Why Financial Services Targeted at Women are a Huge Opportunity

Canadian Business | March 08, 2017
Cb

Karin Mizgala wasn't surprised when her friend, an educated woman with a PhD and a high income, told her that she hates thinking about money. It's something the financial advisor and co-founder of Money Coaches Canada (MCC) gets all the time from women, and while she understands where they're coming from, it still pains her to hear.

Women control about 33% of the wealth in North America today, the highest share in history and a number that is growing roughly 8% per year. Even still, they are reluctant to invest their money at the same rates as men. According to one survey by Lean Vest, an online financial planning service, men are five times more likely than women to prioritize investing with the goal of growing their personal net worth. Meanwhile, 45% of men report being "financially confident" compared to 27% of women.

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