Divorcees seeking security, not returns

For Jennifer Failla, the key to working with female clients is looking beyond investment returns. Ms. Failla, principal of Failla Financial Management LLC, an independent advisory firm in Austin, Texas, that works only with divorcees, said that women consider finances only as part of a larger picture, so a more holistic approach is necessary. “Women aren't as concerned about portfolio returns, retirement income or asset allocation. That's not what stresses them out,” she said. “They're worried about making monthly expenses, credit and basic home needs.” Ms. Failla discovered this through reaching out to other professionals who work with divorced women, such as estate-planning attorneys, therapists and family attorneys. It was part of her homework. “We set up interviews with them to find out what was keeping their clients up at night,” she said. “We asked what they were seeing in the divorce arena and how they could add more value for clients.” To better connect with clients, Ms. Failla also rethought her approach to attire. “We took off our drab suits and started to dress more with our personality,” she said. — Jason Kephart