Women and wealth:
Navigating wealth protection and financial empowerment
Women are making remarkable strides in diverse fields such as business, finance, philanthropy, and entrepreneurship. They are breaking barriers, challenging traditional norms, and driving positive change.
At Irwin Mitchell, we recognise the importance of empowering women. This is why we actively support women, contribute to their success, and help them navigate through legal complexities - ensuring they continue to thrive in both their professional and personal lives.
To further support women in achieving financial security and independence, we set out to gain valuable insight into the needs, preferences, and challenges faced by women by surveying those experiencing financial growth. This allowed us to better understand their concerns, priorities, and expectations so that together, we can overcome life's ups and downs.
Working with YouGov we surveyed 501 women with investible assets between £100K and £10m (excluding property). This included, for example: savings, investments, shares, stock and option holdings held in a company, pension fund if retired, and properties other than their main residence. The full breakdown is provided below:
Women (18+) with investible assets valued between:
£100k-£249k
£250k-£499k
£500k-£749k
£750k-£999k
£1m+
Within this report, we will delve deeper into the challenges faced by women when both generating wealth and protecting it. We hope you enjoy reading it and joining with us in our mission to support women and their wealth protection goals.
Paula Myers
Director of Legal Services for Private Client Services
By 2028, women will account for 75% of all discretionary spending and will therefore have more financial control - and that needs advice. There is reference to The Great Wealth Transfer in the next 20-30 years where women will not only achieve more independence but will need financial advice to protect their assets and investments. We can see from our data, that wealthy women have an appetite to learn about finances and investments. However, it’s important that they are aware of, and have access to, the right tools to help them manage and protect their wealth effectively. The best way to protect and grow your wealth is to be proactive in managing your assets and not leave things to chance.