More women take to investing as their count jumps 42% in 2023: Survey

The count of women investors is increasing by the day. According to a survey conducted by FinEdge there has been around a 42 per cent rise in women investors, and they save 5 per cent more for future goals than men. The study was conducted among 3,763 women clients from the age bracket of 23 to 76 years in August on the occasion of Women’s Equality Day.

The survey also revealed that 30.82 per cent of women prioritise retirement planning, signalling a major trend shift. Women also showed resilience in goal-based SIP investments, with a 19 per cent lower stoppage rate, emphasizing their commitment to long-term financial goals.

Harsh Gahlaut, CEO of FinEdge, said, “We are delighted to see more and more women leading the way and helming their family's financial plan. Temperamentally, women make better investors than men as they are less speculative, and more purpose driven. This makes them excellent long-term investors as their resilience allows them to benefit from compounding. We are certain that this trend will gather momentum in the next 3-5 years.”

“Over the last three years, women clients increased by 50 per cent, and FinEdge foresees this number surpassing 50 per cent by 2024. In regional breakdown, the West and North zones had strong female investor percentages at 34.54 per cent and 32.98 per cent, respectively. However, the East zone lagged with only 7.54 per cent women investors.”

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More and more women are focusing on their own retirement

Retirement planning is gaining traction among women. A notable 30.82% prioritise it, second only to child education planning at 32.82 per cent. 

This shift marks a new era where women independently plan for retirement or contribute equally to joint plans, ensuring financial resilience in unforeseen life events. “Without a doubt, the increasing number of women who are entering the work force and excelling at their careers is driving the trend towards increased financial independence,” said Gahlaut.

“An investment management business that specialises in women clients’ needs to take all the above into account. Traditional sales centric outfits (like bank RM’s) as well as cold DIY platforms (robo advisory) that lack the human element fail to meet their unique requirements. A bionic model that combines the best of tech and people is the key to success in this segment,” concluded Gahlaut.