“Leveling the playing field” for women divorcees
Some days in sunny southern California just aren’t all that sunny for the “silver splitters” of divorce, as Kimberly Nelson calls them.
Nelson, who’s a financial advisor at Coastal Bridge Advisors, an independent RIA in California, says she decided to find her niche in divorce with clients because of the need to work with the “out of the loop” spouse, creating a new network around them.
Nelson explains the “out of the loop” spouse, which are often female spouses, are uninformed around financials because of the moneyed spouse, often the male partner.
“I work with them to create a new network around them so they can take control of their financial life and move forward with a lot of empowerment and not confusion or fear,” Nelson said. “Divorce is both a financial process, but it’s also a deeply emotional process.”
She recalls the first instance that initiated her passion to work with divorcees was when the firm was working through a divorce with a large client.
“I witnessed how the team rallied around the moneyed spouse,” she admits. “He knew about the ins and outs of the family’s financial picture while his wife did not, so it was up to her attorneys to unravel all of that with the information she provided.
“It made me think a little bit about the process and who’s in the power position here,” she added.
That’s when she decided to level the playing field for women clients. Nelson says one of the key trends that the industry has faced is a spike in gray divorces, though, she calls it “silver splitters.”
“They’re not grey. They’re silver, shiny and living their best lives in their 50s and 60s,” she says.
Indeed, women are living their best lives as a recent UBS Global Wealth Report found women are poised to transfer over 10
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