Closing The Gender Wealth Gap With A Female Financial Adviser

There is a gender wealth gap that’s still alive and well and having an impact on the long-term wealth of women. Research shows that women are highly engaged in managing day-to-day finances but tend to fall behind when it comes to long-term planning, whether they are single or in a relationship.

Women and long-term financial planning

According to the  St. James's Place Financial Health Report.*

‘Women are less likely than men to have a plan (33% vs 42%), invest (27% vs 43%) or receive advice (25% vs 31%)’.

Women will tend to take on the responsibility of budgeting and household spending in heterosexual relationships. However, they will then often defer to their male partner when it comes to longer term planning and investing. In the same vein, while the number of female financial advisers in the UK is increasing, women are still under-represented.

Women may also be lagging behind in the financial planning stakes because they might worry about being intimidated, patronised, or uncomfortable in their first meeting with an adviser, particularly if they are male. They might worry about understanding the language or dealing with an assumption that they're not the primary decision-maker. And older generations of women in particular may find they've had little knowledge of, or say in, future wealth planning for their families. This is sometimes the legacy of generational gender dynamics where money conversations were often led by men.

Short-term money management versus long-term wealth-building

The SJP Financial Health Report 2026 found that women were more likely to have cut back on spending than men (74% vs 66%) during these times of global political and financial uncertainty. They were also more likely to have reduced or stopped saving as a result (22% vs 15%). Men are far more likely to invest than women anyway (43% vs 27%), and almost twice as likely to have invested 5+ years (28% vs 15%).

People who have had advice in the last 10 years are much more likely to invest (62% men vs 25% women), and that rises to 77% for men with ongoing advice. In other words, women are good at managing money but behind when it comes to investing.

What this means in real terms

The report looked at the average self-reported UK household wealth across various scenarios. This is what the survey of 6,000 people found:

• UK average household wealth (savings, investments and physical possessions): £104,329
• Those with a financial plan in place were, on average, £86,806 better off than those without
• The average wealth of those who had been investing 5+ years: £269,690
• The average wealth of those investing 5+ years and who had ongoing advice: £374,985

Women don’t make poorer decisions, but because they are less likely to plan, invest, or take advice, it means they are less likely to reach these higher tiers of wealth.

How the Great Wealth Transfer will impact women’s finances

There’s a real transfer of wealth occurring that means women need to start taking control of their future finances before it’s too late. The so-called ‘Great Wealth Transfer’ that’s taking place refers to a huge intergenerational handover of wealth. It’s happening as the baby boomer generation ages, dies, and passes assets on. A lot of this will end up in the hands of women for two main reasons:

Women tend to outlive men

Statistically, women outlive men and wives tend to inherit wealth before passing it down a generation. US research estimates that roughly 95% of baby boomer wealth will go to women because of the gap in average life expectancy. This is likely to be similar in the UK.

Daughters inherit as well as sons

Wealth no longer typically defaults to sons and male relatives so women are more likely than before to have inherited assets.

We already know from the research that the women receiving this money are less likely to have a financial plan, less likely to invest, and less likely to have an existing relationship with an adviser. This means women will have rising access to wealth without a corresponding rise in the confidence, knowledge, or advice relationships needed to manage it as well as they could.

Older women may have little experience of managing money

Many women will be taking control of significant assets with no experience of investing or managing money. Without the right advice on tax exposure, investment choices, and long-term planning, value can be quickly eroded. Women need to build financial confidence and adviser relationships now, not later.

Closing the gender wealth gap

62% of those who took financial advice during the last 10 years invest, whereas only 25% of those who didn’t take advice invest. 64% of people advised have a financial plan. Working with a financial adviser could make all the difference and for women it can have an even greater impact. If you’re a woman, working with a female financial adviser could help you feel more comfortable making these sorts of important decisions.

Fighting gender stereotypes

We need to ensure women are educated and self-reliant when it comes to financial planning and investing. One way we can do this is to make sure they are being given good advice by qualified, experienced individuals they respect and feel comfortable with. Working with a female financial adviser may be one approach to building women’s future financial resilience. (And on that note, the more women we can get into the profession, the better!)

Take action early to make a meaningful difference over time

Women are entering a period where more wealth than ever will land in their hands. This is an opportunity to bridge the gap in planning and investing and make sure this wealth is managed well. If you would like to arrange to speak to a female financial adviser in Berkshire, Paula Bicknell is based in Theale, Reading, and can work with you in person or remotely. Please contact us to book a preliminary meeting: let’s start closing those gaps!

Although the content of the article was correct at the time of writing, the accuracy of the information should not be relied upon, as it may have been subject to subsequent tax, legislative or event changes.

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