Financial advisors stand to tap $700 billion if they can properly meet the financial planning needs of women, according to new reports.

The management consulting firm Oliver Wyman estimates that’s the amount the financial services industry is missing in revenue ever year by not meeting women’s expectations, according to U.S. News. But to appeal to women, the industry will not be able to rely “on reductive stereotypes and "pinkified" marketing tactics,” the publication writes, citing Oliver Wyman’s report.

For starters, advisors can’t use the same messaging for all women and must instead account for financial and personal circumstances, Laura Gregg, director of practice management and advisor research at FlexShares, tells U.S. News.

It’s also important to demonstrate to the client that the relationship isn’t about selling to her, according to Julie Genjac, managing director of strategic markets at Hartford Funds, the publication writes. She suggests that, in order to establish a connection, advisors share something about themselves beyond their “business self,” according to U.S. News.

Dawn Doebler, principal and senior wealth advisor at The Colony Group in Bethesda, Md., says advisors also need to recognize the “significant economic power” many women wield as primary earners or inheritors of wealth, according to the publication. At the same time, advisors must realize that many such women may not have a female role model to help them manage that money, Doebler tells U.S. News.

Advisors should also be aware of common misconceptions, according to the publication. FlexShares, for example, found that women aren’t in fact more conservative investors than men, aren’t disloyal to their advisors and are indeed interested in investing, U.S. News writes.

On the other hand, women often speak up less during financial planning meetings, so advisors should find ways to encourage them with questions and appropriate pausing, Doebler says, according to the publication.