What Trump can teach financial advisers about women

These four lessons can help you make your practice more female friendly.
NOV 30, 2016
I never thought I would write a blog about Donald Trump. But I guess most of us never would have guessed that he would become our 45th president. Whether you are sad that he won or just plain relieved that this election is over, his candidacy can teach you a great deal about how to be (and not be) female friendly. Here are four lessons I learned from Mr. Trump that can help you make your practice more female friendly: DON'T comment on women's appearance, shape or size. As someone who worked in the body image field for 15 years, I can't believe our society still doesn't get this concept. Mr. Trump negatively talked about women's appearances, even rating them one to 10 and calling them farm animals. (More: Women find fewer opportunities on Wall Street) I know you would never emulate his actions. But watch the subtle appearance-related comments you make, as it is easy for these remarks to be misinterpreted. My advice is to stay away from these comments altogether. Instead, focus on the inside. For example, note a happy mood, passion for charity or love of her family. DO use language that is inclusive and gender smart. Being gender smart means letting go of the myths about women and men when it comes to finance, business and leadership abilities. Let go of stereotypes, and appreciate the complexity of what it means to be a man or a woman in today's society. Unlike Mr. Trump, who is prone to simplifying race, gender and foreign affairs into neat and tidy boxes, ask curious questions and dive deep into the messiness of what it means to be human. Learn about the client in front of you. Find out what makes her tick. Chances are, it will be a lot more interesting than some gender stereotype. DON'T pressure a client to make a decision. Mr. Trump's sales tactics typically involve an ultimatum. While these high-pressure approaches may have worked 20 years ago, the modern woman doesn't want to be bullied into buying. (More: Why Social Security is crucial to women) Again, I know you would not bully your clients, but you may still use scare tactics that were effective in the past. If your female clients want it, give them time to ask questions and check in with their friends and family before making a hiring or investment decision. It may take longer to close the sale, but think of it as forming a relationship — not making a one-time transaction. DO examine your unconscious gender bias. Whether you were for or against Hillary Clinton, it was clear that unconscious gender bias was at play during this election. Unconscious gender bias happens when our brains, without our permission, decide how to view a situation or a behavior based on what they know about female or male behavior. Research shows that women who display the same leadership traits as men are more likely to be perceived as aggressive and unlikeable. Ms. Clinton was not only the most prepared, competent candidate but also the one who struggled with a likeability issue (and still does). Something tells me if she were a man, her cold demeanor might be viewed as driven and focused. (More: Women-owned advisory firms outperform their peers) To increase your self-awareness and that of those around you, talk about unconscious gender bias. Discuss how it may impact how you talk to female versus male clients, how it may influence your hiring decisions, and how you can make a concerted effort to reduce this bias wherever possible. If you don't know where to start, watch this TED Talk for ideas. While time will tell if we elected the right candidate for the job, I know that if each of us puts into action what we learned from Mr. Trump about being female friendly, the election and all that went with it was well worth it. What did you learn this election cycle that you can apply to your business? Kathleen Burns Kingsbury is a wealth psychology expert, founder of KBK Wealth Connection and author of several books, including “How to Give Financial Advice to Couples” (McGraw-Hill Education, 2013).

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