BMO for Women Survey: State of Financial Planning
In an effort to help us better understand the areas in which women are thriving and how to better support them as they grow and maintain their wealth, BMO conducted a research project gleaning insights from women (and men) business owners. Among the findings, we identified three general blind spots that present most frequently. Bringing these into focus can empower women in business to fully realize their visions.
1. Business Planning. Planning is a key element of business success. While it may be daunting, we can help you get started so you can enjoy the benefits that come with effective business planning.
Our solution: build customized financial solutions to work toward both your business and personal goals.
2. Transition and Retirement Planning. Fifty-two percent of men vs. 33% of women have a detailed transition plan. The main reason business owners fail to have a transition or retirement plan is because they have no plans to sell or retire.
Our solution: take a coordinated approach to business transition and personal wealth planning.
3. Financial Literacy. There is a glaring gap between men’s and women’s financial knowledge.
Our solution: It’s okay to outsource your knowledge. Involving a financial advisor is a proven way to expand your knowledge.
BMO is committed to serving and exceeding the financial needs of women. Our BMO for Women program supports the growth of women-owned businesses and empowers women to feel confident about their finances and their financial futures.
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For more about the survey findings: uswealth.bmo.com/insights/bmoforwomenreport.
