{"id":4999,"date":"2010-02-23T09:23:58","date_gmt":"2010-02-22T23:23:58","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=4999"},"modified":"2020-02-06T08:08:10","modified_gmt":"2020-02-05T21:08:10","slug":"women-not-looking-to-planners-for-financial-advice","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2010\/02\/23\/women-not-looking-to-planners-for-financial-advice\/","title":{"rendered":"Women Not Looking to Planners for Financial Advice"},"content":{"rendered":"<p>Advisers are missing out on opportunities to provide more women with advice\u00a0about their financial future, according\u00a0to CoreData.<\/p>\n<p><!--more-->The research firm&#8217;s\u00a0&#8216;Invisible Sex 2010&#8217; report has found\u00a0that women are more likely to seek financial advice from other people who are more experienced than them, or from family and friends.<\/p>\n<p>But those &#8216;other people who are more experienced&#8217; tend not to be\u00a0financial advisers, because the report goes on to state:<\/p>\n<ul>\n<li>Women are more likely to have never used a financial adviser and are also less likely to have a dedicated adviser<\/li>\n<\/ul>\n<p>CoreData senior analyst, <strong>Kristen Paech<\/strong>, said &#8220;The research shows that women do indeed seek guidance from others when making financial decisions, but are more likely to turn to people they know than to a professional adviser.&#8221;<\/p>\n<h6>There&#8217;s a big opportunity here [to] &#8230; tap into what is currently an underserviced segment of the market<\/h6>\n<p>&#8220;There&#8217;s a big opportunity here for the financial advice industry to demonstrate value to the female population and tap into what is currently an underserviced segment of the market,&#8221; said Ms Paech, adding that the benefits of doing this are twofold.<\/p>\n<p>Firstly,\u00a0many women have a strong influence on their male partners, and research reveals that\u00a0these partners tend to have a greater level of financial control within the household.<\/p>\n<p>Ms Paech says that if\u00a0advisers can therefore find a way to reach out to women, they will also be reaching out to the key decision-makers within the family and hence boost their potential to grow their business.<\/p>\n<p>The report findings\u00a0confirm there is still a large gap between males and females when it comes to financial literacy.\u00a0 It found that:<\/p>\n<ul>\n<li>Men are almost three times more likely to have good financial literacy and confidence than women<\/li>\n<li>Men are twice as likely as women to have a high level of financial control<\/li>\n<\/ul>\n<p>Ms Paech said &#8220;Australian women need a good injection of confidence &#8211; they need to start asking questions about the best ways to get the most out of their money and take charge of their finances.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Advisers are missing out on opportunities to provide more women with advice\u00a0about their financial future, according\u00a0to CoreData.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4999","post","type-post","status-publish","format-standard","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/4999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=4999"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/4999\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=4999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=4999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=4999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}