Financial issues strike a chord with readers

Readers are still weighing in on some of the issues I've addressed in recent columns.

For example, many people continue to sound off on a local firm's search for women to serve as financial advisers.

A comment posted on deseretnews.com from a reader identified as "Mayhem Mike" spoke of his wife's expertise at managing money.

"For the past several years, she has methodically saved her earnings from a small, part-time, home-based business and recently surprised me with the news that she has enough saved, after tithing and taxes, to pay to completely remodel our kitchen," Mike wrote.

"Our kitchen will be 'first-class,' containing the best cabinets, countertops and appliances, and a testament to my wife's discipline in managing her very modest earnings."

Thanks for the comment, Mike. As I wrote after some previous posters expressed doubts about women's financial management abilities, I don't think fiscal wisdom is gender-specific. My wife and I both have strengths and weaknesses in this regard.

Other readers had a different take on the issue. An online post from "Jane Doe" said the lack of females among the ranks of financial advisers may be due to the profession's emphasis on selling.

"Potentially excellent for women (strong communicators), there is a bit of a sleaze factor, since it is about talking people into things (no desire)," Jane wrote. "It also requires a tremendous amount of time finding clients and building relationships. Women have little time."

Yes, building relationships takes time, and I'm sure there are unscrupulous financial advisers who talk people into buying things they don't need. However, based on my conversations with dozens of advisers over the years, I believe the vast majority are genuinely concerned for their clients' financial futures. If that is the case, it would reduce the "sleaze factor."

Another online post, from "Felicity," echoed Jane's thoughts.

"If you have ever walked into a financial adviser's bull pen at these institutions, you can tell in a second it is a boys' yuk-yuk club," Felicity wrote. "It's a turn-off to women, which is why they turn and walk away."

All the more reason to get more women in the club!

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