Women in Wealth
A highlight (and crowd favorite) at the 2018 Digital Advice Conference came during Tuesday’s lunch session. Sue Thompson, Former Head of BlackRock‘s RIA Channel moderated a panel titled Leaning In…Women In Wealth featuring powerful industry leaders from across the country including, Kimberly Foss, Kirsten Ismail, Lauren Stansell, and Tanya Steinhofer. Here are a few of my favorite takeaways from this amazing group of women.
There is something to be said for the value and prospective female employees can add to one’s business. Attracting and retaining them is a different story, but UBS and Yeskie Buie seem to have found the secret sauce.
Kirsten explained that UBS has an all-female group called Advise Beyond Investing geared towards keeping women actively engaged at the company. At Yeskie Buie, Lauren explained, they are constantly searching for the best of the best. They have lengthened and enhanced their onboarding and training programs to ensure that their new hires are ready to hit the ground running toward success.
Color Coding Your Clients
For Kimberly Foss of Empyrion Wealth Management, open communication is key. For Kimberly’s new clients, their first task is to take the color coding test. Each test is designed to show a client’s personality and which methods of communication are appropriate for them. The results of this test help Kimberly and her team at Empyrion customize their strategy and tactics for each individual client. After all, the number one trait women respond to is empathy.
How to Better Serve Female Clients
All four panelists stressed the need to manage communication style. Tanya Steinhofer of Redwood Grove Wealth Management added that meeting the client at their level and speaking with them not at them is key to being informative. Tanya further explained focusing on a client’s needs and putting their interests first are both important for a successful relationship.
Stay tuned for further recaps of the 2nd Annual RobustWealth Digital Advice Conference, coming soon.Please refer to www.robustwealth.com disclosures. Views are only opinions and not guaranteed to be accurate.