Aren’t they all selling the same products and providing the same kind of services and advice? Yes. But how they provide that service and how they run their business isn’t always the same.
That’s why I was excited to discover a new magazine, Sayra (pronounced “Sarah”), for female financial advisors.
Sayra was created by Alexandra Lebenthal, of Lebenthal Wealth Advisors. The magazine was named after Alexandra’s grandmother, Sayra Lebenthal who co-founded Lebenthal Wealth Advisors in 1925 with her husband. Here’s more information about Sayra magazine.
Sayra Magazine, the “Voice of Female Financial Advisors,” is brought to you quarterly by Lebenthal Holdings, LLC. It is distributed to approximately 90,000 female advisors who control more than $3 trillion in client assets.
With this demographic in mind, CEO and President, Alexandra Lebenthal developed and engineered the first magazine ever for them. Sayra contains articles that will help advisors build their business, service their clients, and offer strategies on how to balance life and work. Interviews and profiles of successful female advisors as well as well-known industry and corporate leaders are featured.
I had the pleasure of talking with Alexandra Lebenthal. I asked her why she created a magazine exclusively for female financial advisors. I also wanted to know how the content is different from typical financial industry magazines.
I was conscious of the sad fact that there is such a small percentage of women in the financial industry. Yet there are an astounding 89,000 female financial advisors, and there is a need an opportunity to give them a voice.
Everything is designed to speak specifically to women. In Sayra, we’re not talking about products and asset allocation, that kind of standard stuff. There’s plenty of that out there. We take a more holistic look.
We are creating not just a magazine but a community with Facebook and a LinkedIn group and are eventually hoping to have an annual conference. It’s an opportunity to speak to women in the business, to provide articles and advice and inspiration that speaks directly to them about their business and how to grow it.
Sayra magazine also looks different than your typical financial publication.
“It’s not a standard boring design. When I first started I showed the design to my sister who is a creative director in the magazine world and she said, ‘this looks like something in a strip mall circular. You can’t do this!’ So we got a designer and photos from top fashion photographers. It looks really cool, not like a regular boring financial publication.”
There were two main differences I saw in Sayra. First, there was content focusing on working with female clients. Second, there were many great stories about successful women including Maria Bartiromo and Carrie Gallaway. How often have you seen a financial magazine profile almost all women, unless it was a “Top Women in Finance” edition?
And I believe this is one of the keys of Sayra magazine’s success: Women want to hear from other women about how they build and run their businesses.
I work with a lot of financial advisors, and I see a difference in how men and women build and run their businesses. Sometimes these differences are subtle, sometimes they are glaring. I have noticed that at women advisor conferences, the panels of successful female advisors are extremely popular. Women want to hear how other women have done it – how they grow their business, how they market themselves, how they hire staff – women sometimes approach these things differently.
I’m looking forward to reading more and hearing the reaction from female financial advisors.
You can check out the September 2014 edition of Sayra Magazine here.