Women, Wealth and wellbeing

Empower women to define what wealth means to them, make sense of financial headlines and build their financial foundation.

Women in Australia are gaining power

Women in Australia are building their wealth and power. Research reveals ongoing progress in enhancing the social standing of women when compared with male counterparts.

47%

of all employed persons in Australia are women

46%

of new appointments to ASX 200 boards are women

59%

of domestic university students are women

Sources: Australian Government Workplace Equality Agency, The Australian Bureau of Statistics, Gender Indicators, Parliament of Australia. 2023

Women are acquiring more wealth than ever before

As women’s power is growing, so are their assets. Women are gaining more financial responsibility meaning more knowledge is needed to make educated choices. However, women have historically been underrepresented in the wealth industry – now there is a greater demand and focus on helping women feel confident with their financial decisions.

$93T

The total of global private wealth women hold in 2023.

$5T

The amount women are estimated to add to the global wealth pool every year.

Sources: Boston Consulting Group as of December 2019, Boston College Center on Wealth and Philanthropy, National Center for Women and Retirement Research

Women still face ongoing challenges

So clearly, women have come a very long way. But it is no secret that they still face a lot of challenges.

They earn 86 cents per dollar a man earns

Women are still paid less. This accumulates over the course of a woman’s life. And although men make more than women, oddly enough ¾ of purchasing decisions are made by women.

Women tend not to see themselves as investors

Our research shows that many women tend not to see themselves as investors, more as savers. Some even stated they would rather plan their funeral than their finances

Managers are almost twice as likely to be men than women

In Australia, there remains a lack of women in leadership and senior positions. Women are also more likely to make tradeoffs for family, such as career breaks.

Sources: BlackRock People & Money 2020, http://www.abs.gov.au/statistics/people/people-and-communities/gender-indicators-australia/latest-release

Wealth means something different to everyone

“Wealth" means a lot of different things to different people; for some it means being in a state to have choices, for others, wealth brings to mind images of travel, security, independence, or health. What does it mean to you? Your clients?

Our mission is to help them think about a few considerations when putting a plan in place, while honouring the fact that each one of us has a unique life journey, unique relationship with money and investing.

We want to make sure that we’re setting up the plan to help them reach their future goals.

Support family

Pursue creative interests

Independence

Focus on wellness

Travel

Volunteer and donate

How can you help your clients?

Define goals and investment profile

Ask what's important

Everyone’s goals are different. Work together with your client to better understand her goals and establish trust.

Align to a portfolio

Once you know her goals, work together to create an investment roadmap to stay aligned in the long run.

Ensure she's invested

Start with asset allocation

Many women are un- or underinvested. Discuss the roles of the different investments in her portfolio and how the portfolio aligns to why she is investing.

Consider investing with purpose

Sustainable investing is about investing in better ways of doing business. It recognizes that companies solving the world’s challenges may be best positioned for growth.

Strengthen your value proposition, foster stronger client relationships and help plan more purposeful and meaningful retirements for your clients by reframing retirement discussions around wellbeing.

Reframe Retirement Reframe Retirement