Financial Advice for Women
Financial advice is important for everyone. Though, it's fair to say that throughout previous generations, financial advice for women hasn't been talked about nearly enough.Get financial advice
One of the many benefits of living in a progressive society is that more opportunities now exist for women. Financial advice can help ensure all financial avenues are being maximised, and that your portfolio is healthy.
It may be the case that as a female high earner or high net worth individual, you are yet to seek financial advice. Or, perhaps you have been through a recent life change and would like to review your financial health with an expert.
Holborn Assets have a keen interest in providing financial services for women. As a previously overlooked sector of the industry, we believe every woman can benefit from independent, trustworthy financial advice.
Whatever life stage you’re at, here is an overview of how you can benefit from our financial advice and planning for women.
In this article:
Female financial advice: An overview
For women, financial independence is a matter of necessity. – Carrie Schwab-Pomerantz, board chair and president of Charles Schwab Foundation
We all require a solid financial plan to carry us through the present day, not to mention to secure our future too. The benefits of financial advice cannot be overstated.
However, women can face additional complexities with their finances, which can threaten this basic requirement.
For instance, the gender pay gap means women often earn less than their male counterparts. Plus leaving the workforce to start a family can reduce a woman’s earnings and pension pot. The simple fact that women tend to live longer than men can also strain a woman’s finances into old age too.
Another issue is having the confidence to manage your money and make decisions. Whatever the issue you need help with, a financial adviser is there to guide you through the journey, so that any decisions will be informed.
Why women may need different financial advice
In a recent webinar on financial planning for women, we mentioned a question which was asked in a UK study. That question was ‘I feel happy with the state of my finances’. Just 37% of women responded yes to this question, compared with 69% of men.
Furthermore, CNBC reports that women typically have 3x fewer retirement savings than men. The number one tip CNBC gives to become financially secure as a woman is to become more involved with your finances.
As financial advisers, we couldn’t agree more whether you need help with retirement strategies or any other aspect of your portfolio.
Financial challenges faced by women
- Women usually earn less money than men
- Finance was traditionally considered ‘men’s business’, and in some cases it still is. This means women may lack access to information or advice which could be of huge benefit to their portfolio
- Caregiving roles such as childcare or looking after elderly relatives typically fall to women, which again reduces their earning potential
- Starting or expanding a family will have financial implications, especially if this means taking time out of your career
- Statistically, women live longer than men, meaning their retirement funds must account for this, in addition to being able to manage their own money without the input of a spouse
- Some women are the breadwinners and so will need to not only plan ahead but protect their assets
The above is just a snapshot of why financial advice for women is essential. But, as with any financial service, you may have additional concerns or reasons for seeking financial advice.
You may also be interested in: How to survive financially as a single mum
What financial services do women require?
For those in search of a financial consultant for women, we provide:
- Financial management for women
- Financial planning for women
- Financial advice for female UK expats living in the UAE
- Investment advice for women
Don’t see what you’re looking for above? Take a look at our services to find out how we can help you.
Financial planning for women at different life stages
Another consideration of financial advice for women is the different life stages you will experience. Each will require tailored advice to help you plan ahead, or best manage any existinginvestments or assets.
A common example is the decision to start a family. With many women having to leave the workforce either temporarily or permanently, this can have huge consequences for your immediate income.
Over the longer term, yourpension and savings may also be reduced. However, by seeking financial advice, you can plan ahead to lessen or at least best manage any financial implications.
Financial advice for young women is just as applicable as financial advice for women who are heading towards retirement. Therefore, financial planning and advice is a multi-faceted service that can support you throughout your entire life.
Did you know?: 💡56% of women married to men leave investment planning to their husbands. 85% believe their spouses know more about their finances.
What women look for in a financial adviser
All financial advice must be tailored to the individual, and financial advice for women is no exception.
We think it’s essential that your financial adviser takes the time to understand your specific situation.
Above all, we believe financial advice for women should instil confidence and empowerment. This is especially the case given in previous times, finance was considered ‘men’s business’. Now we’re living in a more progressive society, it’s time to ensure that as a woman, your finances receive the careful attention they deserve.
New to us here at Holborn Assets? Learn more about us, including our long history and heritage in financial services.
Financial Advice for Women: Key takeaways
Securing your financial future as a woman is just as important as it is for men. In fact, with the added challenges often faced by women, it could be argued financial advice and planning are even more essential.
The role of a financial adviser really is to listen to your specific concerns, so that a plan can be put in place to navigate any issues. Ultimately, financial advice can help you gain confidence in your money management so that you can easily move ahead with your goals.
Holborn Assets – Financial Advice & Wealth Management For Women
Are you a woman in search of financial advice? Holborn Assets is an award-winning financial advisory group with offices in 18 locations across the globe.
Our friendly, knowledgeable experts can advise you across various areas of your financial health. We also have a particular specialism in providing financial advice for female expats living in the UAE.
For any help or advice with anything we’ve mentioned above, get in touch with us and our team will contact you about bespoke financial advice for you.