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GreatLakesTiger24
UCLA Fan
Member since May 2012
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Ignoring Women Costs Finance Firms $700 Billion a Year
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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


RummelTiger
TCU Fan
I'm A Lover, Not A Fighter...
Member since Aug 2004
79325 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
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.

This post was edited on 11/18 at 10:04 pm


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bad93ex
Alabama Fan
The Woodlands
Member since Sep 2018
2931 posts
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re: Ignoring Women Costs Finance Firms $700 Billion a Year
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


arcalades
LSU Fan
USA
Member since Feb 2014
9833 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
Then who is keeping all that money? kudos to whoever is saving all that money


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lynxcat
Rutgers Fan
Member since Jan 2008
20741 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
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.

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 at 10:07 pm


upgrayedd
Lamar Fan
Lifting at Tobin's house
Member since Mar 2013
98069 posts
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re: Ignoring Women Costs Finance Firms $700 Billion a Year
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


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Vrai
LSU Fan
Baton Rouge
Member since Nov 2003
2736 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
Don't pitch the bitch


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Jimbeaux
LSU Fan
Member since Sep 2003
15846 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
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!


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240
slackster
Stanford Fan
Houston
Member since Mar 2009
62955 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
Are women not investing because they're ignored? I find that hard to believe at that scale.


cable
Member since Oct 2018
2696 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
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.


Dandy Lion
Georgia Fan
North Fulton / South Forsyth
Member since Feb 2010
46120 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
quote:

leaving money on the table

hate this saying


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11
lynxcat
Rutgers Fan
Member since Jan 2008
20741 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
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.


GreatLakesTiger24
UCLA Fan
Member since May 2012
36855 posts
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re: Ignoring Women Costs Finance Firms $700 Billion a Year
women. investment. business. empowerment.


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Nado Jenkins83
LSU Fan
Land of the Free
Member since Nov 2012
41841 posts
 Online 

re: Ignoring Women Costs Finance Firms $700 Billion a Year
Women arent good at saving money. Open a financial advisor office next to a shoe store and see which one gets the action


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242
slackster
Stanford Fan
Houston
Member since Mar 2009
62955 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
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.


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Maytheporkbewithyou
Appalachian St. Fan
Member since Aug 2016
7385 posts
 Online 

re: Ignoring Women Costs Finance Firms $700 Billion a Year
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?


Jimbeaux
LSU Fan
Member since Sep 2003
15846 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
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.


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50
slackster
Stanford Fan
Houston
Member since Mar 2009
62955 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
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.


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slackster
Stanford Fan
Houston
Member since Mar 2009
62955 posts

re: Ignoring Women Costs Finance Firms $700 Billion a Year
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 at 10:19 pm


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MF Doom
Houston Astros Fan
I'm only Joshin'
Member since Oct 2008
9356 posts
 Online 

re: Ignoring Women Costs Finance Firms $700 Billion a Year
Good.

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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