Understanding, communication and authenticity - that's what wealthy women want

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At a time when women control more than 51%, or $14 trillion, of personal wealth in the US and are expected to control two-thirds by 2030, financial service providers aren’t giving women what they want when it comes to wealth management.

This is according to a new report from the Family Wealth Advisors Council, a US-based network of independent wealth advisers.

The study, which analysed responses from 550 women millionaires, said that a “one-size-fits-all” approach doesn’t work. Specifically, wealthy women want to be “understood”, “communicated with clearly” and have an “authentic relationship” with their wealth advisers.

The research added that advisers have to understand “[women’s] entire life picture, not just their finances”, while “tailoring the approach” they take to look after their wealth.