Source of wealth, status both influence investment decisions
CHICAGO, IL–(Marketwired – Jan 13, 2015) – High Income women are an increasingly influential force in the financial markets; the latest eZine from Spectrem Group (www.spectrem.com) shows they are highly educated, knowledgeable about financial products, younger than the general population of investors and have financial attitudes and concerns that differ from male investors.
Key findings in the report include:
- The majority of high income women are willing to take a significant investment risk, more so than other affluent investors.
- Personal concerns, like children's finances and aging parents, drive many of their financial decisions, and are likely to be more important than portfolio growth.
- High income women are nearly twice as likely to have texted their advisor than other investors. They are also more likely to read financial blogs regularly, especially those from their advisor.
- While high income women are more likely to use a financial advisor (81 percent use one), they are also more likely to be dissatisfied with their advisor and cite poor communication as the main reason for their discontent.
"High income women make investment decisions differently based on the source of their wealth and their position in life," says George H. Walper, Jr., president of Spectrem Group.
"Many of these women are business owners and are accustomed to making their own decisions. Financial advisors will need to be aware that high income women don't need to be prodded to invest. They need an advisor with whom they can form a professional partnership that recognizes their knowledge and attitudes towards investment risk and return." Additional information from Spectrem eZines or other Spectrem studies can be found at Spectrem.com and Spectrem's Millionaire Corner, including:
About Spectrem Group: Spectrem Group (www.spectrem.com) strategically analyzes its ongoing primary research with investors to assist financial providers and advisors in understanding the Voice of the Investor.
About Millionaire Corner: Spectrem's Millionaire Corner website (www.millionairecorner.com) provides information for investors about investors. With its Best Financial Advisors service, investors are able to search for financial and investment advisors to assist in growing their wealth.