DigiMag Glacier_Q4_2017 - Page 17

MYTH 1 Investment decisions are mostly made by men As women’s responsibility for household income has increased, so has their authority over saving and investing. Women now control around $11 trillion in investable assets.¹ Over the next 40 years, it’s estimated that nearly $30 trillion of intergenerational wealth will be transferred to female investors.² Despite their growing financial prowess, women are still overlooked at times by advisers who presume they’re not involved in investment decisions. It’s time for the industry to catch up to female investors. MYTH 2 Female investors lack confidence As they continue to expand their role as the family’s chief investment officer, many women are becoming more experienced investors. The broad generalisation that women lack confidence as investors simply doesn’t apply. Younger women, for example, tend to be more confident in their own investing skills. Age and experience with investing are just two factors that may affect an individual’s confidence in their own investing skills. 3 MYTH Female investors are indecisive When a female investor takes more time to make an investment decision, she’s not necessarily being indecisive. Her comprehensive decision-making process typically involves looking at issues from multiple angles, considering various sources of information and carefully weighing the options. This is a holistic approach to a complex, multifaceted decision. While this may appear indecisive, especially compared with an overconfident investor who’s more impulsive or trades more frequently, it simply means she’s motivated to make well- informed decisions. MYTH 4 Female investors prefer to work with female advisers Advisers should know that they don’t need to be a woman to advise women – nine out of 10 female investors believe gender doesn’t matter in hiring an adviser.³ However, female investors with a female adviser tend to be more confident in their own