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Message
Ignoring Women Costs Finance Firms $700 Billion a Year
Posted on 11/18/19 at 9:58 pm
Posted on 11/18/19 at 9:58 pm
LINK
I'm not an expert but 700 billion a year seems a bit high
quote:
The male-dominated finance industry is missing out on more than $700 billion a year in revenue by failing to listen to or tailor products for women, according to management consultancy Oliver Wyman.
“Women are arguably the single largest under-served group of customers in financial services,” Jessica Clempner, the report’s lead author, said in a statement Tuesday. “Firms are leaving money on the table by not listening to and understanding their women customers.”
I'm not an expert but 700 billion a year seems a bit high
30
Posted on 11/18/19 at 10:01 pm to GreatLakesTiger24
Runs to GoDaddy...
...grabs www.ladiesfirstfinancing.com...
...creates financial products revolving around fashion, beauty, and travel...
...profits to the tune of $7 tres commas p/yr.
...grabs www.ladiesfirstfinancing.com...
...creates financial products revolving around fashion, beauty, and travel...
...profits to the tune of $7 tres commas p/yr.
This post was edited on 11/18/19 at 10:04 pm
Posted on 11/18/19 at 10:01 pm to GreatLakesTiger24
quote:
The problems are compounded by lack of women in senior management in the finance industry. Just 20% of finance executives globally are women, up from 16% in 2016, the report said.
Old white men are the problem
Posted on 11/18/19 at 10:01 pm to GreatLakesTiger24
Then who is keeping all that money? kudos to whoever is saving all that money
Posted on 11/18/19 at 10:02 pm to GreatLakesTiger24
I’d love to see the calculations for that large if a figure. It would seem this assumes that women want significant banking services that they currently forfeit because they are underserved.
Ok...so 71% if the $700B is from life insurance policies for women. Why would all women (or better said, the same rate as men) need to have a life insurance policy? There are benefits to marriage; not everyone needs a life insurance policy. Men are still the breadwinner in the majority of households and are the ones covered by such policies.
quote:
For example, if insurers sold life policies to women at the same rate as to men, they could generate $500 billion in new premiums, Oliver Wyman estimated.
Ok...so 71% if the $700B is from life insurance policies for women. Why would all women (or better said, the same rate as men) need to have a life insurance policy? There are benefits to marriage; not everyone needs a life insurance policy. Men are still the breadwinner in the majority of households and are the ones covered by such policies.
This post was edited on 11/18/19 at 10:07 pm
Posted on 11/18/19 at 10:03 pm to GreatLakesTiger24
quote:
I'm not an expert but 700 billion a year seems a bit high
No one leaves the better part of a trillion dollars on the table because muh sexism
Posted on 11/18/19 at 10:05 pm to GreatLakesTiger24
Don't pitch the bitch
Posted on 11/18/19 at 10:05 pm to GreatLakesTiger24
quote:
failing to listen to or tailor products for women,
What does a financial product tailored to women look like?
Does it earn better interest? If so, I’d like to get a shot at that womyn portfolio cash!
Posted on 11/18/19 at 10:05 pm to GreatLakesTiger24
Are women not investing because they're ignored? I find that hard to believe at that scale.
Posted on 11/18/19 at 10:07 pm to GreatLakesTiger24
It's just more b.s. to pander to some women's desire to be a victim and not held accountable for their own bad decisions.
Posted on 11/18/19 at 10:08 pm to GreatLakesTiger24
quote:
leaving money on the table
hate this saying
Posted on 11/18/19 at 10:09 pm to cable
I can buy women not being served well from a financial advising standpoint but that’s not just women rather the general population. The industry makes financial planning wayyyyy more complex than it needs to be and profiteers because of it.
Posted on 11/18/19 at 10:09 pm to slackster
women. investment. business. empowerment.
Posted on 11/18/19 at 10:09 pm to GreatLakesTiger24
Women arent good at saving money. Open a financial advisor office next to a shoe store and see which one gets the action
Posted on 11/18/19 at 10:10 pm to GreatLakesTiger24
quote:
I'm not an expert but 700 billion a year seems a bit high
$700B is roughly 6x the revenue of JPMorgan. There is simply no way that kind of money is on the sidelines.
Posted on 11/18/19 at 10:14 pm to GreatLakesTiger24
Don't know about y'all, but my wife doesn't give two shites about finances. She leaves all of that up to me. How would somebody cater to her when she doesn't care?
Posted on 11/18/19 at 10:16 pm to GreatLakesTiger24
I’ve got an investment plan for women:
First, women have to agree to let their best friend go into their closet when they’re not looking and steal all of their skinny clothes and uncomfortable party shoes that they no longer wear.
Then those clothes are sold to other women at the Women’s Financial Investment Fashions clothing store.
The money is then invested in your typical mutual funds.
Profit.
First, women have to agree to let their best friend go into their closet when they’re not looking and steal all of their skinny clothes and uncomfortable party shoes that they no longer wear.
Then those clothes are sold to other women at the Women’s Financial Investment Fashions clothing store.
The money is then invested in your typical mutual funds.
Profit.
Posted on 11/18/19 at 10:16 pm to GreatLakesTiger24
quote:
For example, if insurers sold life policies to women at the same rate as to men, they could generate $500 billion in new premiums, Oliver Wyman estimated. Women also tend to hold more of their assets in cash rather than stocks and bonds, costing wealth and asset managers a potential $25 billion in fees.
Some of the shady math.
Posted on 11/18/19 at 10:19 pm to Maytheporkbewithyou
quote:
Don't know about y'all, but my wife doesn't give two shites about finances. She leaves all of that up to me. How would somebody cater to her when she doesn't care?
The counter would be your wife doesn't care because no one has tried to appeal to her, but your story is pretty similar across the country.
This post was edited on 11/18/19 at 10:19 pm
Posted on 11/18/19 at 10:26 pm to GreatLakesTiger24
Good.
They can have all the gay little star wars and superhero movies they want just stay away from the finance industry alrite babe
They can have all the gay little star wars and superhero movies they want just stay away from the finance industry alrite babe
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