Wealth paths for women and families at Somerset

At Somerset we are a research-based practice. Five years ago, we began studying women and their relationship with money so that we could get into the weeds when it comes to the most challenging life issues. We don’t treat women as a “niche” because women make up half the population, and they don’t all have the same concerns. It’s no secret that the financial services system was built for men by men, so Somerset is rewriting the standards for how women are treated by financial professionals. Here’s a few ways that we are different:

1. We aren’t going to throw you a women’s conference, and we won’t be painting our website pink for you. At Somerset, we have been and will continue to dig into the true challenges and opportunities for women on their paths to wealth accumulation and distribution. Notice we say “paths” because not all women are alike. There are some identified wealth paths that we have observed and can help you follow, and we invite you to investigate our communities within the women and families of Somerset.

2. We aren’t going to assume if you are a divorcee or widow that you are a “woman in transition.” Yes, things have changed, but we have found when you create the correct structure, the best is yet to come. Truly. Divorcees face different wealth obstacles than widows. At Somerset, each community – divorcees and widows is treated with their own care and keeping. Even though you are divorced or have lost your spouse, we are committed to not treating this as your entire identity. Our professionals look forward to exploring your values and goals for this next chapter. We want to connect you with interesting resources and people to help you and your family.

3. We aren’t going to call you a female entrepreneur; you are an entrepreneur, full stop. Building a business is not easy, and for women, the path is even more difficult as you get older. A Bank of America poll of women small business owners found 29% don’t believe they’ll ever have equal access to capital. Your business finances are enmeshed with your personal finances, and we will walk alongside you to make sure the team and structures are in place for optimal wealth accumulation, whether you are creating a family heirloom or preparing your business for sale or an equity partner.

4. We aren’t going to look at your spending as silly. There is no judgment here; you pay us to tell you the truth. We have found that many families struggle with cash flow planning as they enter their forties and fifties. We run extremely detailed cash flow plans for families so you know exactly where your hard-earned money is going. We drill down into your family wealth values set to make sure your spending and values are aligned.