EY: Serving wealthy women an opportunity for wealth industry

WOMEN investors present a huge opportunity for the wealth management industry, says research by EY, but most wealth managers see gender as the least important source of client differentiation.

However, EY's study Women and Wealth, The case for a customised approach cites key gender-based differences. One, for instance, is that women's investment goals differ from men's. Wealthy women see the fulfilment of personal goals as the most important investment priority (40 per cent), significantly ahead of market performance (31 per cent).

In contrast, male investors see pure performance as the leading objective (37 per cent) and personal goals are seen as a lower priority (34 per cent). "This suggests that firms who take the time to understand women's personal investment goals and build those aspirations into a detailed plan reap important rewards in terms of client loyalty," said EY. Personal goals may be as varied as starting a business, elder care, and funding education for children.