Wealth Management
Women make more referrals than menPosted by RJ and Makay on Apr 25, 2012 |
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Earning the trust of women is always a challenge to us men. But as in other areas of our lives, it can pay dividends in the world of financial advice. Women that are happy with an advisory firm are far more likely than men to recommend the firm to their friends and family, according to Kathleen Burns Kingsbury, a wealth psychology expert. Over a lifetime, female clients will on average make 26 referrals to their financial advisor, compared to 11 by the typical male client, Kingsbury said at the annual conference of the Investment Management Consultants Association.
Ameriprise Financial reported first-quarter 2012 operating earnings of $335 million, or $1.45 per diluted share, down from $344 million, or $1.33 per diluted share a year ago. Net income from continuing operations was $245 million, or $1.06 per diluted share, compared to $312 million, or $1.21 per diluted share for Q1 2011. The earnings beat analysts’ estimates of $1.38 per share.
Former executives of E.F. Hutton are starting a boutique investment advisory firm, and will revive the E.F. Hutton name with the hope that the firm can attract brokers and customers more than twenty years after the firm agreed to merge with Shearson Lehman Brothers under a cloud of controversy. The new E. F. Hutton will be led by Frank Campanale, the former executive of the Smith Barney Consulting Group, the successor to Hutton’s money management group.
