While the Great Wealth Transfer is coming, we don’t know when or to what extent. The cost of living is skyrocketing, and boomers and the Silent Generation are spending more of their savings on daily expenses, espeically for health care, long-term care and housing. Only time will tell just how much will be left for Gen X, millennials and Gen Z to inherit. But here are a few things we do know:

Women are set to inherit a significant portion of this wealth, as much as 70%, according to studies. By 2030, women in the U.S. are expected to control $34 trillion, up from $7.3 trillion a decade ago.

Financial firms that retain baby boomer women as clients could see one-third higher revenue potential. Those that acquire and retain younger women could see four times faster revenue growth.

Women tend to have different investment priorities than men, and yet, the vast majority of financial advisors are older white men who don’t understand the nuances of serving female clients.

In one Boston Consulting Group study, 64% of women said their financial institutions don’t get them. J.P. Morgan found this sense of frustration is further amplified for Black and Latina women, who are three times more likely to report a bad experience or to say financial services do not fit their needs.

In short, the industry was never designed for them — and major financial brands aren’t trying to make up lost ground. That’s a problem.

That’s why we’re seeing more female-focused financial start-ups including Ellevest, Dow Janes, and Wealth Me Up — companies that exist because women are tired of being treated like an afterthought by the boys club of finance.

So, should brands partner with female-founded financial groups? Should they bring in new female leadership? The answer to both questions is yes.

Otherwise, any attempt to position themselves as an investment place for women will feel like lip service.

Pay attention to women’s attitudes and expectations

You can’t serve an audience if you don’t bother to learn what they expect and want.

And as stewards of their family’s wealth — after all, women are often primary financial decision makers — brands need to “get” women and grasp their concerns.

For example, research by Equitable found that 90% of women look for a financial professional who understands their life goals beyond finances.

It’s not about needing different products; it’s about needing a different approach. Personalised advice, tailored strategies, an understanding that women are often more risk-averse and goal-oriented. Less meme stocks, more long-term security.

Be proactive. Consider conducting research to understand what consumers want, and design with them in mind. For example, Ellevest’s “algorithm takes gender identity into account, understanding that women earn less, our salaries peak sooner, and we live longer. Pretty important stuff. At least if you’re a woman who doesn’t want to run out of money in retirement.”

Primary consumer research, especially deep qualitative research is essential to delivering what women want and need. Without it, brands run the risk of the “shrink it and pink it” trap.

Respond to shifting priorities — not just gender identity

For all the great things we’r seeing from female-oriented brands in this space, some lean heavily on stock imagery which isn’t that different from what the rest of the industry is using just with women.

Brands’ visual languages need a shift to recognize that today’s milestones and ambitions aren’t what they used to be.

Women tioday are more likely than ever to head their households. “In South Korea,” The Guardian reported, “the figure of the ‘old miss’ has become the single-and-affluent ‘gold miss’.”

So, if nuclear family life is no longer the default expectation of all women, what are women saving for? Is it for a “post-burnout” recovery gap year Egg freezing and IVF, perhaps? Their dream renovation? All to say that financial brands need to ask questions, uncover and respond to these shifting priorities.

Speak thoughtfully to women

For brands to show that they are truly female-focused, they must speak in a tone and in a way that demonstrates understanding — not just typical messages of “empowerment.”

That means messaging about things that genuinely matter and said in a conversational, practical and advice-laden way that will resonate. Women are perceptive. Transparency and honesty aren’t things they value on in their lives, but in their brand relationships too.

First published in AdAge.