In many ways, according to former big bank executive Sallie Krawcheck, women are a larger emerging market than China.
Krawcheck, chairwoman of the Ellevate network for professional women, brough that message Monday to the crowd gathered in New York for the IMCA 2015 New York Consultants Conference.
"What if I told you there's a potential client base that holds a majority of wealth in this country, represents 45% of U.S. millionaires, will inherit 70% of the $41 trillion that enters generational wealth transfer over the next 40 years?" Krawcheck asked.
"Ninety percent of them control their money on their own at some point in their lives; they represent today 60% of college students and a greater percent of graduate students and still growing. They start more businesses at twice the rate of the rest of the population. They're first-time homebuyers at a greater rate than the rest of the population. They're breadwinners or co-breadwinners in 60% of households, and they live longer than the rest of the population by 6 to 8 years and they're healthier while doing so. You'd say, 'That's one helluva market, Sallie.'"
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