Marketing to Women Online

How Financial Companies Can Win with Women Business Owners

Women business owners face the same challenges that all business owners face. But how they handle those challenges, how they make decisions, and what they want from their financial partners can be different from their male counterparts.

For example, a recent American College survey found that small business owners prefer to work with financial advisors of the same sex.

Sixty-one percent of women small business owners prefer to speak to female financial advisors, compared to 24 percent of men. Seventy-five percent of men prefer to speak to male financial advisors, compared to 40 percent of women.

So for those 61% of women business owners who prefer to work with a female financial advisor, what can you do for them?  Do you have women financial advisors in your company?

Why Mothers Need to Put Themselves Financially First - New Study

Moms are famous for putting other people first, especially their families.  But when it comes to finances, moms need to put themselves and their retirement first.   It's actually one of the most loving things they can do for their family.

Here's why.  Women don't want to be a burden on their families, financial or otherwise. 

• 9 out of 10 women say they don't want to be a burden on their kids.
• Older Americans (age 44-75) are more afraid of running out of money than death. 

Women care deeply about NOT having to be dependent on others, and this includes moms.  The problem is, mothers face additional challenges when it comes to saving for retirement.

Retirement Revealed Study

A recent ING U.S. study Retirement Revealed found that mothers face additional hurdles when it comes to building their retirement security.  While the income gap between men and women has narrowed in recent years, mothers tend to spend more time out of the workforce due to caregiver responsibilities.  This reality reduces their earning and savings potential and also lowers Social Security benefits.  ING U.S.’s study found that:

• The majority (60%) of mothers do not feel prepared for retirement and almost half (46%) don’t know how to achieve their retirement goals. 
• Just over half (53%) of mothers have less than $25,000 saved in their employer-sponsored retirement plan. 
• Less than two-thirds (65%) of mothers are receiving their employer’s full company match compared to more than three-quarters (76%) of fathers.
• Only two-in-ten (20%) of respondents have a formal investment plan to meet their retirement goals.