The 411 on the Women’s Wealth Initiative

While Savant’s Women’s Wealth Initiative is new, Savant empowering women to pursue their best financial futures is not.

Certain aspects of this initiative are brand new and others were developed during our first generation women’s initiative called “Savvy Women”. I joined Savant in February 2015 and, along with two other female advisors, we hosted our first Savvy Women event in September 2015. This educational program was created to attract and engage women who were accomplished in their own fields but not necessarily engaged in their financial situations. Nine more Savvy Women events followed over a period of three years. We were pleased to observe friends inviting friends and attendance growing with each event. This grass roots initiative, limited to our Rockford office, was proof of concept: Successful women hunger for educational events with a social component. As a result of this success, we are rebranding Savvy Women as the “Women’s Wealth Initiative” and expanding the program to our clients and other interested individuals throughout our corporate footprint.

Why is an educational program with a social component for women necessary? Is financial advice different for women than for men? We wholeheartedly disagree with those in the industry who suggest information needs to be simplified or “dumbed down” for women investors. Our advice is genderless, but we recognize that women’s priorities and needs are different than those of men. We also recognize the need to create the right environment for effective communication. Some of our best conversations about financial management have occurred in casual, informal settings where women are comfortable to ask questions. As a result of these differences, we believe the Women’s Wealth Initiative is an effective way to educate and empower women in a supportive environment.

As women, we tend to experience breaks in our careers to care for others, live longer than men, and save less for retirement. It’s the perfect storm which makes most women worry about their future. Even if your partner handles the family’s finances, it’s important to be engaged and knowledgeable about your financial situation. The reality is that you are likely to spend some portion of your adult life as a single woman, whether unmarried, widowed, or divorced. Obviously, life’s unplanned events such as premature death, divorce, and disability are extremely disruptive. In my experience as a financial advisor, having a financial plan in place helps reduce stress in the aftermath of one of these disruptions. For all of these reasons, it’s vitally important for you to gain the knowledge you need to maintain financial independence and live the life you envision for yourself.

As women, we tend to experience breaks in our careers to care for others, live longer than men, and save less for retirement. It’s the perfect storm which makes most women worry about their future. Even if your partner handles the family’s finances, it’s important to be engaged and knowledgeable about your financial situation.

Savant recognizes that all of these factors make financial planning critically important for women, and we’ve designed the Women’s Wealth Initiative to help you plan for your future. Our team is multidisciplinary and diverse. We plan to be an agent of change in the way Savant serves female clients. The primary focus of this initiative is to address our female clients’ needs, and in doing so, we will also strive to improve our teams and communities. Our website and newsletter will feature articles on financial planning for women. We will host special events, some educational, others inspirational. Our first event will be in September 2018, which will provide educational and networking opportunities for women in our community. Details will follow, so please be sure we have your contact information for invitations.

In an effort to attract a diverse group of advisors, we will spend time at our local universities to explain the career path and benefits of becoming a CERTIFIED FINANCIAL PLANNER^TM professional. As a public service to our communities, we will host “lunch and learn” programs at jobsites for female employees who want to develop healthy financial skills.

Whether male or female, all of us at Savant have the same mission: to empower you to pursue your best financial futures through education, coaching, and networking in a supportive environment. Our goal is to help you build and manage your wealth by focusing on your unique planning needs.

We look forward to your participation in the Women’s Wealth Initiative, and we encourage you to think of Savant as your first resource for financial information and advice. We are here to help you.