Leadership & Opportunity - New Stats on Dual Earners Point to New Needs in Financial Planning

Statistics Canada released two studies in April that point to a need for a different approach to financial planning for dual earning couples in Canada and, in particular, for highly educated working women, who have recently closed the earnings gap with their male counterparts. Advisors in the know about needs of this constituency have a great opportunity to win trust and provide ongoing service to this demographic.

According to the study entitled Hours and Earnings Of Dual-Earner Couples released on April 24, 2009, the gap has been closing on the difference in earnings and working hours of Canadian husbands and wives. From 1997 to 2008, the average weekly hours worked by wives increased steadily, while during the same period, husbands were putting in fewer hours on the job. At the same time, women's average weekly earnings increased at a faster pace, although most dual earner wives still contributed less than half of the total family income.

Education is one of the reasons for the closing of the earnings gap. The National Graduate Survey, published on April 22, noted ìshowed differences in terms of earnings from one level of education to another. The largest earnings gap existed between the bachelor's and master's levels, suggesting that investing in further postgraduate work is financially beneficial.î

Leadership and Opportunity in Turbulent Times, the theme of this year's Distinguished Advisor Conference broaches these new demographic issues with experienced advisors at this year's event, being held November 8-11 in Tucson, Arizona. In fact, the roster of speakers on the substantive agenda are reflective of a new guard of leaders in financial services as well, featuring a number of high profile women:

For more information and to see the full conference agenda, visit the Knowledge Bureau's website at www.knowledgebureau.com/DAC.