Investing in Women Newsletter - Summer 2013
- The gender factor - How to engage women in retirement plans
- Seizing the future - Women charting the course ahead … across generations and around the world
- Investor of the Future - The quest for tomorrow’s affluent clients starts today
- Women and financial advising careers – Perspectives and priorities
- Boomer expectations for retirement: 2013 – Third annual report on retirement preparedness
- Practice Management Tool: Women & Sustainability – The facts behind an enduring connection
- Advisor Profile: Kathleen "Kathy" Leonard, The Leonard Social Investment Group, UBS
New and Noteworthy:
Reports and information that can make a difference for you
Gain insights on how women engage in employer-sponsored retirement plans
The gender factor: How to engage and motivate women in retirement plans explores how women think about retirement, when women engage in the retirement planning process, and actions women take in their retirement plans. Understanding the findings of this Lincoln National study can make a difference in the growth of your women clients’ retirement savings and your retirement planning practice.
Read more by visiting the Lincoln National website.
Market to the first truly global generation of consumers
Seizing the future: Women charting the course ahead... across generations and around the world reports women are charting the course of the future and explores their lives, lifestyles and marketplace impact. The study from Fleishman/Hillard, Hearst Magazines and Ipsos Media CT examines Gen Y, aged 21-34; Gen X, aged 35-49; and Baby Boomers, aged 50-69; calling Gen Y women "the first truly global generation of consumers."
Read more at the Fleishman Hillard website.
Understand how the affluent population is changing
Investor of the Future: The quest for tomorrow’s clients starts today investigates the ways in which the affluent population and the financial needs of its members are changing. Women, minority groups and younger investors comprise a growing percentage of the affluent market according this report from Pershing LLC. Understanding this demographic shift can uncover new opportunities for growing your advisory business.
Read more by registering for free (required) at the Pershing website.
See why recruiting women financial advisors may be critical to long-term business growth
Women and financial advising careers: Perspectives and priorities establishes that, in recruiting new talent, women offer tremendous potential that, to date, many financial advisory businesses are missing. This survey by the Insured Retirement Institute discusses the attributes that make women excellent financial advisor candidates and how you can make your recruiting efforts more successful.
Factor changing retirement attitudes and expectations among Boomers into your business strategy
Boomer expectations for retirement 2013: Third annual report on the retirement preparedness of the Boomer generation. Less confident and growing more uncertain of what life in retirement will be like, the outlooks among Baby Boomers for retirement are changing. This report from the Insured Retirement Institute finds that financial advisors are playing an essential role in helping this generation approach retirement confidently.
Practice Development Idea
Women and sustainability – The facts behind an enduring connection
Pax World has documented the growing influence and leverage women are gaining in business and finance. These facts are inextricably intertwined with women’s attitudes about investing and working with financial advisors. Download this succinct two-page presentation of compelling facts and figures that illustrate the importance of women’s contributions to business, society and sustainable investing. These insights can be essential to setting strategies that can increase the role women play in your practice as clients and as advisors.
Kathleen "Kathy" Leonard
The Leonard Social Investment Group
First Vice President, Wealth Management
UBS Financial Services, Inc.
Kathy Leonard's greatest strength may be her ability to sense shifts in the financial services business and apply her values and beliefs to leverage them for the benefit of her clients and advisory practice. Kathy brings experience from tenures with other top brokerage firms and as head of her own registered investment advisory firm to her leadership of a team of four at The Leonard Social Investment Group. Kathy is a founding member of the Environmental Council at the Boulder Chamber of Commerce and the Colorado Chapter of Business for Social Responsibility, serves on the finance and investment committees of a number of local and national nonprofit organizations, and twice was recognized as Community Investing Advisor of the Year.
How did your interest in a sustainable investing approach develop?
I came to the financial services industry with experiences driving positive change through involvement in politics and community volunteering. During representative training, I developed the view that by helping people understand how their investments can positively impact businesses, their community and our world, I might engage them more personally and passionately in their investment plans than other financial planning approaches might.
Has time changed the sustainable investor?
Yes. The landscape changed in the 1980s. Before the shift, what was commonly called socially responsible investing was largely the domain of individual investors. At about that time, larger institutional, high net worth, and ultra-high net worth investors began making larger allocations to social or sustainable investing mandates. With larger mandates, the demand increased for institutional quality investment strategies, guidance, and service.
How did that affect The Leonard Social Investment Group?
I was running my own, independent registered investment advisory firm at that time. I had to make a choice. I closed the advisory firm and we affiliated with UBS which provides resources and related products and services our larger clients require. Combining our team’s expertise and experience developing sustainably managed, risk-adjusted return strategies with UBS’s breadth of capabilities and research resources proved to be the right decision.
UBS has a longstanding commitment to sustainable investing research and management. The firm recently released a report that presents sustainable investing as an approach that delivers competitive investment results and is an imperative for today’s economy. (Review UBS Research Focus: Sustainable Investing here.)
What characteristics among the members of your team help to make them effective?
Many academic studies demonstrate that diverse groups make better decisions than homogenous teams. I built this team very deliberately to embrace the value of diversity. Phil (Phil Kirshman, CFA, CFP, account vice president), Viki (Viki Kirk, senior client services associate), the most recent addition to the team, Heidi Cuppari (financial advisor), and I have different backgrounds, opinions and approaches to our work. We believe that diversity leads to better decision making and services for our clients.
We develop complex products and services for each client. We need to understand each risk/reward profile and model asset allocation and strategic asset management solutions based on each profile. We search for asset managers and investment strategies that are appropriate for the investor’s objectives and policies. And, we monitor those managers, often providing discretionary management support through a core/satellite approach. Successfully executing these responsibilities depends on making the best choice at each critical decision point along the way. The diversity of experience, opinions and knowledge that each team member brings to our discussions is essential to making sure we consider appropriate alternatives.
Over the course of your career, you’ve anticipated shifts in investing and how service can be effectively delivered to your clients. What’s the next shift?
There are shifts occurring right now in our business from product design to service delivery. One example is the way advisors are leveraging the growth and power of social media and communications technology. Not every trend we see today will endure but, when these shifts occur, we need to be present so we can evaluate them and be open to employing the best outcomes for the benefit of our clients.
For additional information, visit: www.financialservicesinc.ubs.com/team/lsig/
Gender Diversity Initiatives,
Pax World Management LLC
Pax World recently launched its Women & Wealth initiative to provide women and their advisors with the knowledge and tools needed to face the financial challenges unique to them, such as overcoming the wage gap, suddenly becoming single or a widow, serving a dual role as earner and caregiver, and planning for retirement. The program includes workshops, written materials and other planning tools.