Women and Wealth
Northstar is passionate about serving the unique needs of women. Women today control over 51% of the nation's personal wealth and yet we are still underserved in the financial services industry. We believe that an unbiased, holistic approach is the best way to serve the growing needs women have for financial advice throughout the different stages of their lives.
Important realities face women as their roles evolve:
- Women are successfully competing in the corporate world and/or operating their own businesses. They start new companies at twice the rate of men and own companies that employ nearly 10 million workers. They often do not have the time to adequately attend to their investment portfolios, research their company benefit plans, or plan for successful retirements.
- Women face many life transitions, including the loss of a spouseand divorce that can threaten their sense of well-being. Women older than age 65, are 50% more likely to be divorced or widowed. They live 5 years longer than men, but earn less and typically have less saved for retirement. On average, these women experience a 45% decrease in their standard of living the year following their divorce, while a man's increases 16%.
- Despite significant strides, some women are still not the primary managers of their financial affairs. Many times women have supported the goals of the family without ever truly identifying what is most important to them.
- Women are frequently called on to help manage the affairs of their aging parents and children. This can be both financially and emotionally challenging.
- Some women choose to remain single or have non-traditional life-partners. Northstar can assist in addressing these special investment and estate planning concerns, as well.
For all of these reasons and more, it is important for women build a relationship with an advisor that understands their unique situation, personal goals, struggles, and values—someone who can help them manage their money with clarity and confidence. Our services are designed to help you build a lasting foundation for lifelong financial security and personal success. This includes collaborating with other professional advisors to provide expert advice and best in class solutions.
To help women take control of their financial affairs, we augment our robust life and wealth planning services with a specialized program, Women, Meaning and Money®. This program benefits women who need help managing Financial Life Transitions, such as:
- Coping with widowhood and grief
- Undergoing other intense life transitions, such as divorce, retirement, and legal settlements
- Generally seeking to build a more secure, empowered future for themselves and their loved ones within a positive, nurturing environment
- Need help managing Sudden Money, such as inheritance, lottery, and legal settlements