Women’s Financial Services Group Established

Singer Xenos reaches out to under-served segment

Coral Gables, Florida, April 4, 2005 – Singer Xenos Wealth Management announced that it has created the SX Women’s Financial Services Group to proactively address the overlooked financial needs of women and offer strategies to help secure women’s financial futures.   

“Women have a seven year longer life span than men¹ and are retired for 20 percent longer than their male counterparts”, explains Faith Read Xenos, Co-founder and Partner of Singer Xenos Wealth Management in Coral Gables, Florida.  “That means that women must save 20 percent more for retirement than men.  Yet, only 47 percent of wage and salaried women working in the United States participate in a pension plan²”, adds Xenos.

Launched by Ms. Xenos, the SX Women’s Financial Services Group is designed to help raise awareness of the importance of financial planning for women.  It will provide an ongoing support network, offering a unique opportunity for women to expand their understanding of the investment process.  The group will host regular educational, networking, and social events for clients, their guests, and local residents. 

“Women make excellent investors, statistically outperforming men by a 5 percent greater rate of return in women-only versus men-only investment clubs.  But women traditionally leave finances to men, often finding themselves unprepared to handle their finances in the event of divorce or widowhood.  In fact, the average age of widowhood is 56 and one quarter of widows run out of their husband’s death benefit in two months³”, explains Xenos.

Ms. Xenos knows first-hand what it’s like to be a woman who is financially unprepared for a major life change.  When she separated from her husband over 10 years ago, she came to the difficult realization that she was ill-prepared for divorce.  Today, she counsels women of all ages on how to best meet life’s challenges head on.  From married retirees to single mothers, widows to divorcees, she has helped women of all ages wisely manage and allocate their income to meet their personal goals.

“This is not about striving for equality with men.  This is about making sure that women learn that their needs and goals are very different than those of men.  It is therefore essential that they take an active role in planning their financial futures, realizing that there is no cookie-cutter financial approach that applies to both genders”, adds Xenos.

ABOUT SINGER XENOS WEALTH MANAGEMENT

Singer Xenos is one of Florida’s largest independent, fee-based wealth management firms.  It offers financial and investment planning to affluent individuals, families, professionals, and physicians in South Florida.  In 2004, Singer Xenos was ranked among the nation’s 100 most exclusive wealth advisors by Worth Magazine, an honor it has been bestowed for several years. 

Singer Xenos has offices in Ft. Lauderdale, Orlando and Tampa, and is headquartered in Coral Gables.  It can also be found on the Internet at www.SingerXenos.com.

¹ National Center for Health web site

² U.S. Department of Labor web site

³ "Smart Women Finish Rich" presentation listing the following source:  Business Week 01/00, Shelby White -- What Every Woman Should Know About Her Husband's Money, Investment Company Institute

Additional statistics

• Of the over 59 million wage and salaried women working in the United States as of June 2000, less than half -- just 47 percent -- participate in a pension plan.
• Women are more likely to work in part-time jobs that don't qualify for pension coverage, or to work fewer years in pension-covered employment because of interruptions in their careers to take care of family members.

Source:  U.S. Department of Labor web site

For more information, please contact:

Rosalie Berg
Strategic Vantage for Singer Xenos
(305) 971-5352