Advisors Share Their Strategies For Serving Women

Laurie Fried, a partner at Cerity Partners, a national firm with offices across the country, said serving women clients effectively may start with working with both the husband and wife.

“I always knew I wanted to work around women and money and now I work with many women in their 50s and 60s who are taking control of their financial lives,” Fried said.

One couple who became clients were happily married for 50 years and the husband had always handled the money. Fried knew she had to develop a relationship with both in case something happened to the husband.

“This was a lovely thing for the husband to do as a way for him to look out for his wife. They are in their 80s and realized this was a transition time. I call that a love story,” Fried said. “This has happened to me a couple of times, and I work with the wife so she understands what she needs to know about the family finances.”

Some women are coming from a place of uncertainty at first. Fried worked with one client so that she could buy a home on her own, make an estate plan and set philanthropic goals.

“Women want to show they have the power and knowledge to take care of their financial lives. That’s how we change the world,” Fried said.

Read More at Financial Advisor Magazine.