Why more women should be seeking financial advice

A recent survey by Fidelity’s Unlocking the Power of Financial Advice found that 21% of men aged between 18 and 34-years-old had sought help from a financial adviser, compared to just 12% of women of the same age.

This is even though almost 25% of women worry about money daily.

Susie Laws, Director and Senior Financial Planner at Fiducia has spoken about the gender gap before and is passionate about ensuring more women seek advice and look to grow their savings, rather than just squirrel it away:

“An adage in the financial sector goes that women save, and men invest, and this still rings true. It seems that even women who have money to put aside tend to squirrel it away rather than try to grow it. In the last year, there’s been a lot of discussion around women’s financial security, with Helena Morrissey using her status to make statements on the subject, so we hope that the tide will be turning.”

By not seeking advice in their younger years, some women risk falling behind in the crucial accumulation phase too. On average, women in the UK face retirement with 39% less in their pension pot than men, according to the Financial Reporter.

At Fiducia, we adopt a warm and informal approach to client relations, while maintaining the highest standards of expert advice to be expected from a chartered firm. To provide advice is to help our clients reach their goals. The loyalty of our clients and the referrals we receive reassure us that our services are helping our clients towards achieving more financial security.

The report from Fidelity found that when women did seek advice, they came away happy with the service, with 72% reporting they would recommend professional financial advice to a loved one.

If you feel that you or a member of your family could benefit from some tailored financial planning advice, then visit the website to book an appointment or give us a call.