Advisors and the financial services industry as a whole are not doing enough for women, according to a study by Toronto-based BMO Nesbitt Burns Inc.

The study, released on March 8, found that only 30% of women surveyed feel that the financial services industry is doing a good job of meeting their unique investing needs. Yet more than 80% of women are either solely in charge of finances for their households or work with their spouses jointly on financial planning.

With women making up more than 50% of the workforce and also controlling more than one-third of the wealth in North America, says Charyl Galpin, co-head and executive vice-president with Nesbitt’s private client division, it’s important that advisors and their firms pay closer attention to the financial needs of women.

Here is Galpin’s advice on how you can reach out to your female clients and start building better relationships:

> Arrange for joint meetings
Bring female clients into the discussion by making sure they are at every meeting.

“When [advisors are] dealing with clients that are a part of a couple,” says Galpin, “they should be encouraging them as much as possible to have joint meetings.”

Make sure you address both partners during the meeting, she says, instead of focusing on one person the whole time.

> Provide learning opportunities
Be a resource for clients for learning financial concepts and strategies.

“Women are really looking for more education, ” Galpin says, “and more awareness around their investments.”

For example, you might invite clients to seminars or provide them with educational materials.

> Don’t assume
Even though women may be looking for more education about finances, it’s important to avoid making assumptions about a female client’s investment knowledge.

Most women take care of household finances to some extent and are therefore quite savvy about money, says Galpin. So, it’s important to be aware of your tone when dealing with clients, especially women. While you should avoid jargon, you should also make sure you don’t “talk down” to clients or sound condescending.

> Focus on the long-term
Instead of jumping right into the numbers or products at a meeting, talk with your female clients about their long-term financial goals.

“Women want to have a conversation about what their life goals are,” says Galpin, “and what it is they need to do on the financial side to make sure they achieve those goals.”