Study reveals key differences in the way the sexes manage their investments
Men and women take very different approaches towards managing their investments, a new study has claimed, with women more likely to opt for face-to-face advice, even though financial advisers can fall short of their expectations.
Just under half of female investors said they preferred to see an adviser in person, compared with 28 per cent of men, according a new study by EY, the accountancy firm. While men cited high fees for financial advice as their top grievance, women were more concerned about an adviser’s lack of knowledge.
Women were also less likely to engage with their financial life as frequently as their male counterparts, with only 27 per cent of women stating that they reviewed their investments weekly or daily, compared with almost half of men.
While technology and the ability to review investments online is making decision making less time consuming, just 53 per cent of women said they check their investments online, as opposed to 68 per cent of men. Of men and women with dependants, 36 per cent said they reviewed the progress of their investments at least weekly, while 68 per cent said they did so every few months.
www.ft.com
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