Empowering Women and Reinventing Financial Services with DEPTH (Oakworth Capital)
In the days of the baby boomers, financial advice was often talked about on golf courses or at men’s clubs, places where women were not often found. As a result, women generally looked from the outside when it came to wealth growth opportunities.
This may be hard to imagine in today’s world, as a few decades later, women have become a financial force to be reckoned with. With the increase in the number of women having careers, running businesses, managing their own households and investing, Oakworth Capital Bank has formed its advisory and talent model to meet the needs of women. Between their wealth advisors and their private bankers, 50% are women.
According to a recent study by Merrill Lynch and Age Wave, only 52% of women say they feel confident managing their investments, compared to 68% of men. According to a study by Accenture Consulting, women are more likely than men to use dedicated advisors, but are less likely to say they are satisfied with their advisors or find them trustworthy. As a result, only 61% of women said they had a good understanding of their investments and assets.
“At Oakworth Capital Bank, we are proud to celebrate initiatives that support the women we serve, helping them succeed,” said Alice Womack, Associate Managing Director, “We are focused on adding value to our female customer base. thanks to our DEPTH program You are not only our client, you are our partner.
“We developed a program called DEPTH, which is dedicated to women, wealth and well-being,” Womack said. “We want to help women succeed by offering services that target their needs. Many want to gain a much deeper understanding of financial matters, from business planning, networking, the death of a spouse, estate planning, divorce and budgeting to family finances or taking care of aging parents. DEPTH meets the unique needs of our clients in the form of programs, conversation circles and personalized counseling. »
Oakworth has combined many years of experience to build a better customer approach from the ground up. Oakworth customers say what makes Oakworth unique is “the people and the service,” and they make banking “easy.” It’s not something that customers often say about their banking experience. No wonder Oakworth has a Net Promoter Score of 90 and a customer retention rate of 99%.
Scott Reed, President and CEO, shares that the approach not only provides a more personalized experience, but also challenges the status quo, including how customers’ needs are met. It’s a way for Oakworth to reinvent the way financial services are delivered. Reed puts more emphasis on the human connection to create a deeper understanding of a client’s needs to help them achieve their financial aspirations.
“Within the walls of Oakworth, there is a culture that furthers our clients’ goals through a cultivated relationship with a Client Advisor,” said Reed. “Our culture fosters an environment where our associates focus on relationships not only with our customers, but also with each other.”
Oakworth’s core values include:
► The golden rule: treat others as we wish to be treated.
► Character: Conduct ourselves with the highest level of honesty and integrity.
► Spirit of innovation/creation: Use ideas that create value for both customers and the organization.
► Professionalism: attracting and retaining the brightest and most motivated talents.
► Work ethic: We recognize that hard work is necessary to achieve our goals.
Throughout the company’s mission to help its customers succeed, Oakworth Capital Bank employs the renewal strategy of the art of personal service combined with the benefits of modern technology, delivering a more personalized experience and solutions for more growth. For more information, visit oakworth.cc/depth.