Holly Mackay, Founder of Boring Money, shared stats showing a concerning gender investment gap:
• While 21% of men in the UK have stocks and shares ISAs only 13% of women do
• Of those who do invest, on average a woman’s balance is £22,907 compared to £35,616 for men
• If the same number of women invested the same amount of money as do men there would be £115 billion more invested in the UK
Mackay recalled how in a previous role, when raising the issue of marketing wealth services to women, she was told by seniors that the female market was ‘a bit too niche’. These stats present an opportunity for asset managers in the UK.
Unsurprisingly, the temperature in the room was a different one. Senior sales and marketing executives from the likes of BNY Mellon and Standard Chartered, were aware of this opportunity as one they cannot afford to miss – but they know they’re still not reaching women effectively enough.
Sunday Times article: The female investor is more savvy than the male