More than half (52 per cent) of UK women have never held an investment product, research from LV has revealed.
LV’s latest Wealth and Wellbeing report found a “clear gender divide” in investment activity and financial confidence, as only a third (34 per cent) of men have not held an investment product.
It also found that risk aversion remained a “key consideration” for investments.
Some 48 per cent of women aged 55 and over said they would not consider investments involving financial risk compared to 27 per cent of men in the same age group.
LV wealth proposition director, Sarah Hills, said: “Women often live longer, have different life experiences and financial expectations.
“To build trust and relevance, it’s important that advisers feel confident to go beyond product recommendations and engage in conversations around life goals, values and the motivations behind their client’s financial decisions.
“By actively listening, using inclusive language and avoiding assumptions about risk appetite or financial literacy, advisers can strengthen their relationships and deliver more personalised, effective advice.
“In today’s evolving landscape, creating tailored investment strategies that reflect individual needs is not just beneficial — it’s essential.”
LV said advisers could consider introducing lower-volatility solutions, such as smoothed funds, to address barriers to investing.
It also identified the importance of communication with women’s financial adviser, highlighting a friendly approach, empathy, understanding and patience as important qualities.
LV emphasised the importance of this approach, pointing out that women are expected to hold 60 per cent of the UK’s wealth by the end of 2025.
Therefore, it suggested that advisers who tailor their approach to better reflect the needs and preferences of their female clients will be best positioned to build longer lasting relationships and “thrive” in an evolving market.
tom.dunstan@ft.com
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