Research from The Share Centre has found that women are increasingly taking charge of financial decisions, especially when it comes to investing. The data revealed that:
• 60% of women investors take the lead in their household when it comes to making ISA decisions
• A quarter of women investors deal on behalf of a male relative or partner
• …But one in three say they don’t have the confidence to talk about investments and the stock market
In 2015, it was revealed that 84% of women influence financial decisions compared to just 49% of men.
Mintel analysts say women are much more powerful in family spending. With lots of publicity around pension shortfalls, it doesn’t come as a surprise that 63% of female ISA investors are investing for retirement. Although some are investing for children and for a rainy day, these are secondary goals. Several respondents also mentioned that they treat investing as a hobby, since they find it interesting and fun, with one commenting, “It keeps my brain working!”
Victoria Copas, Customer Experience Manager has seen an increase in female representatives. She said: “Women are more financially savvy and are seeking better returns than previously offered, on traditional cash savings. We’ve just got over 40% of our junior ISAs which are now managed by female registered contact.
Richard Stone, Chief Executive of The Share Centre, said: “Finance has traditionally been seen as a male-dominated sphere, so we were keen to find out the views of our female investors.
“It is heartening to learn that 60% of women take the lead with their ISA investments, with 12% involved in joint decision-making with their partners. Taking the upper hand, 25% of the women surveyed stated that they deal on behalf of their male relative or partner. This presents a challenge to all service providers to ensure their services meet the investing needs and concerns of women, and not just the male-dominated audience.”
For a full report and video of female representatives at The Share centre visit: https://www.share.com/markets-and-news/top-stories/women-and-investing-taking-charge-of-Investment-decisions/
Leave a Reply