WP Asks: Why do advisors think women are more cautious investors?
Why advisors read women as protective
Asked why advisors read women clients as wanting to protect wealth rather than grow it, Tina Tehranchian C.M., senior wealth advisor at CI Assante Wealth Management Ltd., pointed to how women reach a decision rather than what they want from it.
“Women often need a lot of information before they commit to a strategy. This does not mean that they are more concerned about preserving wealth or that they are more conservative than men,” Tehranchian said in an email to Wealth Professional.
Cassandra Cross, regional director, private wealth and client relationship manager at Nicola Wealth, traced the assumption back to the subjects the industry has historically attached to women and money.
The industry has historically associated women with conservative investment preferences, Cross told Wealth Professional in an email, perhaps because discussions about women and wealth often centre on financial security, retirement, widowhood, or other major life transitions.
Through careers, entrepreneurship, or investments, women are “increasingly the creators and decision-makers behind significant wealth,” Cross said.
