The financial influence of women is accelerating—but many firms are still using outdated models to serve them. Financial institutions that take the time to understand and support women investors thoughtfully are gaining both new assets and longer-term relationships.
Women in the United States are expected to control an estimated $30 trillion in financial assets by 2030—a major realignment in asset ownership driven by demographic, economic, and social shifts.
This transition is not abrupt or surprising. But some of the approaches companies are taking for success in managing female wealth are.
To begin, why the rise of female wealth? It’s the result of long-term trends–women are living longer, inheriting wealth, participating more in the workforce, and attaining higher levels of education. According to McKinsey in their recent paper “The Face of Wealth, The Rise of the Female Investor,” from 2018 to 2023, the amount of wealth controlled by women grew by 51%, outpacing the broader growth in financial wealth of 43% over the same period.
The opportunity then? Despite this growth, women today still remain less likely than men to work with a financial advisor—53% of female-controlled assets are unmanaged, compared with 45% for men. This difference represents a meaningful opportunity for firms that are able to adapt their approaches to serve female wealth.
Understanding the Client, Not Just the Market
Many firms still treat women as a niche audience or use superficial gender-based marketing approaches that fail to resonate. Do the ads targeting women investors really have to highlight the color pink? BCG’s research highlights a better starting point is understanding how women think about wealth. Their investment decisions often reflect long-term goals tied to family, security, or legacy, rather than short-term investment performance. ESG investing presents another differentiating example: 64% of women consider environmental and social impact in investment choices, compared with 40–50% of men.
And when women do invest, despite a tendency toward caution, their performance is often strong. Studies show women tend to earn slightly higher average returns than men, partly due to a longer-term approach and lower trading frequency.
Women are also demonstrating increasing confidence in financial decision-making, particularly in younger age groups. For instance, among U.S. women under 50, the share expressing confidence in achieving their financial goals rose from 48% in 2018 to 61% in 2023, according to McKinsey. This growing self-assurance is accompanied by greater willingness to switch providers: 56% of U.S. women aged 25 to 34 report being likely to change banks, compared with just 19% of women over 65. Meanwhile, older women—particularly those over 50—are more inclined to pay a premium for in-person financial advice. This trend likely reflects the rising number of widows and divorcées in that demographic, and their preference for customized solutions.
Tailoring Services to an Underserved Segment
Client service models must be reshaped for women. Female clients consistently express different preferences than male clients—particularly around communication style, goal orientation, and transparency. Personalized advice, delivered clearly and aligned to values, matters more than chasing top-quartile returns. And a recent paper by Capital Group goes further in highlighting the effectiveness of appealing to a woman’s aspirations–like financial freedom—in particular for younger women.
Moreover, and not surprisingly, representation in advisory teams matters. Women are more likely to engage when they see diversity and feel that their perspectives are understood. And equipping advisors to have different kinds of financial conversations is critical, including style of communication. Savvy companies know to adapt to women’s communication preferences, such as leading with questions rather than directives, and prioritizing phone calls over meetings for check-ins.
The most successful firms are also implementing structural changes. Onboarding strategies are being tailored to ensure comprehensive financial goal capture, including planning around life transitions—such as caregiving, widowhood, or entrepreneurship.
What happens now
The increasing financial influence of women is already reshaping wealth management today. Yet many firms continue to apply outdated assumptions or treat women’s needs as peripheral. Such an approach comes with a cost not just in missed business, but in lost relevance for those firms.
Financial institutions that take the time to understand and support women investors thoughtfully are gaining both new assets and longer-term relationships. The opportunity is not in making bold claims—an approach most women abhor. It’s in doing the basics—better.
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