Tag Archives: LIMRA

The New Face of Wealth: 50% of Millionaires are Women!

Wow, I bet you didn’t know that 50% of millionaires in the U.S. are women, did you?

Millionaires make up 9% of U.S. adults:

  • 50% of those are men, with an average age of 46
  • 50% of them are women, with an average age of 50

50-millionaires-are-women

These days, most wealthy women earn their own wealth. Of women with at least $3m in investable assets, 61% earned it themselves, according to Russ Prince and Hannah Grove in Women of WealthWomen like Facebook COO Sheryl Sandberg, fashion designer Tory Burch and Spanx inventor Sara Blakely are becoming the new face of wealth.

And here’s another shocking fact:

Nobody prospects high net-worth women!

LIMRA, the insurance and financial services trade organization, finds only 50% of female producers prospect women, with only 20-25% of male producers prospecting women. Marketing to these wealthy women is not only smart– but it’s also less competitive!

Consider this heads-up my favor to you. But you’d better act fast before someone else earns the loyalty of these high net-worth women.