Putting Some Respect On Women's Pockets

Good Afternoon,

March is Woman's History Month, and MarketWatch put out an article about the disparities in the advice given to women versus men. This is a great article that not only touches upon the differences and how to take control of the situation. Some key takeaways from the article are:

1. Advisors tone down the risk for women

2. Women believed to have less experience by Financial Advisors

3. Flaws in the information gathering step hinders the execution of the investment plan

4. Types of questions asked to women tend to be more personal and financial

The article highlights ways to solve these issue which are: 

1. Seek out more Financial Advisors before committing to one

2. Take charge of the conversations

3. Have a healthy level of skepticism

4. Ask for a woman Financial Advisor

These steps lessen the inherent bias of financial advisors, but the first step should be to educate yourself first. That should be the answer for any gender because without sufficient information it is hard to know who is telling the truth or not. From there defining the goals you have, and asking for options helps create a more productive conversation. It is your money, so take control of it!


https://www.marketwatch.com/story/on-international-womens-day-what-women-investors-can-do-to-avoid-receiving-biased-financial-advice-2019-03-08




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