For Financial Advisors, Financial Planners and Insurance Professionals – How To Sell Financial Services To Women

How to Sell to WomenWomen are a great niche market and can be more valuable clients than men and are more apt to provide referrals. Investment News reported this based on a study conducted by Delia Passi. Learning how to sell finanical services to women is an investment worth making! At an Investment Management Consultants Association presentation, she made this statement, “Over a lifetime, women will make 26 referrals to their financial advisor on average, compared with 11 by the typical male client.”

Based on my experience working with numerous financial services providers, I believe this.
Here’s just one example: The owner of one of the country’s top producing wealth management firms located in Texas hired owner hired me to help improve his marketing materials, make recommendations for new and special events, and help him to create a service culture. The night before the our work was to begin, he took me to dinner and told this story: Continue reading

What Women Need From Financial Service Professionals

How to Sell to WomenIf you sell insurance, financial services to women, as well as health care solutions, you need to be a consultant, educator, confidante, friend, and, most importantly, a trusted professional advisor.

There is one quick item to point out. Why are health care decisions so important today? One reason is that several studies have confirmed that workers place health care benefits near the top of the list of reasons in choosing their future employer. Due to escalating health care costs, benefits to offset these costs are considered to be of vital importance.

Let’s look at one interesting example. The Affordable Care Act initiated new compliance laws. These laws mandate that companies educate every employee on the health care services it provides. Previously, some companies felt that employees were never interested in seeing presentations from insurance companies to learn about the major medical or supplemental insurance plans they offered. Their human resources staff would just ask employees if they were interested in enrolling in the plans they provided. Many people would decline, simply out of frustration at the lack of knowledge provided by the companies. (Read on for a real-world example of this.) Continue reading