CNBC Dow Jones/WFN video transcript with Sela Ward

GUESTS: Jennifer Openshaw, Sela Ward

BYLINE: Bill Griffeth

BILL GRIFFETH, CNBC-POWER LUNCH ANCHOR: Jennifer Openshaw. She's founder and CEO of the Women's Financial Network. And next to her, of course, is Sela Ward, star of the ABC series, " Once and Again. " A lot of us in the newsroom are still talking about "Sisters," thought from a few years ago. Ladies, nice to see you. Thank you for joining us today.

JENNIFER OPENSHAW, CEO, WOMEN'S FINANCIAL NETWORK: Nice to see you. Thank you.

SELA WARD, ACTRESS: Thank you.

GRIFFETH: Ms. Openshaw, tell me about the WFN and this Web site. What will be unique about this site relative to other financial planning sites?

OPENSHAW: Well, Bill, there's a lot information out there, a lot for women to cut through, but women want an environment that's supportive of them. They want financial needs financial services and product that are tailored to them. So this is a one-stop shop for the busy woman, a place where they get not only information, but services and resources as well.

GRIFFETH: Ms. Ward, I'd say it got our attention when we found out you were involved, but how are you involved in all of this?

WARD: You're wondering what I am doing here.

GRIFFETH: All right, that's a good way of putting it.

WARD: Well, I met Jennifer and I was so excited about the concept for WFN. I said I want to invest in this Web site, because I could be the poster child for the woman who desperately needs a source like this to go to grasp their finances.

GRIFFETH: Why?

WARD: My eyes glaze over. First of all, two reasons. One, I majored in college in painting and fine arts, OK? I could talk to you about that all day. You start talking to me about money and business and you've left me from another planet.

GRIFFETH: You have to watch CNBC more, you know.

WARD: Very true, very true.

GRIFFETH: You've got to start watching CNBC.

WARD: The other reason, which is the most important reason, is I that I was raised like many women in our country, to my mother used to say to me, "Sela, you don't need to work so hard. Just find some lawyer or doctor to take care of you, some man to take care of you and you figure everything out," like that ubiquitous daddy that we all want to take up our finances. And as a result, I am just now really learning how to do that. So this is a Web site that for me is a dream. It gives you the tools and resources to take action. It gives - It educates and empowers women. It's fantastic. So I couldn't be more thrilled, yes.

GRIFFETH: Ms. Openshaw, you know, I've been doing this a long time. I keep hearing that. I mean, we feel like we're make progress when it comes to breaking the glass ceiling or seeing more and more women in corporate America, but are we really making progress on financial planning front for women?

OPENSHAW: Well, the truth is, Bill, women still earn less than men. They live longer. They are still considered the primary caretaker of their families if something happens to their parents. And so they have much more at stake. They have much more of financial burden put on them. And it really means that they have to do better with their finances. They need to make their money go further.

GRIFFETH: They tend to live longer. They tend to make a little less. So it's a problem for women, isn't it?

OPENSHAW: It is. And the other thing that's interesting is that women more than men tend to feel more intimidated when it comes to money matters. I mean, to some people - And Sela was just saying it sounds very mysterious. And we want to make it understandable for women. We want them to be able to come to WFN to get the information they need in a way that they'll understand, but where they won't feel they're talked down to.

GRIFFETH: Yeah, I guess it's especially difficult, Ms. Ward, for a 40- something with two children, a divorcee, and you're getting into a new relationship. I mean, you know, you need lot of financial planning, don't you?

WARD: That's right. See Lily in "Once and Again" going through this very same thing. But it's true, she has no clue. I mean, that happens to so many women who get divorced and their husband is taking care of everything, or their husband dies and they have no clue. And for women, in particular, and whether you're divorced or not - single, married, whatever - the case is, to empower yourself, knowledge in terms of areas particularly about finances is a very self-esteem, you know, building up - What's the right word? It really - It makes you feel much better about yourself and much more in charge of your life.

GRIFFETH: When will the site be open, Ms. Openshaw?

OPENSHAW: March 31st. And today, as you know, we're kicking off the nation's first network of professional advisers, but advisers, some of the best in the country specifically omitted to working with women. Again, giving them...

GRIFFETH: My old friend, Terri Savage, is among your group there, right?

OPENSHAW: That's right. Yeah, we're pleased to have her. She's really an example of the kind of people we have. I mean, we have people who are really the top in the country. And Bill, just going back to the point we were saying earlier, women are investing more conservatively than men. That's an example of how women really need to get more educated, really need to take action to build that longer-term retirement.

OPENSHAW: Thank you.

GRIFFETH: Ladies, nice to see you. Good luck. Thanks for joining us today.

And Ms. Ward, you know, we're here at CNBC to help if you need some more financial planning help.

WARD: Thank you. I'm going to start tuning in.

GRIFFETH: Actress Sela Ward, star of the series, "Once and Again," and Jennifer Openshaw, the founder and CEO of Women's Financial Network. And again, the Web site is wfn.com. It's there for you to register if you want to, but as you heard, it will be opening on March 31st.

END__Business Video, SHOW: CNBC/DOW JONES BUSINESS VIDEO (March 3, 2000)