Labor (Force) of Love: Advising Working Moms

She recounted a conversation with an advisor at a networking event who described his clients' inertia in financial planning. "Moms aren't making drastic changes," she said. "They're uncertain about making major moves."

Debt is another major issue that women have to contend with. "Advisors need to think about how to get them out of debt," Flynn Jay said.

According to the 2010 Census, more than 20% of married couples and 7.2% of single women had children living in their household. Advisors with female clients who have children at home should focus on developing their role with those clients into that of a trusted guide.

"Advisors should know [working moms are] fearful" and tailor their sales presentations to address those concerns, Flynn Jay said. Advisors need to be understanding of their female clients' situation and work to build their relationship. "It may not be an instant sale. Advisors need to be a confidant or a counselor."

Advisors should also consider that this generation is different, Flynn Jay said. "As their spouses have suffered unemployment for extended periods of time, some moms have had to go back to the work force full time. More moms are providing for their families and have to come home and do chores. In some households, women are still held accountable for the way houses are run."