Barclays report: The wealth of women
A new report by Barclays Wealth reveals that the affluence and influence of women is growing and is increasingly fuelled by their own individual enterprises. This wealth is largely driven from earnings and business ownership (83.9 percent) or from personal investments (32.8 percent). These figures contrast with the traditional perception of marriage (24.7 percent) and inheritance (19.9 percent) as the lead sources of women’s health. According to Amy Nauiokas, Managing Director and Head of Brokerage at Barclays Wealth, says that “while these more ‘traditional’ drivers of wealth still play a part, they are no longer the dominant forces they once were. While it is not necessarily a case of providing women with a different service or products, it is crucial that the wealth management industry understands the motivations and needs women have, and that a one size fits all approach to managing this increasingly influential audience may not work.”
The survey also found that women are less likely than men to invest in the riskier end of the financial spectrum, such as private equity, derivatives or hedge funds. Amy Nauiokas concludes, “women will alter their approach as they reach their goal and will often act to protect what it is they have built up. But equally, when they are in the mindset that ‘this is for investment and saving’ women are very diligent and plan well. They are also absolutely more disciplined in allocating a figure for the spending pot to enhance their lifestyle and enjoyment.”
