Study: female investors have just 37% of confidence (but score higher on composure than men)
Welcome to the bi-weekly update (#199) where we dive deeper into key topics, themes or issues specific to women and their lived experience.
According to research by Investec Wealth, there are four common types of investors based on financial personality assessments.
And the study found that nearly one-in-three men (34%) were categorised as having the highest levels of financial confidence, compared with less than a quarter (24%) of women.
The key results were the following:
38% of women were low on financial confidence, but scored higher on composure compared with 23% of men.
Over half (52%) of men tended to have either high or very high levels of financial confidence, compared with 37% of women.
By being able to categorise investors according to one of the four common types, “wealth managers can tailor their messages and advice to address people’s views and help them”.
And it’s not just about closing the gender gaps, but appreciating that women who may feel less confident about investing and invest less often, may be sitting on a higher cash balance which will impact their future income.
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