Women as Economic Agents Roundtable Luncheon Discussion

MIDDLETOWN, RI: Finn Wealth Management is offering a roundtable luncheon discussion on “Women as Economic Agents” at noon on Thursday, March 20 at the Mooring Restaurant on Sayers Wharf in Newport, Rhode Island. Kathleen McQuiggan, a senior advisor of Gender Diversity Initiatives to Pax World Investments will lead the discussion. Both women and men are welcome to attend the free presentation. A light lunch will be provided.  Advance reservations are required as space is limited. Contact Ben Fernandez at Finn Wealth Management by calling 401 848-4579 ext 117 or emailing benjamin.fernandez@lpl.com.

Today, women start new businesses at twice the rate of men and comprise some 43 percent of Americans with gross assets of $1.5 million or more, according to the latest government figures. Women own 40% of US businesses, which contribute $4 trillion to the nation’s economy. Women are the breadwinners or co-breadwinners in two-thirds of American households. In the United States, women outnumber men in the attainment of college degrees (by 20 percent), and 72 percent of high school valedictorians were women last year. Women are already responsible for 83 percent of all consumer purchases; they hold 89 percent of U.S. bank accounts, 51 percent of all personal wealth, and are worth more than $5 trillion in consumer spending power—larger than the entire Japanese economy. If women entrepreneurs started with the same capital as males, they would be adding 6 million jobs to the US economy in five years, and 2 million within the first year. As Newsweek reported in its July 6, 2010 issue, “women are the biggest emerging market in the history of the planet.”

Kathleen McQuiggan is Senior Vice President at Pax World Management LLC. Ms. McQuiggan is responsible for the gender initiatives at Pax World, including managing the firm’s efforts on gender equality as an investment concept and leading the Women and Wealth Practice Management initiative. She is President of Catalina Leadership, a strategic advisory organization focused on investing in women. She has 22 years of experience with major investment firms. Prior to working with Pax World, she was a vice president at Goldman Sachs for 13 years, where she served as an Institutional Equity Franchise salesperson in Chicago and Boston. Kathleen is a long-time activist for women’s issues in business. She has a bachelor’s degree in business administration with a finance concentration from Towson University. Kathleen currently serves on the YWCA Boston Board of Directors, is Co-President of the 85 Broads Boston Chapter and is on the Board of Directors of Invest in Girls.

Information sources: The Political and Economic Power of Women, July 15, 2011 , Page 5, Center for International Private Enterprise. Babson College research on Jumpstart Blog, April 2011 http://blog.jumpstartinc.org/index.php/archives/607. Jessica Bennett & Jesse Ellison, “Women Will Rule the World,” Newsweek, July 6, 2010.

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