Thanks to 4,216 individuals who participated in what may be the most significant international study to date of widowed persons—focused on resilience, relationships, and important financial matters. The experiences and insights of survey participants can help other widowed persons and professionals who work with widows. Their stories are very important and deeply appreciated!
"Helping Repartnered Widows Navigate Romance and Finance: The Role of Financial Advice," was published in the May 2017 issue of the Journal of Financial Services Professionals. A second article based on this research was published in the August 2017 issue of the NAPFA Advisor. A third report, Enhancing Financial Confidence Among Widows: The Role of Financial Professionals, was published in the December 2017 issue of the Journal of Financial Planning.
Our first scholarly study, "Widows Voices: The Value of Financial Planning," was published in the January 2016 issue of the Journal of Financial Service Professionals.
Why This Research Matters
These studies confirm that widowhood is a transition during which women want and need
to feel more confident about, and to understand more about, their financial situations.
Most respondents indicated that having a trusted financial advisor (one who is not only
competent, but also unbiased, honest and kind) can play a paramount role in achieving
Yet, when you consider that 70% of widows fire their financial advisors after a spouse’s
death, there’s no question that many widows have trouble finding advisors who inspire
the kind of confidence they require to work through their transitions successfully.
Widows clearly have unique needs that are often rooted in and reflected by a comment one widow made in our first study:
"I've been a widow for five years now. The first four were a blur, and I can't say I made rational decisions. Now I'm trying to recover from all that I've lost through poor decision-making."