AJ Bell has launched a gender investment gap campaign to help more women engage with investing.
AJ Bell Money Matters will be led by Helena Morrissey, chair-elect of AJ Bell and founder of the 30% club.
The campaign was launched on the back of AJ Bell’s new research which found that the average level of savings and investments held by women is £49,000 – less than half the average amount held by men of £114,000.
Women save an average of £180 a month, compared to £306 among their male counterparts.
AJ Bell said extrapolating the £65,000 difference in savings and investments between men and women across the UK population puts the UK’s gender investment gap at a staggering £1.65 trillion.
The research found the gender pay gap to be the biggest driver of this discrepancy, but it also showed a lack of confidence among women when it comes to investing and the risks associated. Less than four in ten (37%) are confident that their long-term investments will meet their goals.
The AJ Bell Money Matters campaign is designed to give women the information and inspiration they need to become more confident investors through a new podcast series, monthly newsletter, webinars, events, videos and Instagram account.
Helena Morrissey said: “Women often have an ambivalent relationship with money. Some find it an awkward, even embarrassing, subject. We like the freedom and choice that money gives us, but while we might happily discuss topics as wide ranging as politics, relationships, work, health and fashion with our friends, financial issues are something of a taboo.
“The problem is, not talking about something often means not dealing with it – and not properly dealing with money undermines women in a very basic way. If we want true equality, we should be looking after our financial well-being in the same way that we look after our physical and mental health, our careers, homes and relationships. Our lack of engagement with the topic puts us at a significant disadvantage, and one that tends to increase with age.
“Through AJ Bell Money Matters we want to give women free access to information, stories and conversations that we hope will inspire them and give them more confidence when it comes to money and investing.”
Andy Bell, chief executive at AJ Bell, commented: “I’m excited to launch AJ Bell Money Matters and Helena is the perfect person to lead the charge. About a third of new customers joining our investment platform at the moment are women and we’d like to see that get much closer to the 50:50 split across the adult population. Many women enjoy investing once they get started, so one of the first challenges is to help bring more women into the conversation about investing and give them the tools and information they need to get started.”
[Main image: amy-hirschi-K0c8ko3e6AA-unsplash]
