Too often I see married women deferring financial matters to their spouses. It could be due to lack of interest, time or perhaps because they feel they would not gain anything by attending a portfolio review. While it is great to be able to ‘divide and conquer’ tasks, I would say that when it comes to financial matters, it is very important to have both spouses present at meetings. This may not be possible all the time, but there is a lot to gain from attending together, even if it is just once a year. Women should feel empowered when it comes to learning more about wealth creation and stewardship.

Having both spouses present at a meeting allows the opportunity to grow in your investment knowledge regardless of where your base knowledge is at. It is the role of a good Portfolio Manager to ensure that both parties are engaged in the conversation and to bring forth an agenda that discusses pertinent topics, such as a client’s pending retirement and any associated projections that may have been calculated. A good Portfolio Manager will also know how to present just the right amount of information depending on the client. More often than not, I believe these are productive meetings with new insights gained by both parties present.

The importance of being present at meetings is not just for women, but, unfortunately, I have noticed a trend where the women tend to leave financial matters to the men. I think that needs to change, because statistically it is the women who outlive the men. This is all the more reason for the women of the house to have some level of involvement in financial matters, big or small. Being able to put a face to a name and knowing who to call for any investment advice is invaluable.

Janet Kim Sing, Portfolio Manager
Capstone Private Wealth