How can the financial industry better serve women’s unique needs?
In this episode, Shannon Spotswood speaks about women and money with Dr. Barbara Provost, Ed.D., MS Ed, MBM, founder of Purse Strings.
Shannon and Dr. Provost explore the disconnect between financial services and women’s needs while emphasizing the importance of a personalized approach, citing research on the industry’s lack of empathy.
So, listen in as the conversation focuses on reshaping the financial industry to better support and understand female clients.
Main talking points include:
- Reasons Dr. Provost is dedicated to serving and creating opportunities for women in the financial services industry
- The disconnect in financial products and services suited for women
- Why women need a more personalized and empathetic approach in financial and estate planning
- Dr. Provost’s experiences and interactions with women navigating financial decisions during significant life events
- The financial industry’s lack of sympathy towards women and their unpreparedness for their financial future
- The value of tearing down the traditional financial industry model and replacing it with a more inclusive and empathetic approach
- Practical steps for advisors to engage with female clients, including enhancing listening skills and creating a safe and uninterrupted space for discussions
- The impact of caregiving responsibilities on women’s mental and financial well-being
- And more!
- “How to Win Friends and Influence People” by Dale Carnegie
- StrongHer Money
- “Unreasonable Hospitality” by Will Guidara
- “Giftology” by John Ruhlin
Connect with Shannon Spotswood:
Connect with Barbara Provost:
About our Guest:
Dr. Barbara Provost created Purse Strings so all women could live a life free from financial stress and full of choices. As a consultant in the financial industry for over 20+ years, it was apparent that the needs of the female market were not being addressed. When she went through her divorce and navigated it in a women-led divorce group, she heard these intelligent, bright, talented women voice so many financial concerns. And in her everyday life, she could see women of retirement age working at the stores as she’d run her errands.
As a doctor in adult learning and higher education, Dr. Barbara Provost helped bring the power of the female market to other countries like Nigeria, India, Cameroon, and Vietnam.