Finance industry urged to appeal to more female investors this Good Money Week
- Research conducted by Good Money Week has found that 58% of women don’t think financial institutions understand them and their needs
- In fact, over a third of UK adults (35%) believe the financial industry tends to target men over women
- As a result, financial institutions are being urged to appeal to more women as part of an initiative by Good Money Week, 29th September – 5th October 2018
This year Good Money Week is focusing on female economic empowerment and the ‘Investment Gap’.
Their research has found that:
- Women are more likely than men to care about the ethical impact of their investments on society, meaning their potential impact on planet and society could be huge
- But women are less likely to invest compared to men, with half (50%) of men possessing a non-state pension versus 41% of women, and nearly a quarter of men (23%) having investments in stocks and shares versus just 15% of women.
The research also revealed that women are more likely to feel somewhat shut out by financial institutions:
- 58% of women don’t think financial institutions understand them and their needs when they read their marketing materials
- Over a third of UK adults (35%) believe the financial industry tends to target men with information as opposed to just 3% who think they target women.
The Good Money Week 2018 campaign ‘Who Fund The World?’ aims to encourage and empower women to act upon this concern, and take control of where their money is invested.
The campaign is encouraging women to join the movement, invest in themselves and help fund the world. Because when women invest, the world wins.
Charlene Cranny, Campaign Director, Good Money Week, said:
“In recent years, we have seen more and more women respond to gender-based inequality with passion and unity. However, one area that has been rarely discussed is the huge disparity between men and women’s investments.
No only should women be investing in themselves and their future, our research shows that they are more likely to invest ethically, so the impact they could have on the planet and society could be huge.
Women are coming into more money than ever. Women are expected to hold 60% of the wealth in the US in the next 10 years with similar figures cited for the UK.
But one of the issues holding women back from investing it, has been that many don’t feel like investments, and the financial industry in general, is “for them”. So there is a big job to be done on ensuring the industry is inclusive and talks to them. With the ‘Who Fund The World?’ theme this year we hope to wake women up to their huge potential in the world of investments.”
Good Money Week is the week-long campaign run by UKSIF (UK Sustainable Investment and Finance Association) that encourages people to choose sustainable and ethical options for their bank, pension, savings and investments. This year’s campaign is sponsored by BMO Global Asset Management and Lion Trust.
Women can join the movement, download their free guide start investing in themselves and the world at www.goodmoneyweek.com