Connecting with mothers as a financial advisor

As there are different paths to motherhood, financial advisors must probe to understand their profiles and lifestyles and create a genuine connection with them. Angelika Lola, a two-year MDRT member from Quezon City, Philippines, shares, “As a former marketing professional, I was trained to build harmonious relationships with clients.” As she had done client management before and dealt with different personalities, it was easy for her to connect with her prospects and clients as a financial advisor.   

Lola shares since her own mother wasn’t a big believer in insurance, she knew she needed to be more proactive in helping other mothers secure themselves and their families. “I want to lead by example of how insurance can help us, especially when something happens, which applies to the mothers I speak with. I want them to feel we are building a safety net for their family.”     

When building relationships with mothers, “I always remember and greet them on special occasions, such as birthdays, anniversaries, Mother's Day, and Christmas. I listen to their adventures in motherhood with an eye on how I can help make their journey easier through financial advice and products. I relate to them by opening up about my relationship with my mother and how I aspire to be a good mother too.”    

Whenever she learns about new products or upgrades that might benefit mothers, Lola thinks about how they align with their financial needs. “I have a client, who is a mother, looking for an endowment plan with a guaranteed return. When I learned that she would use the returns to support the needs of her child, I thought of a product that could be a three-generational plan that could be enjoyed not only by her child but also by her grandkids. She immediately signed up for the plan because she could still provide for them even when she’s no longer around.”      

She emphasizes the use of emotional selling when connecting with mothers. “My goal is to make my prospects and clients feel an emotional connection to the products by highlighting how it can be helpful to them during unexpected circumstances and helps them reach their goals, and also by sharing my clients’ experiences in insurance and investments.”  

Lola highlights the importance of knowing and understanding the life situation of the mothers. “Most of my clients are young mothers who are between 23 to 29, a mix of single and married women. While they are still starting their careers or have a few years of working experience, they want to improve their financial situation, which is why I provide easy-to-digest materials, such as a list of product benefits and premiums in bullet points with coverage and benefits. On the other hand, more experienced professional mothers aged 30 to 40 already know what they want, so they get insurance plans with endowments to secure their kids' future. These mothers like a very detailed presentation of each plan, including a comparison chart among products by other organizations, as they want to see why they should partner with me and my company.” 

Furthermore, Lola points out financial advisors should factor in the decision-making hierarchy of the family. “We notice the hierarchy towards the latter part of the discussion as some mothers will either sign up on the same day or take a few days to connect with me again. If the mothers are the primary decision-makers, they respond faster. On the other hand, if the couple decides as a unit, it may take them a while to get back to me. I would advise staying in touch with them while they consider the financial implications on the whole family.”    

Another piece of advice Lola shares is to evaluate their financial literacy to manage time better. “Based on my experience, the conversation is shorter than usual if the client is financially literate as we’re already able to discuss their personal and financial challenges and goals. With young mothers, we start with financial education before prescribing products. On the other hand, financially literate mothers tell me what they want and what they are looking for. The challenge is making it easier for them to evaluate our products through simple product explainers with benefits and premiums. As we know, mothers have a lot on their plate, so we must be thorough yet clear during our discussions.”    

Contact: MDRTeditorial@teamlewis.com