this is by the numbers where we give you the
numbers that tell the story, the number$5 trillion
. Women are increasing their wealth to the tune of
$5 trillion a year. This is as women control
over one third of the world's wealth. So it's
no wonder Wall Street sees opportunity in marketing to female
investors. And Blackrock is the latest firm to do
. So. The world's biggest asset manager has created
mod portfolios for women which take into account how women's
long term financial needs are different than men's and concludes
that women could benefit from taking on more risk in
their investments at certain times. So what does this
mean for how experts advise women to achieve their financial
goals? I asked Sallie Krawcheck. She is an
early mover in providing financial advice to women and founded
L. A. Vest in 2016. If I
hear one more time women are risk averse and that's
why they don't invest as much as men do.
My head may explode. And what I would say
we've noticed as women tend to be more risk aware
what does this mean? If I'm taking on this
risk, how much could I lose? How much
could I gain? What could it look like?
I want to understand it not, I don't want
to take it, but I want to understand they
want solutions for their problems and one of the problems
they have is when you earn less and you live
longer, you risk running out of money during retirement
. And so no one said I want the one
with the pink on it please For women, what
they want is I'd like to have a secure retirement
. I'd like to buy the home I want to
buy. I'd like to start the business. I
want to start the way we solve it at L
. A. Vest is with a highly personalized engagement
through a digital advisor. Someone call it a robo
advisor in which they put in their personal information.
They tell us what goals they want to achieve and
then we build a highly personalized investment portfolio around all
of those characteristics. We tell them this is how
much you can afford to invest. This is where
the value of your investment should be within a range
over a pit time. We're seeing a really significant
demand for impact investing. And I think part of
the move you're seeing in the investing industry to more
impact is being driven by women. They really are
rejecting the tired, well, you're going to have
to give up financial returns in order to get societal
returns. I just don't believe it. I just
don't buy into it. You investing industry. They
need to work harder to find a way to deliver
both of those. To me