We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (21,155)
  • Industry Conferences (2)
  • Industry Job Openings (35)
  • Moore on the Market (414)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (800)
  • Wink's Articles (353)
  • Wink's Inside Story (274)
  • Wink's Press Releases (123)
  • Blog Archives

  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • Could Female Advisors Fix Boomers’ Retirement Crisis?

    May 9, 2014 by Kenneth Corbin

    WASHINGTON – Many women say they don’t feel prepared for retirement. Could more female advisors solve the problem?

    As millions of baby boomers prepare to exit the workforce in the coming years, a large majority of women are feeling anxious about their retirement security, according to a new study.

    While highlighting the important role that advisors can play in helping women prepare for retirement, theInsured Retirement Institute’s report also calls attention to the significant gender gap within the advisory sector.

    “So what can be done to help women of all ages to gain greater financial security? Well, of course, financial education and financial advice really, both quantitatively and qualitatively, can help women,” IRI President and CEOCathy Weatherford said at an event organized for the release of the research.

    “Financial advisors help in creating a financial framework for successful retirement outcomes. They provide expert guidance and support in achieving savings goals. Those who work with a financial advisor are more likely to feel very or somewhat prepared for retirement by a margin of nearly two to one,” Weatherford added.

    In all, just 30% of female boomers said that they feel extremely or very confident in their efforts to accumulate enough savings to live comfortably in their retirement years. Just 13% of Gen X women said the same.

    ADVISORS’ ROLE

    Of the women polled in IRI’s survey, 46% of boomers said that they had worked with a financial planner to prepare for retirement, compared to just 23% of Gen Xers who said they had consulted with a planner. The Gen Xers polled identified retirement planning as the single most important service they receive from their planners. Retirement ranked a close second for boomers, just behind investing.

    The report highlights a litany of benefits that can come from working with an advisor, including intangibles like peace of mind, as well as material payoffs such as higher savings rates. Citing data fromING’sRetirement Research Institute, the study notes that people who work with an advisor report better financial habits across the board than those who do not. That translates into higher rates of contribution to employer retirement savings plans, a greater likelihood to pay off credit cards in full each month, and far stronger feelings of confidence about retirement.

    “Planning is, I think, the thing that’s going to shift things,” said Millicent Eubanks, an associate vice president with Wells Fargo Advisors. “To that extent, once the investing public begins to see the value of that, they’ll stop running into the pitfall of the DIY approach.”

    ADVISORY GENDER GAP

    Part of women’s reluctance to work with financial advisors could stem from the lopsided demographics of the sector. Some 70% of women say that they would prefer to work with a woman as an advisor, yet women occupy just 30% of the positions in the industry. Among boomers who work with an advisor, just 21% said that their advisor is a woman.

    “That’s where the gap is,” said Rep.Gwen Moore (D-Wis.) “Women are much more likely to want to get advice from females. … We have a real challenge.”

    The authors of the report suggest that the single biggest reason why there are not more women financial advisors is a basic misperception about the nature of the profession.

    Many women, quite simply, see advising as a numbers game. No surprise, then, that the IRI reports that women tend to view the field as “boring,” and just 9% say they have ever thought of a career as an advisor.

    But the report argues that advising actually tracks quite closely with the factors in a job that women say in surveys that they value — work/life balance, meaningful work and relationships with the boss and coworkers.

    “That’s why I think some women stay away from this profession. They think it’s all about numbers,” said Katie Libbe, vice president of consumer marketing and solutions at Allianz Life. “It’s all about relationships.”

     

    Originally Posted at InsuranceNewsNet on May 8, 2014 by Kenneth Corbin.

    Categories: Industry Articles
    currency