YOUNG WOMEN AND FINANCIAL INSTITUTIONS

FINANCIAL INSTITUTIONS SHOULD TAKE YOUNG WOMEN SERIOUSLY

Young women are an important part of our population. These young women are the movers and shakers of tomorrow. We presently have the largest population of women across all ethnic groups attending universities and colleges. These young women are the leaders of tomorrow and they are also the majority of the new investors of the future.

The women of today are not afraid to lean in at conferences, and boardrooms across the nation. They want their voices heard and they make sure they are heard.

Women are smart and know how they should be treated. They are the largest group of consumers today. They buy homes, cars and are very involved, in investing.

Most of all they are fearless and are not afraid to leave their present financial institution for something that works for them.

The stories I am hearing from women about their banking experiences are very disturbing.

It is time that financial institutions take them seriously and pay attention to their needs and how their employees interact with this generation of women.

Some employees look down on the women savings plans. They make them feel that the amount of their saving is insignificant. Their plans are not good. Yet they do not offer the client an alternate choice or make suitable recommendations.

Financial institutions should educate their staff to listen to the needs of their client’s, especially young women. Teach them to recognize, that the 22 year old today will be the 27 year old with a much larger income in a few years. They will then be looking for mortgages or investment opportunities. Where will they go, to the staff of their financial institution that treated them indifferently? No they will seek advice elsewhere.

I have advised these women to visit the financial institution and request a meeting with a senior officer. The senior officer is the only person who can alter the behavior of the staff. The transformation of the staff’s attitude will make their banking experiences more focused on their needs and less on the bank’s flavour of the month.

Women also should do their research and be clear and concise about their needs and wants. I recommend they make notes of their plans and goals before going to their financial intuitions. This enables both they and their advisor to stay on track.

Where money is concerned it is important to be punctual and arrive on time for all appointments. If you show that you are committed to your finances, your financial advisor will take the signal from you and act accordingly. She/he will put on their best performance to make sure you are a satisfied customer. Win-win for all concerned.

Tessa-Marie

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