Month: October 2018
Fin-tech and innovation across finance are all the rage today. But this blog post is not about them.
Technology and its more advanced applications, including artificial intelligence, clearly have the power to propel the practice and power of managing money. However, there is still one last frontier that stubbornly resists all attempts of innovation and technology to improve individuals’ financial positions: our brain.
Continue reading “A Surprising New Form of Financial Innovation”
A common thread that runs through much of women’s financial lives is their low level of self-confidence. As an example, see my earlier posts here and here. And yet, does it really matter for the “hard stuff”, i.e., real financial outcomes, that their self-confidence in financial matters is lower? Is it just a quaint gender-based personality quirk that can be safely ignored while we get to the hard business of helping women grow their assets?
Not so fast.
Continue reading “The Negative Spiral of Low Financial Self-confidence in Women”
How do you find out the real truth of what your customers or prospects want, like and hate? How do you make sure that they aren’t misleading themselves or you, regardless of intention, about what their true behavior in the market will look like, when you ask them?
Watching, or asking about behavior in any kind of structured and artificial settings versus watching them when they think no one is looking is akin to watching the behavior of lions in the zoo versus on a safari in the Serengeti – the behavior of real lions “in the wild” may look nothing like what you see in the zoo.
And if you’re looking to address the lions in the wild, you’d be poorly served designing for lions you see in the zoo.
That the wealth market controlled by women is huge is a fact well appreciated by now. There seems to be a new report coming out almost every month, with numbers and insights aplenty on what differentiates this market and what providers need to do to appropriately address this segment. For example, both Accenture and Ernst and Young have put out interesting insights on what differentiates this market from the mainstream wealth market.
Despite this focus and attention, it seems to be a frontier fraught with peril. There are at least three attempts that have not panned out as expected.
Continue reading “What Providers Get Wrong about the Women’s Wealth Market”