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How female financial professionals differentiate themselves

What does it take to succeed as a female financial professional?

New research from The Harris Poll in partnership with 麻豆传媒¹ asked 1,001 financial professionals 鈥� men and women 鈥� to break down the factors they feel helped them succeed. While many of the strategies and approaches overlapped, women were clear about where they focus their efforts:

Know what your clients want.

Understanding your clients鈥� financial needs topped the list of success factors. That might seem obvious, but knowing what your clients are looking for helps ensure that you鈥檙e delivering the right strategy and right products to help.

Know the products.

Second on the list is understanding the different financial products that are available and when to use them. Clients expect you to be the expert here and look to you for insights on how they can help meet their goals. Be prepared to show how the products you recommend will meet their goals, while also explaining how they work.

Build the bonds.

This is a relationship business, so communicating clearly is key. Relationship-building skills are also important. 

Keep learning.

The financial world is changing constantly and you need to keep up. Professional development is vital to staying in top form.

Personalize your approach.

The female financial professionals who manage more than $500 million in assets stressed the importance of offering personalized service for clients. Making clients feel valued is a great way to keep them engaged.

Update your strategy.

Those same professionals were also more likely to meet with clients regularly to review and update financial plans. It鈥檚 important to ensure you and your clients are on the same page about goals and how to get there.

Standing out in a crowd

It鈥檚 no secret that clients have a lot of options when it comes to getting professional assistance with a retirement plan. Differentiating yourself is important if you want to build your practice. More than half of the female financial professionals surveyed said they use different client retention and acquisition strategies than other financial professionals.

There are many ways to stand out, but topping the list among those using different strategies were:

Create a strong value proposition (54%). 

What are your strengths? What can you bring to the relationship that others can鈥檛? Those are your secret weapons. 

Use a client engagement strategy (49%). 

Stay top of mind with your clients by connecting with them often. Nurture those relationships with ongoing communication and personalized touchpoints.

Target a niche market (48%). 

It will help you specialize and could lead to strong referrals from your existing clients in that niche.

Boost your online presence

Social media especially has become an important part of reaching existing and potential clients. A 2023 study² found that 81 percent of respondents have taken some action after seeing friends, family or influencers post about a product. That makes building and maintaining your brand online a big part of building your business. 

In the 麻豆传媒 survey, 32 percent of female financial professionals said their online presence was an important way for them to build their business compared with 24 percent of their male colleagues.

LinkedIn is a great place to start. Find out more about the opportunities and get tips on how you can create an effective online presence and build your practice. 

Today鈥檚 dynamic financial marketplace can be challenging. Successful female financial professionals thrive by focusing on their clients, identifying their needs and then delivering personalized service that builds their trust and confidence. 

¹ This online survey was conducted within the United States by The Harris Poll on behalf of 麻豆传媒 from January 30 - February 15, 2024, among 1,001 financial professionals with $50+ million in Assets Under Management
² , February 22, 2023