There is a changing face of wealth in North America. Moving forward women will represent an increasingly influential segment within the Wealth Management market. Here are just a few important things to know about this emerging market. • 70% of women will change their husband’s advisor(s) within one year of the death of their spouse/partner • 90% of women will be required to play the role of sole financial decision maker at some point in their lifetime • By 2026, women in North America will control close to half of all accumulated financial wealth This target market represents a significant amount of future business for professionals. Therefore, are you already working in this market? If you are, are you doing what is necessary to become an advisor for life? If you are not already working in this market, what is preventing you from doing so?
Mental Wellness & Financial Wellness go hand in hand and as a society we are talking more about mental health in the workplace but we also need to be discussing financial wellness. In surveys where they ask employees what causes you stress, the answer that tops the charts is consistently personal finance. In a recent survey conducted by a large company, they found three of the top four stressors are: • Personal and household finances (45 per cent) • Budgeting (32 per cent) • Unexpected finances (31 per cent) As well, one-third of respondents reported feeling insecure about their overall financial health. Personal finance gets into our life; it gets into our sleep, into our self-esteem, into our relationships.