Women Clients Present Untapped Opportunity for FAs: Survey
March 11, 2020 by Alex Padalka
Women feel far less secure about their retirement savings than men and earn less, which impacts savings, recent surveys show, but financial advisors have an opportunity to step in and improve their financial security.
Nineteen percent of working women have not saved anything for retirement, according to a CNBC poll of 1,068 U.S. working women conducted February 10 to 14. And 14% of the women polled didn’t know how much they had saved, according to the TV news channel.
Low levels of savings aren’t due to women spending too much, certified financial planner Avani Ramnani tells CNBC. Women still earned 85% of what men earned as of 2018, according to a January Pew Research Center analysis cited by the news channel.