Why Banks Talk to Women Differently

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Oh, that commenter was harsh. NO BODY thinks about financially planning unless & when their lives are touched by money: not having enough, finding a windfall, adding to their family, losing a loved one. I've been in retail financial services for 30 years... way before the Internet.
Of course women and men prefer to talk with someone about their financial goals. Money is emotional. Humans prefer the back & forth, give & take of conversation. No one reads anymore - just ask the newspapers. Putting educational information & planning tools on the web aren't utilized much. People need a trusted advisor who is devoted to their needs, not to meeting sales goals or earning commissions. That's why America has 8000 credit unions: to help people find their best fit in an organization that has no reason to sell them anything they do not need.
Use the Internet to find a credit union and financial planning assistance that fits your needs and comfort level. Go to www.CUNA.coop or www.ncua.gov.
Carolyn Warden
Certified Credit Union Executive and Business Consultant

Carolyn Warden, CCUE of IL 4:42PM July 21, 2008

What rock has Larsen been sleeping under for the last 50 years? I have seldom read a statement as condescending as "Women only think about money when it intersects the stories of their lives." If that is the assumption from which financial companies start from, no wonder their campaigns to women have been less than successful.
As a marketing strategist and writer, I would suggest that the banks and investment houses take an unbiased look at the printed and online materials they spew out ad nauseum. Almost without exception, these are stodgily written, clogged with jargon and illustrated with stereotyped photos right out of the clip-art archives (businesswoman with navy suit and briefcase striding through corporate halls; smiling gray-haired couple at Golden Pond; happy at-home mom in kitchen with toddlers).I don't have stats, but I strongly suspect that most men find this stuff equally yawn-producing.
If the financial companies want to attract women as customers, it would make sense for them to examine what women's lives are really about today, instead of assuming a straight line from school to job to marriage to retirement. And it would make even more sense for them to address real-life needs rather than old-world assumptions about women.

Barbara Bonn, New York, NY of NY 2:35PM July 21, 2008

I was widowed in April of 2007, but fortunately in nearly 35 years of marriage my husband gave me a wealth of financial information. Both of us were college graduates, and he had always been in business for himself (the College of Hard Knocks). Hubby trusted me and after two years of marriage put everything in my name. Some experts would call this choice unwise, but he kept educating me about financial matters all through our many years together. He had, by the way, marrried me with two small toddlers in tow. He told me that he knew that he had to take the whole package to get me.
His favorite expression: "Cash talks. Bullshiit walks, and my name is Cash!"
The other comment that I often remember: "Use your head instead of a hat rack! Translation: "You are a smart women. Use your brain, Girl!" Consequently, I now have a beautiful piece of property with a great view of Mt. Jefferson--plus my own PERS pension (I taught high school English for many years.) I would, however, rather have him beside me. He had a wicked sense of humor, and we discussed all manner of things.

Sue of OR 2:03PM July 21, 2008

Current efforts at marketing and educating consumers are based on how men learn. That's why it's not appealing or effective with the majority of women. Another problem is "information smog" which is often used to obfuscate the sales pitches. Financial service providers need to honor how women learn and make decisions rather than dumb things down. They need to earn the right look inside our purses! Nancy Dailey, Ph.D. www.womensmoney.com

Nancy Dailey. Ph.D. of VA 2:41PM July 12, 2008

This is insulting. Women beware and run, run when somebody throws down a 1950's life model at your feet. Run to the bookstore or library and educate yourself--these advisors sure as heck aren't going to do anything but set you up for failure and pick your pockets.

Mary of NM 12:14PM July 11, 2008

"Women only think about money when it intersects the stories of their lives—when they're about to get married...have a baby...funding their kids' education, when they're about to go through a divorce, and then they're widowed," Larson says.
Umm. How about paying for my legal education, investing, buying real estate...? Getting married or having a baby are not even goals in my life. Larson needs to get a grip and a better idea of what some women care about.

Stephanie of NY 2:50PM July 09, 2008