HORSHAM, Pa.--(BUSINESS WIRE)--As we celebrate Mother’s Day this year we can also celebrate just how far our Moms have come as the family’s advisor. That was a key finding in The Penn Mutual Life Insurance Company’s (Penn Mutual) latest study about women and financial knowledge.
- 75 percent of millennials “strongly /somewhat agree” that they would take financial advice from their mother.
- In stark contrast, only 52 percent of baby boomers would.
“It is clear to see that women are now taking a lead role in influencing their family’s financial decisions,” explains Penn Mutual’s chairman, president and CEO Eileen McDonnell. “We are encouraged by the great progress women have made in empowering themselves with financial knowledge. It is our hope that more women would consider expanding this role outside their household and bring their much needed expertise to our company and our industry.”
Penn Mutual has made promoting financial literacy among women a top priority. Since launching myWorth in 2008, Penn Mutual has developed and helped advisors deliver a wealth of information geared towards educating women on important financial matters. Key components of myWorth include the WorthforWomen.com website, the myWorth calculator and Worthwise newsletter.
About The Penn Mutual Life Insurance Company
Since 1847, Penn Mutual has been driven by our noble purpose to create a world of possibilities. At the heart of this purpose is the belief that purchasing life insurance is the most protective, responsible and rewarding action a person can take, and is central to a sound financial plan. The company is committed to helping families unlock life’s possibilities through life insurance and annuity solutions. This is accomplished through a national network of financial professionals, who help clients make great things possible. Penn Mutual supports its field representatives with brokerage services through Hornor, Townsend & Kent, Inc., Registered Investment Advisor and wholly owned subsidiary. Member FINRA/SIPC. Visit Penn Mutual on the Internet at http://www.pennmutual.com/.
©2015 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044