A study by wealth manager Sanderson House revealed that women feel less financially than men when asked about the factors that determine general financial health and well-being.
“In the past decade, the number of high net worth (HNWI) for women has increased significantly. By 2025, it is expected that more than 60% of the UK’s wealth1 will be in the hands of women. This is what we’re expecting. It’s an exciting and important development and something the industry has to adapt quickly,” said Georgina Fry, chartered financial planner at Saunderson House.
This study provides engaging insights into how women’s economic needs and goals differ from those of men, and how our industry can better understand and serve women in HNW. I will.
“The industry needs to understand the reasons for these barriers, including stereotype-based misconceptions, experiences of women in the advice industry, and advisors who are currently primarily male, empathize with their needs. Includes ways to struggle.
“Many of these issues can be addressed with the right support from the right financial advisor. How the advice industry engages with female and potential clients through better and coordinated services. You can decide whether it’s best to advise. The industry needs to address this imbalance, but more broadly, all advisors need to fully understand the needs and aspirations of women.”
The study was released in collaboration with the 18th Natwest Everwoman Awards, which celebrates women’s entrepreneurship.
