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M.A. Kluemke and Associates

What do women want in a financial advisor?

This may not come as a total surprise, but often women have different needs than men when it comes to working with a financial advisor. Whether newly single, due to separation, divorce, or loss of a partner or husband, there may be some hesitation when it comes to talking to or working with a financial advisor.  It’s important to note that, for anyone, discussing finances may be very difficult for some while navigating the grief process.   

In my experience, women don’t want special treatment, but instead, want a financial advisor that will listen to and address their individual needs. One size does not fit all.

When tasked with developing a financial plan, many single women want to speak with and seek advice from another woman. That’s not to say a male financial advisor is any less equipped to fulfill the needs of a single female client by any means. I’m simply saying that, in my experience, single women (and sometimes women in general) are more comfortable – and open – when speaking about personal financial matters with, what is at first, a complete stranger.

Something I am very proud of, and that no matter whether it’s Mark or me you speak with, is our authenticity. We genuinely want to get to know our clients, their circumstances, and hopes for the future. And I know that’s something my female clients appreciate.

When I first meet with clients, male and/or female, I want them to ask as many questions as they feel comfortable asking. I ask a number of questions too so I can get to know them and what they need. It’s important that, from the start, they understand I will always put their interests first, that this is a long-term relationship, and that they are in safe hands. It’s my role to educate my clients so that they can make informed decisions about their finances. I am here to help them achieve their financial goals, whether it be a college fund for their kids or to save for retirement while also enjoying the lifestyle they have now.

Statistically, generally speaking women outlive men so their retirement years are likely to be longer. This is something women worry about. So, even when I have clients that are a couple I make it very clear that this is a relationship with both of them. I always want my clients to feel safe in the knowledge that their financial future is protected, no matter whether they are male, female, married, or single.

If you are interested in hearing more about our services and how I can create a financial plan tailored to your individual needs, please call (217) 679-1043 or email erin@makluemke.com.

By Erin Gutzman

Check the background of this financial professional on FINRA's BrokerCheck
Check the background of this financial professional on FINRA's BrokerCheck