Introducing the Women’s Wealth Counsel

Confidence and security come through knowledge and planning

Women are increasingly becoming the financial decision makers in many households. Women control 14.3 trillion dollars or 51.3% of the country’s wealth and this number is expected to grow.  As a result of death, disability or divorce, 95% of women will be their family’s primary decision maker at some point in their lives.

Because women face unique financial challenges, retirement planning must be a top priority.  Women historically earn less than their male counterparts over their careers due to leaving the workforce to raise a family or from lower salaries than male peers.  Compounding the earnings gap, statistics suggest that women live longer than men, on average about 10 years. With lower earnings and higher life expectancies, it is important for women to have a retirement plan.

In the January 2012 Viewpoint, Michael Chasnoff identified female investors as one of Truepoint’s areas of targeted new growth.  Given these changing demographics, Truepoint has formed the Women’s Wealth Counsel, a team of advisors that focus on addressing the unique aspects of managing wealth for women.

A study from the Family Wealth Advisors Council found that women with a net worth of over $1 million are dissatisfied with the financial service industry because they feel they are not being heard or respected by their current advisor.

While impossible to generalize the needs of women given the various sub-segments, many studies have found that when seeking financial advice, women prioritize trust and respect. Additionally, a human touch and competence are key criteria for women when they select an advisor.

We believe that Truepoint is uniquely positioned to meet the needs of women investors. As a fiduciary, we place the client first. Our team of credentialed specialists listens closely to our clients and translates their goals and desires into effective financial strategies. Placing their trust in Truepoint allows clients to focus on other aspects of their lives. Truepoint’s experienced advisors help female clients achieve financial confidence throughout the transitions and challenges in their lives in areas such as:

  • Reviewing spending plans
  • Changing jobs or careers
  • Preparing for retirement
  • Caring for aging parents
  • Shifting to an empty nest
  • Managing financial affairs after a divorce
  • Coping with the illness or death of a spouse
  • Providing educational funds for children or grandchildren

Currently representing 16% of our client base, single female households are a growing segment of Truepoint’s business. The composition of these households varies from widows to divorcees to professionals.

According to a recent study by Insured Retirement Institute 1, nearly one-half of women state they are not as knowledgeable about investing, compared to 40% of men who gave the same response. Truepoint is committed to educating its female clients on a variety of topics such as financial well-being, health and wellness and personal growth.

In 2011, we hosted over 150 guests to learn about women and philanthropy. This year the focus of our female-only event will be navigating the various transitions of life and making the most of the opportunities. We hope you will be able to join us in May! Client invitations have been mailed for the Truepoint Ladies Luncheon on May 8, 2012. If you are not currently a client but would like to learn more about Truepoint’s upcoming female-only events, please contact me. If you are a client and would like to make your reservation for the upcoming luncheon, please contact your lead advisor.

1 Insured Retirement Institute. “Women, Retirement and Advisors: Concerned About Meeting Retirement Expectations, Female Boomers Seek Expert Advice.” September 2011.

Truepoint Wealth Counsel is a fee-only Registered Investment Adviser. Registration as an adviser does not connote a specific level of skill or training. More detail, including forms ADV Part 2A & 2B filed with the SEC, can be found at TruepointWealth.com. Neither the information, nor any opinion expressed, is to be construed as personalized investment, tax or legal advice. The accuracy and completeness of information presented from third-party sources cannot be guaranteed.

We’d love to get to know more about you and
share with you how we can best help you.