Female wealth is rising even though very few women invest in shares and funds as many prefer the safe haven for their cash. This rise is a well-known topic with several articles describing just how great an opportunity this designates. A report by the Center for Economics and Business Research for example recently published that over fifty percent of United Kingdom millionaires will be women in only a few years to come.
Despite that demography is still tardy when it comes to investing, with a larger number of women choosing to save their cash in low-interest bank accounts instead of investing in stocks and shares that grant the possibilities for greater returns in the long run.
With the steadily growing role women will play in gaining and managing future wealth, this needs to improve. Particularly it is the responsibility of the adviser society to secure the opening at hand and help draw more women to the enterprise, according to the panelists on Investment Week’s latest Diversity Debates series.
‘Yes women can’, chief executive of The Wisdom Council, Anna Lane, stated the vital business opening at hand for advisers when it comes to female investors and the reasons more women need to invest to ensure a greater financial future.
“Our study revealed that women do not actually make intentional decisions not to invest financially; rather it is something they clearly haven’t considered. Accordingly, 09 out of 10 women haven’t considered investing’ Lane stated.
David Holton, Ernst & Young Global Limited Liability Partnership associate holds that the subject is more profound, pronouncing that the industry is not vocalising the appropriate language for women. Several advisers are utilising the ‘wrong’ communications towards the clientele and this can lead to some women evading investing in general.
“There exists an exciting study that reveals that women want to examine more data and knowledge before investing, meanwhile men will rather make decisions on the basis of the accessible data at the time,” David explains. “When you consider the way the industry goes about communicating with investors, a lot of nonsense exist out there and we have reached that point where there is so much focus on control and compliance so much so that the content for investors is also written in those terms; we are losing women in such a process.”
“When you check out how women engage with financial co-operation and or any brand – it is either through connections or recommendations by friends or family. Typically, we have sold more products through an adviser community – but that community has a set demographic they talk to repeatedly which is not broadening to incorporate more women.” HSBC Global Asset Management’s Smera Ashraf asserts.
Admittedly, Ashraf was clever enough to identify that which is contrary to popular belief, ‘the lack of women investors does not result entirely from women’s lack of confidence when it comes to investing money’. Meanwhile, the Wisdom Council’s research proposed that women like to take a more refined and key position when investing, but when they do invest they achieve good returns just like their male counterparts. Anna Lane explains_
“All you read in the media is that women do not have confidence when it comes to investing but that isn’t true. When women do invest, they excel; they are not all investing in wary funds. But, at the moment, investment is just not on their radar.”
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