Female Millennials are Advisor's Path to Success

According to Schwab’s 2018 Modern Wealth Index , 31 percent of millennials have determined their financial goals and have a written plan. As a result, millennials are also more likely than older generations to have specific savings goals, work with an investment advisor and regularly rebalance their portfolio.Clearly attracting millennials makes sense, that is why they have become such a ‘hot’ target for the financial community!

So, you want to attract millennials too? We have two suggestions guaranteed to win this group over.

Focus on Millennial Woman and

Help her earn more money

That’s it! It’s as simple as that!Hold an event aimed at Millennial women – title it “How to ask for and get a higher income”. Promote the heck out of it through LinkedIn, Facebook, Twitter and Instagram – after all that’s where you’ll likely find them and, if you need to, spend a few bucks on Social Media help.

We guarantee, there will be standing room only at your event.

Why focus on helping Millennial women earn more money? Because that’s one of the biggest issues they face. And, since you’re in the finance business, helping them with their main “pain” point is how to be most useful to them – you come to it with credibility.The long-term benefit? When you give them useful tips on how to earn more money, they’ll trust you to help them save and invest some of their extra income. It is a great way to start a relationship.

Here are some of the tips you might suggest to Millennial women at the event:

Do your research about the value and the “going” rate for the position.

Build a case for yourself – write it down.

Practice your pitch with a friend.

Set up a meeting with your manager.

Present your case respectfully and with confidence.

Send a thank you note regardless of the outcome.

If you’re turned down for the raise or the promotion, ask what you need to do to get there. Then follow up once you’ve achieved them.

As the host of the event, don’t be afraid to use other people as champions of your message – HR professional, a woman who has already achieved success, a manager who makes these decisions every day, or role play with members of the audience.To make sure you attract the right people and, if it suits your purposes, focus on young women in the accounting, legal, engineering, or other managerial professions.You’ll have the audience eating out of your hands and you will serve a good purpose. It’s also a good time to, take the opportunity to highlight how you can be helpful to them, and get a list of people who may want to stay in touch with you. But be careful, do not to launch into a big sales pitch – it’s the fastest way to lose a prospective female client.Of course, once you get female Millennials to your event, you’ll need to know how to turn her into a client and how to grow and nurture the relationship. When you get to that point, forget everything you’ve learned about how to sell because selling to women is nothing like selling to men.For more on what you need to know to succeed with women who invest, check out our website and consider one of our five courses, order our bookand check out our blogs. All will help you prospect and win with female clients as well as all your clients.Related: Advisors: Why it is NEVER about YOU