A three-pronged approach to shifting the savings journey
The ability of women to accumulate savings is a critical issue that is rapidly gaining attention worldwide. Women face unique savings challenges compared to men, and many employers and wealth managers are not adequately addressing differences between genders.
Employers, wealth managers, and individual female savers have the opportunity to shape women’s financial futures. By better understanding the savings challenges faced by women, employers will not only be able to help female employees meet their savings objectives, but they will also benefit from an increased ability to attract, retain, and motivate their female workforce. Wealth managers can benefit from developing a deeper understanding of female savings needs, as this knowledge will enable them to assist their female clients in achieving a brighter financial future, building and nurturing stronger advisory relationships. Women can also improve their own financial wellness by considering it as high a priority as they would their families’ health and wellness.
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