Social Security planning as a marketing strategy can be a very important tool in any advisor’s arsenal. Although it may not appear to be as financially enticing as managing large investments, it can help open doors and establish relationships with the clients based on respect and trust.

This very effective marketing strategy can also be very effective in helping financial professionals reach female clients. Experiencing longer life expectancies than men, women face a greater risk of outliving their retirement savings. Studies show that women not only earn less, they also on average spend less time than men in the workforce. For these reasons, women will potentially save less in their retirement funds.

The average women’s Social Security income will also be comparatively lower, making it even more crucial for women to plan Social Security income in the most efficient way possible.

The importance of obtaining professional assistance from a financial advisor as it relates to income planning should not be underestimated. However, female clients often share in various surveys that they feel ignored and under-served in the financial planning world. While it is true that in the past, women typically did not control family wealth, times have changed. Today, women control the majority of wealth in the United States. Additionally, they also make about 80% of the household buying decisions.

Given all these facts, financial advisors who don’t view women as a major target market in their marketing efforts are potentially missing out on a very valuable marketing opportunity.

While this is true, it can be very important to keep in mind that women appreciate a different type of a relationship with their financial advisor. For one thing, research shows that women build stronger connections with their advisors. They also make buying decisions differently.

Because women are typically more cautious in their retirement planning efforts than men, studies also show that women are more apt to respond to educational learning events. For this reason, Social Security workshops can be a very good way to help introduce you and the services your firm has to offer this valuable demographic. These educational events provide an excellent opportunity for women to discover why it even more important for them to learn ways to maximize the amount of Social Security benefits they will be eligible to receive as they plan for a safe and secure income in retirement.

EXPAND YOUR TARGET MARKET! At Resource Solutions, we have a complete turn-key marketing strategy specifically designed to effectively target female clients. Call our Marketing Specialists at 866-855-3710 or click here to learn more.