In contrast to the damp squib of a Spring Statement earlier this week (what was the point?), there was better news this week about the rise of female investors.
It’s often been held that female investors are reluctant to take investment risks and are not interested in investing but a new study from Hargreaves Lansdown seems to completely debunk that.
This is remarkable in itself but it is also twice the rise in the number of male SIPP millionaires over the same period.
Even more interesting is that many female SIPP millionaires are invested heavily in tech funds and tech stocks, often seen as among the riskiest.
One feature seems to be that female SIPP millionaires are long term investors, choosing growth sectors and waiting for the results. Perhaps displaying more patience than many. Certainly they've made the right picks.
Either way, it’s a positive feature of the marketplace that the rise in the number of ISA and SIPP investors is bringing more female investors and many are turning out to be pretty smart investors, outclassing men considerably.
The rulebook on how male and female investors differ may need to be rewritten.
As we approach International Women’s Day this weekend these figures are a reminder that women increasingly have financial power and many are no longer leaving it to men to deal with the finances.
This is an encouraging and welcome change and it’s pleasing to see it’s being supported by the financial advice sector too.
Financial Planning itself is becoming a much more female-friendly profession and women in the profession and female clients are both prospering.
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Kevin O’Donnell is editor of Financial Planning Today and a journalist with 40 years of experience. This topical comment on the Financial Planning news appears most weeks, usually on Fridays but occasionally other days. Email:
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