly at the forefront of the news these days, and it’s generating a lot of anxiety.
• What are your top two or three fears about these economic conditions?
•How do you feel these concerns impact your life and lifestyle?
I’m afraid to spend any money.
You are not alone. I frequently hear others express concerns about the rising cost of living.
•Tell me more about what specifically concerns you.
• What types of expenditures are you afraid to make?
• What kinds of expenditures would you like to make?
I’m concerned about rising
health care costs.
You are not the first client to express these concerns.
•Tell me more about your biggest fears about these spiraling costs.
I’m overwhelmed by trying to
figure out how to care for my
aging parents.
Evaluating care options for parents can be a daunting and emotional experience.
•Tell me more about your situation.
• What type of care do your parents need?
• What types of concerns do you have in terms of getting them the right care and the affordability of
that care?
•How do you see this changing your life?
35
Has Children
I’m worried about paying for
my child’s college education.
I see that education costs are tremendous and are continuing to rise.
• What are your specific concerns?
•Of the concerns we just discussed, which one is your greatest?
My kids are overly reliant on
me.
This is a common situation these days.
•In what ways do you feel they are overly reliant on you?
• What are your biggest concerns about the situation?
• What level of reliance would you like to see?
•Tell me more about the types of conversations you’ve had with your kids about becoming more
financially independent.
In Transition
I’m concerned about
maintaining my lifestyle now
that I’m divorced.
Adjusting to a new stage in your life is a common concern for many recently divorced women.
• What is your biggest fear about this new stage in your life?
•How has the divorce changed your life?
• What parts of your lifestyle would you like to maintain?
Now that my husband has
passed away, I’m worried that
I’m going to run out of money.
It’s very common for women to worry about having enough money.
•Tell me more about your biggest fears and concerns.
•Of those we’ve just discussed, which is the greatest?
I’m ready to quit my highpressure job and follow
my passions.
I see many people evaluating their profession and the trade-offs they represent.
• Why is it important to you to follow your passions?
• What do you hope to gain by making this change?
How will I maintain my lifestyle
during retirement?
You are not alone. Everyone I speak with wonders about life during retirement.
•Tell me what your life would look like if retirement were perfect.
• What is your biggest fear about retirement?
•How do you think retirement will change your life?
A ppe nd ix: W ORK SHEET I
Executive
Worksheet J: Develop a Plan for Client Education
Offering ongoing education can help empower female clients with essential skills to manage their future. It also provides
an opportunity for you to demonstrate a true understanding of their needs. Consider these six strategies when developing a
customized educational strategy for your firm.
level of
effort
LOWEST
Strategies to consider
Sample activities
Establish a client reading list. Each year, distribute
a reading list to your clients. You might also consider
including it in your package for prospective clients.
Consider including books and periodicals on topics such as
these:
•Raising financially responsible children
•Parenting
Send an annual thank-you. Each year, send one book
to clients as a token of appreciation for their business.
• Preparing for and/or living in retirement
• Caring for aging parents
• Surviving divorce or loss of a spouse
• Charitable giving and community involvement
Create a resource center. Establish a library of books
and periodicals as a resource center in the conference
room or office where you meet with clients.
•Investing and financial planning
•Managing health care costs and needs
•Budgeting and income planning
•Business journals
Create an inviting waiting area. Provide relevant and
current magazines in your office waiting area.
Implement a thought leadership program. Consider
these distribution strategies:
• Articles in your firm’s newsletter
• White papers
•Blog posts (your firm’s blog, or contributions
to another’s)
Consider these topics:
•Explaining pros and cons of various types of investment
and financial solutions (e.g., exchange-traded
funds, alternative investments, annuities, long term
care insurance)
36
•How your firm manages risk
• Your firm’s views on the economy and markets
•Benefits of the fee-only/fiduciary model
•Importance of goal-based planning
•Retirement planning, including income planning
•Financially and emotionally juggling the challenges of
raising children and caring for aging parents
•Transitioning to life without one’s spouse or after divorce
As appropriate, consider bringing in guest speakers.
Consider using the topics in your thought leadership program
plus the following:
•Teaching kids about money and what’s appropriate for
each stage of a child’s life
•Family finance day: a half-day event for parents/
grandparents to come with teenage children/
grandchildren to discuss investments and the importance
of budgeting
•How health and wellness can lead to financial wealth
HIGHEST
A ppe nd ix: W ORK SHEET J
Host women’s and family educational events.
Consider both small group teas/luncheons and larger
events that could include families and/or centers of
influence. Encourage clients to bring a friend to these
events.
Educational Plan For :
Now, using the suggested strategies and activities as a guide, along with any additional ideas you may have, fill out the template
below to create a customized educational plan for your practice. The unique situation of your practice will determine the extent to
which you may choose to implement any or all of the suggested strategies.
Strategy
Activity
1. Client reading list
1.
Target completion date
2.
3.
2. Client appreciation
1.
2.
3.
3. Resource center/library
1.
2.
3.
4. Inviting waiting area
1.
2.
3.
5. Thought leadership
program
37
1.
2.
3.
6. Educational events
1.
2.
3.
Helpful Hint: Widely Share Your Point of View
For any articles, thought leadership, or blog posts you create, consider these additional strategies to distribute
Share with centers of influence.
Share on LinkedIn in the following ways: on your practice page, on your personal page, and in any groups
you may belong to that reach female clients or centers of influence.
Distribute on Twitter, if you have an account.
Submit as a by-line article to a local newspaper or publication.
A ppe nd ix: W ORK SHEET J
your point of view:
Results for the 12 months ended:
3. Strategically Preparing Your Practice
Worksheet K: Set Practice Goals
Creating goals for working with female clients and measuring your success is an important part of ensuring that your practice is
meeting their needs. We’ve provided a template to help you track your progress on an annual basis. It also includes suggested
criteria for establishing goals for your practice.
To effectively use this template, you may consider:
•Establishing goals during the fourth quarter of the prior calendar year and documenting them in this template
•Tracking your results annually (though many financial advisors may prefer to review progress even more frequently — ​
­e.g., quarterly)
Goal Tracker
Measurement
Goal
Actual
Difference
Assets at risk (reference results from the worksheets for
Determining Your Total At-Risk Assets)
$
$
$
$
$
$
New female clients (single or married):
Number of clients
Total new assets
Additional assets from existing female clients (single or married):
Number of clients adding/consolidating assets with your
practice
Total new assets
38
$
$
$
$
$
$
$
$
$
Client retention:
Number of clients lost (entire client base)
Assets lost (entire client base)
Number of female clients lost (non-married clients)
Assets lost (non-married clients)
Client satisfaction SCORE if you field an annual client survey
(seek to achieve highly SATISFIED/top quartile results from 85% of survey respondents):
Overall client base
Referrals provided by your female clients:
Number of introductions
Number of new clients (closed business)
Total new assets
$
$
$
A ppe nd ix: W ORK SHEET k
Female survey respondents only
Worksheet L: Engage Your Team
Achieving success with any practice-wide initiative involves clear communication of your objectives, the potential benefits, and
the steps you wish to take with your team. Consider the following strategies as you move forward:
Strategy
Suggested Activity
Host a kick-off
meeting to
communicate
practice goals.
Share the statistics that show why this initiative is important and what is at risk to your practice; use
your findings from 1. Determining Your At-Risk Assets in this discussion.
Completed
Present areas for practice development and business goals.
Ask for feedback on goals, and refine as appropriate.
Introduce this guide and explain how it is designed to provide strategies, tactics, and tools to help
your team.
Name your initiative,
appoint a leader,
and establish a
working task force.
Develop a name for your commitment to engaging female clients.
Appoint someone in your organization to lead the initiative.
Create a task force consisting of a cross section of team members, charged with embracing this
concept as role models in their daily activities and identifying ways to further refine the practice’s
approach to meeting the needs of female clients.
Engage female
financial advisors.
Encourage all female financial advisors in your practice to explore networking opportunities to build
relationships with other women who are centers of influence and prospects.
For client and center-of-influence relationships managed by male advisors, begin to introduce
female advisors to the mix.
Meet with members of the practice every quarter to share ideas and feedback.
Review and discuss the findings from Fidelity’s Millionaire Outlook research series.
39
Share third-party information and best practices with your colleagues on ways to engage female
clients.
Encourage celebration of successes, no matter how small.
A ppe nd ix: W ORK SHEET l
Establish a forum
for ongoing
updates.
For additional information, please contact your Fidelity representative
or visit Go.Fidelity.com/insightsonadvice to learn more.
For investment professional use only. Not for distribution to the public as sales material in any form.
The information contained herein is as of the date of its publication, is subject to change, and is general in nature. Such
information is provided for informational purposes only and should not be considered legal, tax, or compliance advice.
Fidelity does not provide legal, tax, or compliance advice. Fidelity cannot guarantee that such information is accurate,
complete, or timely. Federal and state laws and regulations are complex and are subject to change. Laws of a specific
state or laws that may be applicable to a particular situation may affect the applicability, accuracy, or completeness
of this information. This information is not individualized, is not intended to serve as the primary or sole basis for your
decisions, as there may be other factors you should consider, and may not be inclusive of everything that a firm should
consider in this type of planning decision. Some of the concepts may not be applicable to all firms. Always consult an
attorney, tax professional, or compliance advisor regarding your specific legal or tax situation.
The third-party provider(s) listed herein are neither affiliated with nor an agent of Fidelity, and are not authorized to
make representations on behalf of Fidelity. Their input herein does not suggest a recommendation or endorsement by
Fidelity. This information was provided by the third-party provider(s) and is subject to change. The content provided and
maintained by any third-party website is not owned or controlled by Fidelity. Fidelity takes no responsibility whatsoever
nor in any way endorses any such content. There is no form of legal partnership, agency, affiliation, or similar relationship
between an investment professional, the third-party service provider(s), and Fidelity Investments, nor is such a
relationship created or implied by the information herein.
Third-party trademarks and service marks are the property of their respective owners. All other trademarks and service
marks are the property of FMR LLC or its affiliated companies. The Fidelity Investments and pyramid design logo is a
registered service mark of FMR LLC.
Fidelity Clearing and Custody provides clearing, custody, or other brokerage services through National Financial
Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC.
200 Seaport Boulevard, Boston, MA 02210
© 2015 FMR LLC. All rights reserved.
631517.6.01.954113.103