The wealth management industry needs to understand and meet women’s priorities as clients a report by First Abu Dhabi Bank (FAB) Private Banking has found.
Titled ‘Winning Women in MENA: How wealth managers can help further female empowerment,’ the report highlights the distinct expectations women have as wealth management clients.
It revealed that women are increasingly influencing family office and family business strategy in the region and are even given preference over their male counterparts.
High and ultra-high-net-worth contributors to the report confirmed that women share particular needs and preferences that the industry cannot ignore.
To meet the needs of MENA women the report suggested that wealth managers must develop a deep understanding of evolving business and family dynamics.
In particular they need to understand the roles that women play in family businesses and entrepreneurs and take their views into account.
The report urged wealth managers to work with investment firms and regional associations and networks to drive the participation training, initiatives, support and inclusion of women at all levels of the economy.