New York Life Investments value-add program helps financial advisors support women investors.

Originally published: 3/14/2019

At Bloomberg’s recent  Inspired Investing event, proudly sponsored by New York Life Investments, Yie-Hsin Hung, CEO of New York Life Investment Management, took the stage to share how New York Life Investments is helping financial advisors better engage and work with their female clients. Watch the video here. 

Women are earning and controlling more wealth than ever before, and with that comes the responsibility to secure and grow that wealth. That’s why New York Life Investments recently launched a new value-add program, More than Investing, to help financial advisors better serve this segment of investors. This comes on the heels of a recent study by New York Life Investments of 800 women across the US which revealed that women are an important, but underserved, investment segment. This infographic breaks out the data in detail.

Said Yie-Hsin Hung, CEO of New York Life Investment Management, “We are providing not only invaluable information and analysis, but the actionable practice management solutions advisors need to capitalize on this massive opportunity.”

According to Ian Forrest, Global Chief Marketing Officer of New York Life Investment Management, women investors can be segmented by their life objectives, risk profiles, interest in financial education and relationship with their financial advisor into four distinct sub segments:

• Suddenly Single, women that have been recently separated, divorced or widowed in the past 5 years - 32% feel patronized by financial advisors and 51% may not work with an advisor again
• Married Breadwinner, professional women that represent the primary source of income for the household - 44% feel that financial advisors treat women differently
• Married Contributor, professional and non-professional women whose primary contributions to the household tend to be non-financial - 32% feel unconsciously excluded in conversations with financial advisors
• Single Breadwinner, professional and non-professional women defined as living alone or as a single-family unit - 27% expressed a desire for greater financial education

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