Working with Women Investors. For Advisor Use Only. Not for Public Distribution. prospecting

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1 Working with Women Investors prospecting

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3 Market Matters You may have heard that women are a growing niche market. Representing more than half of the population the female investor market certainly stands on its own and can represent a significant opportunity for your business. Consider the facts: 90% of women will be solely responsible for household financial decisions at some point in their lives. 1 70% of widowed women stop working with their financial advisors shortly after the death of their spouses. 2 Globally, women control $20 trillion in investment dollars and represent 9% of the world s billionaires. 3 American women are responsible for 83% of all consumer purchases and hold 89% of all U.S. bank accounts 3 Female clients are also concerned with different issues than male clients may be. The following chart, recently featured in InvestmentNews compares characteristics of male and female investors. The following characteristics are depicted in either red or gray depending on female investor survey responses. Yes No More focused on longterm planning than on short-term rates of return More accepting of your investment recommendations More conservative about making financial investment decisions More risk averse Taking more time to make investment decisions Requiring more time of our firm s financial advisors More aware of how much they will need to retire comfortably Expressing more concern during periods of market volatility Source: InvestmentNews Data 1 Village, Why a Man Is Not a Financial Plan, by Lori Livingstone, 4/3/ Retire Like Me, Securing Retirement for Women, Joni Douglas, 5/10/ Women Advisor Forum, Power Unused Is Power Useless, by Jacki Zehner, 4/26/11 Zhu, Ellie, and Liz Skinner. Survey Proves, It All Comes down to Trust. InvestmentNews. 26 July Web. 29 July

4 Finally, female investors value different qualities in advisors than male investors. According to the same study, here are the characteristics female clients value most in an advisor Shared Values, Integrity and Trust Listening Skills Ability to Translate Personal Needs into a Strategy Responsiveness and Communication Skills Understanding of Investment and Financial Environment Source: InvestmentNews Data This guide provides practice management tools and strategies to help optimize your business model including how to best communicate to women and address the issues that truly matter to them. 5 Zhu, Ellie, and Liz Skinner. Survey Proves, It All Comes down to Trust. InvestmentNews. 26 July Web. 29 July

5 Getting Started For as long as many advisory firms have been in business they have largely catered to men, perhaps because they were traditionally the family breadwinners and money managers. Those roles are shifting now an oft-cited 2013 Pew Research study found women were the breadwinners in 40 percent of households with kids but the perception that advisors pay more attention to male clients has not. And it s not unfounded. A study by Fidelity Investments found that even when couples interact with a financial advisor, men are still 58 percent more likely than women to be the primary contact. That may help explain why when male clients pass away, their widows are more likely than not to fire their advisors. To get started, begin with your current book of business: Step 1: Review your current relationships and segment your book of business. Among your clients, identify and list the married, divorced, single or widowed women and ask yourself: How much do I know about their financial and retirement goals? Are there other areas of interest or apprehension that I have detected but never delved into? Identify your ideal client using the Ideal Client Profile worksheet. Speak with your female clients that match this profile using the Ideal Client Interview. Step 2: From the interviews you have held, identify the targeted services you will offer as solutions to the needs of the clients that match your Ideal Client Profile. Create or revise your Unique Positioning Statement to reflect the solutions you can provide for this specific clientele (UPS). Step3: Re-vamp your communications and marketing materials to attract the audience you wish to target. 4

6 Step 1: Segment A targeted strategy is essential to the long-term success of your business. Segmenting your book of business according to the different types of female clientele you serve allows you to better leverage your strengths, reinforce your points of differentiation and maximize opportunities for referrals. We have developed a Target Markets workbook that walks you through each step of segmentation including identifying your ideal client profile, interviewing your ideal clients, building unique solutions to support those clients, and even how to hire individuals that will support this strategy. For more information, please review the Target Marketing Strategies workbook. Target Markets A Guide for Identification & Implementation segmentation 1 5

7 Step 2: Develop/Refine your Unique Positioning Statement Creating a positioning statement that truly defines you, your business, and your role as an advisor is an invaluable investment in your business. By committing yourself to the process of developing a unique positioning statement, or UPS, you can help: Communicate your unique offering(s) Expand your brand Earn more qualified referrals, and Engage more effectively with centers of influence If you already have a UPS, you may need to refine it to be more focused on your new target market. While developing or refining an impactful positioning statement takes dedication, time, effort and introspection, it doesn t have to be burdensome. In fact, we have created a workbook to help guide you through the thought process of creating a UPS. In addition, Symmetry s marketing team is available to assist you every step of the way. We can help you: Write your statement Proof-read it Refine it Incorporate it into custom marketing pieces unique to your practice. Creating Your Unique Positioning Statement (UPS) defining 6

8 Step 3: Communications & Branding Communications: As service industry professionals, being able to articulate your value is something we must do and we must do it effectively. Once you ve created your value proposition, you have to get your message to your target group. Make sure to use ALL of your network opportunities. This may include, but is not limited to: Website Articles/Blogs Remember: Ask your female clients how they receive information. This will be the best gauge on what network will be the most effective! Specific Female investors Events Social Media Prospecting letters Newspaper Ads Symmetry Partners also provides numerous resources to help you create an effective communications plan including: Client meeting tools Investment planning resources Materials to help you communicate your unique value Educational articles and Seminar and event planning materials, among others 7

9 Branding: Set yourself apart by developing branding specifically for your audience of women investors. Find images that relate to your target group. Symmetry offers customized branding solutions designed to help you distinguish your business and gain recognition in your marketplace. When you partner with Symmetry for your marketing materials, you have access to a catalog of customizable materials with a look and feel that reflects your unique investment vision and style. Our modified line of branding solutions features three messaging options: Advisor Choice Branding Creative Marketing that s Uniquely Yours Different by Design Describes a research-based investment strategy that seeks to leverage the return potential of academically-derived factors in order to construct innovative investment solutions that are designed to harness the power of the financial markets. unique 1 The Value of the Advisor _Describes the critical role of the advisor in helping their clients achieve financial success through a host of services including planning, investment selection, client communications and portfolio monitoring and review., and Success Starts at the Core _Describes a core and explore investment strategy based on striking a balance between a broadly diversified, strategic core holding and complementary exploratory options. You can select the message and investment theme that most accurately represents your business and the clients you serve. Ask your Advisor Services Consultant about Symmetry s branding solutions designed to help you increase your visibility, grow your business, and communicate with clients. 8

10 Putting it all Together As the statistics at the beginning of this brochure prove, not only are women more inclined than men to use financial advisors, but they want your help. They have investable assets and an unprecedented need for your services. Remember to begin by identifying what works and then tailor your style to meet her individual needs and preferences by taking advantage of the vast wealth of Symmetry resources at your disposal. To discuss next steps, please contact us at Custom marketing pieces are available to qualified advisors. Please speak with your Advisor Services Consultant to determine eligibility. 9

11 Symmetry Partners, LLC, is an investment advisory firm registered with the Securities and Exchange Commission. The firm only transacts business in states where it is properly registered, or excluded or exempted from registration requirements. No current or prospective client should assume that future performance of any specific investment, investment strategy, product or non-investment related content made reference to directly or indirectly in this material will be profitable. All data is from sources believed to be reliable but cannot be guaranteed or warranted. As with any investment strategy, there is a possibility of profitability as well as loss. Please note you should not assume that any discussion or information contained in this material serves as the receipt of, or as a substitute for, personalized investment advice from Symmetry Partners. Please note before attempting to set up any type of program you should check with your firm s Compliance Department or OSJ for usage limitations. 10

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