We Took Over the UK House of Lords: Gender Investment Gap

Did you know we’re missing out on improved economic sustainability? When asked, women are more likely to invest in ethical companies.

Let’s hurry and get more women investing!

Read on to hear about my visit to the UK House of Lords and what we can do to address the gender investment gap today.

<<<<< If you like what you read here, feel free to get in touch with me (Krystle McGilvery) for business support, finance coaching and workshop or programme curation and delivery. I specialise in providing behavioural-psychology-informed personal and business financial training. >>>>

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Last week, I had the privilege of joining MPs and a select group of thought leaders in finance, business, investing and technology for a breakfast roundtable at the UK Parliament's iconic House of Lords. Invited to Westminster again for my dedication to creating safe spaces and addressing taboo topics, the event focused on a critical issue: the gender investment gap.

Margo and Alexia de Broglie held the event from Your Juno, who are striving to make financial knowledge more accessible to women.

?? Below you will read about the day and interesting facts and suggestions on how to address the investment gender gap.

The day began at 8 a.m. with a long queue of enthusiastic attendees, the majority women dressed in vibrant suits and dresses, all buzzing with the shared goal of tackling the gender investment gap. The air was charged with excitement and the promise of forging new alliances to collectively address this pressing issue.

The Gender Investment Gap Today

Recent research by Boring Money highlights a troubling ￡567 billion gender investment gap in the UK, which has widened by ￡54bn in just one year. Men now have ￡1.01 trillion invested, compared to ￡450bn for women. This disparity stems from a combination of factors, including a lower appetite for risk among women and societal norms that shape financial confidence and brand awareness.

Young women, in particular, tend to be more risk-averse and less confident about investing than their male counterparts. Interestingly, female investors keep 29% of their assets in cash, compared to 25% for male investors, influenced by lower average wages and societal expectations.

The Power of Women in Investing

Simran Kaur gave a keynote about the power of women investing and how she uses her community (Girls That Invest) to increase education and lower the barriers to entry.

“Nothing bad happens when women have more money!”

This statement is illustrated by compelling statistics like only 19% of women being willing to invest in unethical companies versus 53% of men! This highlights how women are steering the investment world towards more ethical practices.

Additionally, evidence shows that women's investments often outperform men's. This isn't just good ethics; it's good economics.

So, What Now?

What can be done to close this gaping gap, and how do we start?

? Redefining Investor Identity Through Media and Cultural Representation

To bridge the gender investment gap, there's a pressing need to redefine what an investor looks like in media and culture. Financial institutions should invest in campaigns that promote diverse representations of women investors, breaking the stereotype that investing is predominantly for men.

This involves not only targeting advertisements but also collaborating with influencers and thought leaders who resonate with and inspire potential female investors (please get in touch).

? Marketing Shifts in the Financial Industry

Financial marketing often subtly targets men as investors and women as consumers. The industry needs to shift towards more inclusive marketing strategies that portray women as knowledgeable and capable investors.

By featuring real stories of diverse women who are successfully navigating the investment landscape, we can begin to reshape perceptions and encourage more women to consider investing as a viable option for their financial growth.

? Creating Supportive Investment Communities

Building supportive communities is crucial for encouraging more women to invest. These communities can provide a platform for sharing knowledge and experiences and giving encouragement, helping to boost confidence and reduce the perceived risks associated with investing.

Mind Over Money are actively working to develop these kinds of supportive environments through our workshops and programmes, making the investment world more accessible and less daunting for women.

Today, addressing the gender investment gap is not just about promoting fairness; it’s about advancing economic prosperity. By implementing these strategies, we can empower more women to take control of their financial futures and help close this persistent gap.

What will you do?

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If you feel you would benefit from speaking with me about better supporting your clients, get in touch at [email protected] or send me a DM.

I'm Krystle McGilvery, a Business Partner and Money Coach for Professionals and Service-Based entrepreneurs, Chartered Accountant, and CBT Coach. My work helps individuals transform their money mindset, enhancing both their financial situation and confidence. Visit Mind Over Money to find out more. Or learn more about me here.