Australian women are closing the gap on men when it comes to investing.
Female investors have historically been left behind due to the gender pay gap when it comes to financial services opportunities but now the tables are turning, according to a whitepaper by investment services provider Ausiex.
The firm found that advised female investors now outnumber males for the first time since records began in 1996.
In March 2021, advised female clients in Australia grew to 52.4% from 47.3% in November 2019.
Additionally, the number of women acting as primary account holders rose as well to 39% from 33%, with the fastest growing groups being women under-20s and those between 40 and 50 years of age.
Ausiex said its findings are consistent with other industry research, such as the one conducted by the Australian Securities Exchange which found that 45% of new investors in the past year were women, up from 31% five years ago.
Opportunity for advisers
“It is pleasing to see that females are increasingly driving the advised relationship,” Ausiex head of product & distribution Andrew Stewart said. “Women are taking control of their financial destiny, which is a reflection on the growing participation of women in the workforce.”
The growth in female advised clients has also outgrown the number of female DIY investors, the firm found, with the latter falling to just under 33% in March 2021.
Stewart added: “While our data has revealed a growing participation by female investors, they are also seeking support and help with their trading and investment strategies. There is definitely a role for the adviser.”
