Women and millennials are the target clients for today’s investment firm. Are we ready to meet their needs? Knowing our clients is the best way to retain them, said a CFA Institute blog on June 13. Combined, the two groups represent over 60% of the adult population. Yet more work needs to be done to better understand their respective views about money and finance. The more we understand these clients, the better job we can do for them. I have conducted several focus groups over the last few years, and have learned that there are many similarities between women and millennials when it comes to their attitudes about investing. The most common theme? That money and meaning are not separate considerations. .......... (Sarah Saska, managing partner at Feminuity, and one of the 2015 Canada’s Most Powerful Women: Top 100 Award Winners) spoke in detail about how millennial women think about financial matters: “Overall, I’ve seen the women in my life become increasingly more financially savvy. For me, part of being an independent, millennial woman meant learning how to manage my finances and plan for the life I’m designing. I’ve been day trading since I was 18 to put myself through school, and for the past few years, I’ve run a trading group on WhatsApp with friends and colleagues who work across a range of sectors and industries. This group is one of the best places that I learn. “On any given day, we discuss advances in technology, from artificial intelligence (AI) to blockchain and cleantech. I listen to podcasts and read blogs from platforms such as GoldBean. I also rely on the thought leadership of women like Joy Anderson (Criterion Institute), Sarah Kaplan (director, Institute for Gender and Economy, Rotman School of Management), and Jackie VanderBrug (managing director, U.S. Trust). “As a possible alternative to traditional advisers, I think Wealthsimple is great. They’re disrupting the investment space and allowing everyone to access relatively high-end, sophisticated advice at a low cost. They’re smart, they meet millennials where they are, and enable us to meet with advisers from the comfort of our condos through video chat and text message.”