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Data & Research June 29, 2012
Performance and Partnership Key to Female Investors
High-net-worth women put a high premium on performance and personalization from their financial advisers, a survey by Schwab Advisor Services found.
Reported by Lee Barney
Fifty-eight percent value good, consistent performance, compared with 39% who believe a long-term financial plan is more important.
The survey also found 65% of respondents consider themselves financially
independent, and 93% consider themselves either the primary or shared
decisionmaker for household finances, as do 84% for investments. High-net-worth women
also hold their advisers to high standards for personalization and holistic
service, with 84% wanting their adviser to consider their long-term financial
needs, 82% their whole financial picture and 70% their current life stage. In
addition, 40% want their adviser to consider their immediate needs, and 35% seek
help with their children’s financial needs.
“Women—like any serious long-term investors—want advice that is intended for
their specific financial situation, long-term plans for their desired lifestyle
and accountability in terms of investment performance against goals,” said Bernie
Clark, executive vice president and head of Schwab Advisor Services. “Advisers
who excel in these areas will be the most successful when it comes to working
with high-net-worth women.”
Koski Research surveyed 500 high-net-worth women between age 30 and 70 with average investable assets of $1.3 million for Schwab between May 25 and June 4.