Improving Financial Services Products for Women

A new study by Cornerstone Advisors and Acxiom examined how the financial lives of women differed from men; the study was conducted before the current crisis; the report found the financial health and performance of women has not improved in the last three years; women rely on fewer sources for managing finances and they find those sources to not be very helpful; there is a confidence gap that shows women are not confident in their financial literacy, men are not confident either as this is a key driver of financial issues overall; just reworking marketing is not the answer, Desiree Dosch, Chief Marketing Officer at SmartPurse and former Head of Women Segment at UBS Global Wealth Management, explains to Forbes, “It’s dangerous to market to women as a group—the diversity of women is broader than it is among men.”; the report highlighted four things women want from financial services, improving financial confidence, more convenience, better communication and better collaboration. Forbes

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