The Secret to Selling to Women


The Secret to Selling to Women

By Dan Solin

April 8, 2014

Next page

Seth Klarman Describes His Approach In Rare Harvard Interview

Seth KlarmanIn a rare interview with Harvard Business School that was published online earlier this month, (it has since been taken down) value investor Seth Klarman spoke at length about his investment process, philosophy and the changes value investors have had to overcome during the past decade. Klarman’s hedge fund, the Boston-based Baupost has one of Read More

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

If you want to achieve success as a financial advisor, master the art of selling to women.

There is little doubt about the significance of this market. A study by Boston Consulting Group concluded, “As wealth management clients, women are both significant and undervalued.” The study found that women controlled about $20 trillion of the world’s wealth. In North America, women control approximately 33% of assets under management.

Women account for more than 50% of all stock ownership in the U.S. and 48% of estates worth more than $5 million. They also control or influence 67% of household investment decisions.

The science of selling to women

When I was doing research for The Smartest Sales Book You’ll Ever Read, I was struck by the lack of credible support for much of the advice given about selling to women.

I found this odd because there is a wealth of well-researched information dealing with the difference between the way men and women process information. The same presentation you may be using to great effect with men is unlikely to produce the same results with women.

Historical context

There are many theories for how these communication differences came about. One study suggests that it has evolutionary roots. If a male wanted to survive, he had two choices: fight or flee.

Confronted with the same circumstances, fighting was often not a viable option for women, according to this theory. It was complicated and cumbersome, because of the need to protect their children. If females had adopted a fight-or-flight response, their chances of survival would have decreased, along with their ability to reproduce. By adopting a “tend-and-befriend” defense, the ensuing female network increased the likelihood of survival for her and her children.

While these theories are useful in understanding generally how men and women process information, they are not universally applicable. Although neuroscientists have concluded there are differences in brain anatomy and physiology between the genders, those differences may not necessarily be hardwired. There is ample evidence that many gender traits are also influenced by upbringing and experience.

Next page

Display article as PDF for printing.

Would you like to send this article to a friend?

Remember, if you have a question or comment, send it to

Contact Us | Privacy Policy

© Copyright 2014, Advisor Perspectives, Inc. All rights reserved.

Updated on

The Advisory Profession’s Best Web Sites by Bob Veres His firm has created more than 2,000 websites for financial advisors. Bart Wisniowski, founder and CEO of Advisor Websites, has the best seat in the house to watch the rapidly evolving state-of-the-art in website design and feature sets in this age of social media, video blogs and smartphones. In a recent interview, Wisniowski not only talked about the latest developments and trends that he’s seeing; he also identified some of the advisory profession’s most interesting and creative websites.
Previous article CRA Halts Tax E-Filing Due To Heartbleed Bug
Next article Bank of America Settles With CFBP On Credit Card Practices

No posts to display