A study by Simon-Kucher and colleagues found that despite the fact that women accumulate wealth faster than men, they do not serve as wealth management clients. | Job Binary


NEW YORK–(BUSINESS WIRE)–Simon-Kucher & Partners, a global strategy and marketing consultancy, today released its study, Wealth Management: Creating Winning Client Experiences for Women. The study examines the investment and financial planning preferences, needs and priorities of women in the US and Canada with an annual household income of over $150,000 and a net worth of at least $150,000.

Women are getting richer at a much faster rate than men. According to the study, the total wealth of women in the US and Canada grew 180% faster than that of men between 2016 and 2021. Despite their increased economic status, women invest 22% less of their wealth in financial instruments than men. In its research, Simon-Kucher found a number of indicators that show women remain an underserved client segment in wealth management. Lack of segment-specific experiences, ill-tailored onboarding programs, and mismatched products and services.

“To realize the full revenue potential of this client segment, financial institutions must invest resources in understanding their differentiated needs and designing segment-specific experiences,” said Leonie Kriett, principal at Simon-Kucher & Partners. “Dismissing gender stereotypes such as women’s lack of financial literacy, lack of confidence in their investment decisions, or lack of financial prudence can limit success.”

If suitable products and services were available that allowed women to invest as much of their wealth as men in investment assets, up to $14 billion in additional fee income could be available for financial institutions in the US and Canada in 2021. The only one according to the Simon-Kucher analysis.

“Consistently, we see that women place a high value on attentive service, a personal relationship and access to a trusted financial advisor,” said Simon Schuettel, director of Simon-Kucher & Partners. “One-on-one alignment with an advisor is critical to success. Hyper-personalized experiences and interactions across digital channels are also critical.”

The study revealed clear gender differences in investment behavior and preferences:

  • 65% of female investors are willing to pay a 20% premium for personal advice

  • Women are 30% more likely than men to seek financial advice

  • Women said access to financial information such as self-study and webinars, risk protection and access to long-term financial planning and budgeting tools empowers them as investors. Compared to women, men behave more like tactical investors. Men want investment ideas in response to current market conditions, time to think about investments, and the ability to bounce ideas off friends and advisors.

Request a copy of the study here.

* About study: In May 2022, Simon-Kucher & Partners conducted a study on the investment and financial planning behavior of women in the US and Canada. The study included 951 survey responses from men and women living in these countries with an annual household income of more than $150,000 and a net worth of at least $150,000.

Simon-Kucher & Associates, Strategy and Marketing Consultants:

Simon-Kucher is a global consulting firm with more than 2,000 employees in 27 countries. We focus on measurable revenue and profit growth for our clients. We do this by optimizing our clients’ pricing, sales and marketing strategies — better and more consistently than anyone else. With over 35 years of experience in monetization, our experts work in all industries and types of business. We are regarded as the world’s leading price advisor.



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