Why women shun the markets, but shouldn’t
Jargon-filled marketing campaigns, ads for older, richer men, confidence, trust, risk, and knowledge. Just some of the reasons cited for why women shun the stock market. However, the financial sector is waking up to the problem.
A YouGov poll for Boring money found that only 10% of British women have a stocks and shares ISA, compared with 17% of men. Similarly, only 19% of women have a private pension for retirement, compared with 31% of men. The majority of women are relying on their male partners to come up with investment ideas.
Bronwyn Curtis, who has held a number of high profile positions in the finance industry, says the sector seems to have only a surface-level understanding of who the female investor is and the way ‘it’s currently meeting their needs is not matching up with their (female investors) significant economic impact as well as their growing influence in financial decision-making.’
Over the next 40 years, 70% of the $41 trillion in intergenerational wealth is expected to be transferred to females, creating a market that is ripe for disruption, according to State Street Global Advisors (SSGA) research.
That’s a fact more and more companies are starting to recognise, with an increasing number of firms starting to launch education programmes, investing seminars and specific robo-advice targeted towards women.