"These findings suggest that an important factor is being overlooked by advisors working with women investors, and that is the purpose behind the reasons they invest," Kim Dellarocca, managing director at Pershing, said. 

"This missing factor may contribute to why 35 percent of women respondents who do not use a financial advisor say they don't trust financial advisors are working in their interests," she said. "The reality is that a woman's desired level of understanding can be different, which requires advisors to explore concerns, goals and trade-offs with greater directness and rigor." 

Not only do women have specific goals in mind, but they have specific barriers to overcome as well: longer life expectancies that will require greater savings; lower incomes during their working years; potentially higher medical costs; and a desire to leave a charitable legacy that will outlive them. 

Advisors must be prepared to address the specific challenges that face women's investing goals, according to the study. 

For retirement, those challenges include risk tolerance and a look at specific numbers so that they can have a more realistic idea of what they need to accomplish. 

For education, laying out a schedule based on ages, educational goals and tuition costs can clarify how a woman can make sure her children have the chance to pursue a desired course of study. 

Women seek financial flexibility so that they're not blindsided in case of a divorce, the death of a spouse or high-cost eldercare. Advisors need to address these issues and more as they try to prepare them for potential changes ahead. 

The legacy they leave behind also is important to women — presumably more so than it is for men, since women contribute an average of 3.5 percent of their wealth to charity compared with just 1.8 percent for men. Advisors need to discuss clients' charitable goals, even for those with lesser means, so that they can follow through on their wishes with actions.