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Out of over 250,000 investors that Finsafe has counselled, only 10-15% are women. Not much has changed in terms of either women’s apathy towards money and investing or their conditioning at home, where the attitude perhaps continues to favour men taking responsibility for all financial matters.
Mrin says change has to begin in each Indian household. Parents have to sit their daughters down and help them understand the need for financial understanding, the importance of financial freedom. Unless this grassroot change happens, not much is going to change, regrettably.
Mrin says we need a woman celebrity to take up the cause of women’s financial wellness – just as Deepika Padukone took up the cause of building awareness of mental wellness. Can AMFI look at creating an educational series for women investors featuring a woman celebrity, as part of its MFSH campaign?
Women who are keen to become financially literate are usually those on whom the responsibility has been thrust by circumstances –single mother, divorcee, death of spouse etc.
Women investors feel more comfortable with women advisors/distributors as they feel men often talk down to them, talk with too much jargon and don’t take the effort to understand them. There is huge scope for more women to enter the MFD profession.
Women investors like to see a more holistic picture rather than a product centric approach, they take their time to reach conclusions but they are also the best source of referrals as they are way more proactive in referring their MFD/RIA than male investors.
Mrin also feels that greater awareness must be created about women MFDs – so that women investors know who to reach out to. Another thought for AMFI – can AMFI create and popularize a separate tab on its website where it publishes a list of all women MFDs by city/pincode?
Absolutely correct. Indian Women have to step up on the path of wealth building. Even AMCs have to arrange the campaign for the financial awareness of women investor and encourage them to think out of traditional investment approach. And those Women MFDs are taking interest to educate and make aware to women investor, Amcs have to support them.
Women MFDs can transform the lives of other women thru a personalised mentoring approach on choosing the right investment opportunities and gaining confidence in handling their personal finances. Women should come out of the shadows of their menfolk and take charge of their personal finances.
This would be great step in ensuring Financial Freedom for women in our country.
VERY GOOD INITIATIVE THIS WILL MOTIVATE THOSE WHO HESITATE TO WORK AS A FINANCIAL ADVISOR
open a separate women Tab in AMFI site be a very good initiative where as in women Investors interest grow in mutual fund investment.
I would agree that a woman celebrity should be roped in to promote investment in MFs.
I beg to differ on the view that only a woman mfd can understand a woman Investor better. I have plenty of lady clients who are very comfortable dealing with.
Having said that, potential women investors need to be encouraged and hand held by MFDs. It’s a very important segment.
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