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These are broken down by state and feature a small blurb about their background, investment philosophy, and more. Are you planning to purchase a house, a car, pay for school fees, start a business, or have children? Putting aside a small portion of your monthly earnings can significantly reduce financial strain in 2024 and increase your chances of achieving your goals. Female clients are not a monolith, and no two women are the same, but studies demonstrate trends women look for in advisers. According to Fidelity Investments’ Investor Insight 2020 study, women choose an adviser based on their reputation, expertise and personal characteristics. I like to shorten this to a “know, like and trust” relationship.

One of the simplest, lowest-cost ways to enter the market is to invest in mutual funds or exchange-traded funds (ETFs). Both of these financial products bundle together a large number of individual stocks, bonds or other investments, giving you access to a broad section of the market while reducing your risk. If a daily review of finances is too often, consider a weekly or monthly review. If you choose to review finances less often, be sure to allocate adequate time to the task.

Financial Advisors should also organize all-women seminars to provide opportunities for education, community-building, and showcasing their knowledge. By incorporating these tips and a referral program, a financial advisor can foster client relationships and offer reliable financial guidance to women seeking trusted resources.

By recognizing these differences, however, advisors can tap into a much more diverse market that has trillions in potential. Many women lack the confidence to make financial decisions and invest in the stock market. This can lead to missed opportunities for growth and higher returns. Women should educate themselves about investing and seek the advice of a financial advisor. By learning about different investment strategies, you can build a diversified portfolio and feel more confident about your financial decisions. The gender pay gap is one of the primary challenges women face when it comes to retirement planning.

Read more about financial planning for single women here.

Get matched with a financial advisor who fits your unique criteria. It’s not uncommon for women to step away from the workforce to focus solely on raising their children. Raising a family is an amazing accomplishment, but the reality is that children don’t stay little forever, and once they’re grown, many women choose to go back to work.

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