The Barclays Female Client Group, now in its second year, has launched a White Paper entitled: Understanding the Female Economy: The Role of Gender in Financial Decision Making and Succession Planning for the Next Generation. The findings show important distinctions into how men and women approach financial decisions differently and is the only research of its kind in the market. The findings consider;
- Risk taking - Women have a notably different attitude in relation to risk-taking compared to men.
- Desire for financial discipline - Women are more likely to want greater discipline when it comes to their finances than men.
- Strategies for success – One way that wealth managers can help clients achieve more discipline with their finances is through the use of self-control strategies.
- Delegating the decisions – There are different types of financial strategies male and female investors find appealing.
- Women often leave inheritance planning to men
- Fewer women then men have a will