New Book About Women and Money

MMM V2If you’ve ever spent time around women, you know they are constantly talking about their relationships. Women share all sorts of details and intimacies. But there is one relationship they almost never talk about, at least publicly – their relationship with money.

I’ve spent the last decade studying how men and women make financial decisions.  I’ve noticed some interesting patterns, particularly in how women approach money. Or in some cases, avoid money.   I’m always looking for new insights on what women can do to have a better relationship with money.   I found a great resource in Meriflor Toneatto.

Money, Manifestation & Miracles  – 8 Holistic Principles for Transforming Women’s Relationship with Money is a new book by Meriflor Toneatto.  Meriflor provides coaching, tools and strategies for women who are ready to release their limiting beliefs and blocks regarding  money.   These beliefs hold them back from maximizing their earning power and increasing their self-worth and net worth.

As Meriflor points out: “Your emotional state will ultimately determine your financial state. The way you do money is the way you do everything in your life.”  She makes some interesting analogies. Continue reading

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What Do Women Business Owners Want from Banks?

Women Business OwnersI recently hosted a panel at the Small Business Banking conference in Miami focusing on women business owners.   Judging from the crowd and the feedback, there is A LOT of interest in working with women business owners.  And rightly so.

During the past 17 years, women-owned businesses have steadily increased their influence on the U.S. economy. Since 1997 women-owned firms have:

  • increased in number by 68%
  • grown revenues by 72%, and
  • added 11% more jobs.

Banks, credit unions and other alternative lenders are looking for strategies to attract and connect with women business owners. The question is, how?

The two top questions attendees wanted answered were:

  1. What’s the difference between men and women business owners?
  2. What do women business owners want? What matters to them when choosing a bank or banker?

Continue reading

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New Magazine for Female Financial Advisors

Sayra MagazineIs there a difference between male and female financial advisors?

Aren’t they all selling the same products and providing the same kind of services and advice?   Yes.  But how they provide that service and how they run their business isn’t always the same.

That’s why I was excited to discover a new magazine, Sayra (pronounced “Sarah”), for female financial advisors. Continue reading

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Best Marketing To Women Ads 2014

Here are our favorite marketing to women ads for 2014.    Some are obviously targeting women, some are doing it in a more subtle way.  But all do a terrific job of connecting with women.   Drum roll please…….

Subaru – Flat Tire

You will notice a theme here that I’ve been promoting for a long time – if you want to connect with women, show great dads.   I think dads and daughters are an especially powerful combination. Continue reading

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Work Life Balance Perfectly Explained In One Video

union-prison-hed-2014When I speak to women’s groups, the concept of “Work Life Balance” is a popular discussion point.  Every time I have been asked to give a presentation on that subject, my answer is, “no.”    I have nothing to say since I do not believe there is such a thing as “Work Life Balance.”

But then I found this video.   It hilariously addresses this question.   The answer will, sadly, resonate with almost everyone.

Cue the brilliant video from Toronto Creative Agency Union.


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Impact Investing – Can You Make A Difference and Make Money?

Impact investingSome call it Socially Responsible Investing.  Some call it Sustainable Investing. Some call it Responsible or Green Investing.  Some call it Impact Investing.  No matter what you call it, this type of investing focuses on companies who have a positive impact on society or the planet.

Many in the financial industry have shied away from this type of investing.    Why?  Because their focus has been on making money.   And there is a popular belief that you cannot be socially responsible AND focus on making as much money as possible.

One financial advisor I read about went so far as to say he would fire any client that came to him wanting to do “socially responsible” investing.

But is that belief true?   Venture capital firm, DBL Investors, in San Francisco would disagree.  DBL stands for “double bottom line,” which refers to focusing on the bottom line of making money and the bottom line of making a difference.  The fund’s managing director is Nancy Pfund. Continue reading

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Why Women Love Navy Federal Credit Union

Every time I speak or work with a client I am asked for examples of financial companies who are successful marketing to, selling to, and retaining female clients.

Well here you go.

Navy Federal’s digital platform scores high among women

Javelin Strategy and Research issued a report – Banking with Women Customers:  Strategies to Increase Digital Banking Engagement.  Some highlights from the report were shared in The Financial Brand’s article, “Attracting Women Customers for Digital Banking Engagement.”

“Although women are not as likely as men to try new technology first, they hold the key to mass adoption,” said Mark Schwanhausser, Director of Omnichannel Financial Services for Javelin Strategy & Research. “Banks need to incorporate online and mobile features that bolster women’s desire for simplicity and to avoid slipping into debt.”

Notice that very important point – women are the key to mass adoption.   If you create tech women love and use, everyone else is likely to follow. Continue reading

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The Future of The Financial Planning Industry – Key Questions

Investment News 40 Under 40

Investment News 40 Under 40

As financial advisors and financial planners look to the future, they are asking some key questions:

What are women looking for?  Is there a difference in how I work with male and female clients?  What needs to change in my practice, my meetings, my prospecting and marketing in order to attract and retain more female clients?  (Whether they are single or part of a couple.)

If the majority of my clients are older, what happens to their money when they die?  Will it stay with me or will their heirs take it somewhere else? What can I do to connect with those heirs now?

What about Gen X and Gen Y?   People in their 30’s and 40’s.  What are they looking for? What kind of financial planning and advice do they want and who do they want to work with?

And  how do I attract younger talent to my firm? How can I develop the next generation of great financial advisors?  I need to start thinking about a succession plan.

You will find answers to all of these questions in Investment New’s article about the Top 40 Under 40.

Meet the future of the financial advice industry.  The Investment News editorial staff presents a list of 40 outstanding young people taking the financial advice industry into the next era. Meet the future of advice, and get ready to be inspired by their unique stories.

Continue reading

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Are Women Risk Averse or Simply More Risk Aware


riskIt is a mantra we have heard so often we no longer question it….

Women are risk averse.

I do a lot of work with the financial industry, and this phrase comes up again and again.   But I want to rephrase it to be more accurate.

Women are risk aware.

And it has a lot to do with brain chemistry. Continue reading

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Gen Y Women and The Future

Gen Y WomanWho is Gen Y?  There are differing opinions on the exact dates, but a common timeline is those people born between 1977 and 1995.

There’s probably no generation that has been more stereotyped than Gen Y.    They’re entitled, they want instant gratification, they’re tech-savvy, they hop from job to job…..

I want to go past the stereotypes to see what’s really going on with Gen Y.   I am particularly interested in Gen Y women. Continue reading

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