If you want to increase the number of women clients you serve,and strengthen relationships with existing female clients, keepthese facts in mind:

1. Only 36 percent of women say they currently have afinancial advisor;

2. 77 percent of women who do have advisors use them mainly forretirement investment recommendations; and

3. Women feel far less confident than men about reachingfinancial security in retirement, forseveral valid reasons--greater longevity, lower Social Securitybenefits, fewer years of retirement plan participation.

These conclusions are drawn from the 15^th Annual Transamerica RetirementSurvey of Workers.

After reviewing this fact sheet, one of the most effectiveprospecting strategies for reaching women in your market should beclear: Offer women of all ages a free retirement needs analysis(RNA).

An RNA, also called a “retirement gap analysis,” is a coreplanning document for women, because it helps to determineinvestment risk tolerance. Unlike men, who often accept higher riskfor higher returns, women generally are willing to risk retirementfunds only to achieve greater financial security.

By estimating how much money she will need to cover expenses inthe first year of retirement, an RNA helps to define the shortfallbetween income needs and all expected sources of retirement income(Social Security, pensions, annuities, retirement plans).

The greater the shortfall, the more she may need to contributeto her plan, or the more aggressively she may need to invest.

According to the Transamerica survey, women estimate that theywill need, on average, about $800,000 saved or invested at thestart of retirement to feel financially secure in retirement.

But among women who volunteered an estimate, 57 percent admittedthat they had guessed. Only 14 percent said they feel “veryconfident” in their ability to fully retire with a comfortablelifestyle.

To offer women a free RNA, you will need the following:

1. the latest Social Security earnings record and benefitstatement;

2. the most recent retirement plan account statement(s); and

3. information on all savings and investment account balances.

In choosing an RNA fact-finder and illustration software,the simpler the better. An effective model is offered by PrincipalFinancial.