While we may see talk shows or read discussions on issues related to women like health, safety and salary difference on the International Women’s Day, we thought real empowerment comes with money and who is better than MFDs to make women wealth empowered.
We spoke to a few women distributors to understand the psyche of women clients and tips to deal with them effectively.
Noida MFD Akta Sehgal of Manas Management believes that women are more committed to achieve their financial goals. She said, “Usually, women are more focused to achieve their financial goals but lack decision making. MFDs should help women clients overcome their fear of taking financial decisions. You can educate them about mutual funds, listen to them more to understand their needs and aspirations and offer them solutions.”
Satara MFD Alka Chitnis of The Investment Corner feels that MFDs should focus on empowering women clients with knowledge and give them confidence to become self-sufficient. “Women are good with numbers. They just need someone who can handhold and give them confidence to take money decisions. While many women depend on their male counterparts to take such decisions, if you explain to them about financial concepts in a simple way, they are more likely to invest with you on their own,” said Alka.
Alka shared with us that 60% of her clients are women. She approaches women at vegetable markets and saree shops. She recommends them to start doing SIPs with small amount for future.
Pune MFD Anupama P Juvekar is of the view that MFDs should first make women clients comfortable with them before discussing business. She said, “Women clients seek comfort and trust. Lend them your ear and be their confidante. Women typically juggle multiple chores and responsibilities. They may like discussing things beyond finance and would appreciate your attention.”
Mumbai’s Anulekha Verma of Fission Wealth Advisors and Aequitas Capital says that MFDs should encourage male clients to make decisions jointly with their spouses. “Encourage your male clients to make decisions jointly rather than unilaterally. This can gradually convert a woman’s passive involvement into an active involvement, which in turn makes way for new business,” said Anulekha.
