Female Planners More Client Oriented

July 2005
Journal of Financial Planning;Jul2005, Vol. 18 Issue 7, p18
Academic Journal
This article presents the results of study by the Financial Planning Association (FPA) and the asset management firm of OppenheimerFunds Inc. which found that female financial planners in the U.S. are more client-oriented and have a higher percentage of high net worth clients than their male counterparts, as of July 2005. The FPA and OppenheimerFunds surveyed male and female FPA members and found some interesting contrasts, including 86 percent of female planners versus 75 percent of male planners feel they are more effective managing clients than money, and they tend to enjoy this aspect of the business more than men, female planners depend more on obtaining referrals from professional contacts than men, who depend more on client referrals, 10 percent of female planners have practices with 500 or more clients, versus 7 percent of men and 29 percent of the women surveyed have high net worth clients versus 22 percent of the men. Lauren Coulston, assistant vice president and manager of Advocacy Programs at OppenheimerFunds, said that women are more likely than men to spend additional time on client service, which is important to building a practice and keeping clients satisfied.


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