“We will benefit from this”: The financial sector wants to focus more on women

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“Women are generally more risk averse,” says Maxime Carmignac, head of the London office of the French asset manager of the same name. Their portfolios tended to contain more bonds than stocks, and they traded less on average than men.

“Lack of knowledge, experience and confidence prevents women from entering the investment world, even if they have savings,” says Martina Müller-Kamp, head of market services department at Graubündner Kantonalbank. The expert gives the third column as an example: While 60 percent of men invest, this rate of women is only 40 percent.

However, the situation is slowly changing. “As private investors, women are increasingly taking on more responsibility in wealth management and investments and now control a third of assets under management,” says Cristina Catania, senior partner at McKinsey and co-head of wealth management and wealth management.

The share is expected to rise to 45 percent by 2030 and total assets will reach $10 billion, according to the consulting firm. Women’s wealth will grow faster than men’s in the coming decades, partly due to longer lifespans, according to the study. While the average annual increase in women’s wealth is expected to be 8.1 percent by 2030, the figure for men is expected to be only 2.7 percent.

Product offers for “female” investment are currently mushrooming so that women can invest more of this money. From start-ups offering coaching and personalized products to big names in the financial centre: women’s financial emancipation is now on everyone’s lips.

“Financial service providers are partially adapting to this development by offering special offers and advice,” says Catania. As the market grows, “asset managers must better understand the needs and expectations of women in power and adapt their strategies accordingly, thereby contributing to a fairer and more inclusive investment environment.”

Müller-Kamp agrees: “We will benefit from improving our communication with female customers.” “Women need a special approach, not special products that will increase gender discrimination.”

Over the last four years, Graubündner Kantonalbank has launched various initiatives in this sense: networking, webinars and ambassadors aiming to encourage female customers to interact with investment products. “My message is: You have to start early,” says Müller-Kamp. (SDA)

Source :Blick