Fostering financial inclusivity for female investors

Financial marketers need to do more to nurture financial inclusivity for women, according to a report.

A study by banking-as-a-service provider Solaris found financial marketing materials lack female representation, creating a significant gender investment gap.

This lack of representation led to 71% of women surveyed not feeling knowledgeable enough to invest in “complex” financial products such as ETFs, cryptocurrencies, and credit cards.

The report said women and non-binary people prioritise security, openness, and long-term security over short-term gains, leading to a low uptake of investment products, despite high interest.

Alex Gessner, COO at ACI Consulting, said financial advertising often revolves around luxury watches, cars, and suits.

“I don’t invest because I want to be able to afford bespoke clothes, fancy watches, or a luxury car. What I want is financial security and financial stability for my family. I want a good pension,” said Gessner.

Personalised financial products are key to making financial services products more appealing to women, with 28% of respondents agreeing they want financial products tailored to their unique life circumstances, the report added.

However, 66% of female respondents said their fear of negative experiences made them prefer to learn from female advisors to avoid discrimination from male advisors.

The white paper surveyed over 220 women and non-binary people and was designed to research the barriers women face when accessing financial services products.