Baird Offers Advice to Women Seeking to Get More Engaged with Their Finances

Angela Krause-Lane: “The more knowledgeable you are, the better advocate you can be for yourself.”


MILWAUKEE, April 5, 2017
– Research suggests that the majority of women would like to be more engaged with their finances, but a lack of knowledge and confidence especially when it comes to financial planning and investing may be holding them back.1 A recent study showed that 61 percent of women wish they had more confidence in their financial decision-making and 63 percent wish they knew more about financial planning and investing.2 It’s no secret that women need to make planning for their financial future a priority. Over their lifetimes, women often earn less money and take more time off from work than men, which has an impact on their retirement readiness and Social Security benefits.

As part of her practice, Angela Krause-Lane, a Financial Advisor in Baird’s Oconomowoc, Wis., wealth management office and President of the Baird Women’s Advisory Council, encourages her female clients at every stage of life to take an active role in managing their family’s finances and planning for their future. “It’s never too late to build or fine-tune your financial skills,” she said. “The women I work with who have taken steps to become more engaged in the financial decision-making process find it empowering and feel that it gives them a sense of control over their lives. The more knowledgeable you are, the better advocate you can be for yourself.”

Krause-Lane recounts advising a woman in her 70s about money and investing. The woman and her husband were longtime clients and both retired. He had worked outside the home and taken the lead on money matters over the years. But, the woman had an IRA in her name and she wanted to decide how to manage her money as she would soon be taking the required withdrawals.

“We scheduled one-on-one meetings to talk about the basics of investing,” Krause-Lane said. “We met without her husband, so she could ask questions freely without feeling intimidated. She wanted me to help her research and make investment choices that aligned with her interests. She also attended educational seminars to learn more about topics such as estate planning and leaving a legacy.” The guidance Krause-Lane provided gave the woman the confidence she needed to become a more active participant in the couple’s financial affairs moving forward. 

When working with a new client or one who hasn’t been engaged in the financial planning conversation previously, Krause-Lane makes a point to start by talking about what money means to them and what their goals are. From there, she explains what it means to be self-directed or to work with an advisor, and helps them understand the different types of investments and approaches to investing.

According to Krause-Lane, who lost her father at a very early age leaving her mother to raise the family as a single parent, preparation is key to being able to handle any situation life throws at you. She shared several ideas to help women build their knowledge and confidence about money and investing:

  1. Talk to a financial advisor. Whether you have or are considering establishing a relationship with one, a financial advisor is a great place to start. “Trust me, most advisors are happy to teach you what they know, and to spend time answering your questions and sharing resources that can help you gain financial knowledge,” Krause-Lane said.

  2. Sign up for a class or seminar. Many advisors and wealth management firms offer educational seminars and materials on topics important to couples and families. Your local college or university, park and recreation program, or senior center may be a good resource as well. This can be a non-threatening way to learn about financial planning especially if you bring a partner or friend along.

  3. Learn from your spouse or partner. If your partner is savvier about money management and investing than you are, ask them how they learned about investing and what their approach to making financial decisions has been. A close friend you trust can share insights as well.

  4. Address your fears and concerns. Many of us have fears about money that can hold us back by hindering our ability to make good financial decisions. Common concerns might include running out of money during retirement or not having a safety net if life throws you an unexpected financial challenge. You may find that those concerns lose their power when you talk about them and when appropriate, turn them into action items. For example, you might find that taking steps to build up your emergency reserve helps you sleep better at night.

  5. Make a plan. If you’re feeling overwhelmed, you’re not alone. Nearly two-thirds of women report feeling overwhelmed by the financial information and the various investment options available to them.3 Stick with the tried-and-true basics of financial planning – set goals and create a solid financial plan that reflects what matters to you. Importantly, take time to review your portfolio on a regular basis with your financial advisor, working with them to understand when to rebalance or adjust your investments, and checking to make sure your beneficiaries are in good order. 

To schedule an interview with Krause-Lane about steps women can take to get more engaged with their family’s finances, contact Baird Public Relations at (414) 765-7250 or publicrelations@rwbaird.com.  

About Baird Women Advisors
Established in 2008, Baird Women Advisors is a group comprised of women financial advisors at Baird. By bringing these advisors together to network and share best practices, the group is committed to promoting the profession and making Baird the best place to work for women in wealth management.

About Baird
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 3,400 associates serving the needs of individual, corporate, institutional and municipal clients. Baird has more than $169 billion in client assets. Committed to being a great place to work, Baird ranked No. 4 on FORTUNE’s 100 Best Companies to Work For in 2017 – its 14th consecutive year on the list. Baird is the marketing name of Baird Financial Group. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s investment banking and private equity operations. For more information, please visit Baird’s Web site at rwbaird.com.

For additional information, contact:
Baird Public Relations
(414) 298-7250


1 https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/women-fit-money-study.pdf

2https://www.allianzlife.com/about/news-and-events/news-releases/Women-Money-and-Power-Study

3 https://www.allianzlife.com/about/news-and-events/news-releases/Women-Money-and-Power-Study