The average life expectancy for women is 81 years compared to 73 years for men according to the Social Security Administration.
81% of women will be widowed.
The average age of widows is 55 years according to Census Data.
When you combine the fact that most women outlive their husbands, some women never marry, or end up divorced, it is quite likely that at some point in a woman's life, she will be responsible for herself financially.
73% of women surveyed are unhappy with the service they receive from their financial service provider.
Women do not seek to accumulate wealth for wealth itself but rather as a means of taking care of family and security.
Women want financial advisors who "understand their need for short term simplicity and long term stability."
Women want "better information sources and educational materials to help them make decisions."
Source: The Boston Consulting Group, Inc., Women Want More (in Financial
Services) and Leveling the Playing Field: Upgrading the
Wealth Management Experience for Women