Women seeking financial advice are 45% more likely than men to have an inheritance as part of their overall asset wealth, new research from Unbiased has revealed.
A survey by the financial advice platform found that 19% of female advice seekers report an inheritance as part of their wealth, compared to 12% of men.
The survey also showed that 57% of men plan to leave assets to their female partner, compared to 28% of women doing the same for a male partner.
This insight comes as women are expected to own 60% of UK wealth by the end of this year.
Despite this, Unbiased said women are less likely to hold long-term, income-generating assets than their male counterparts. Just under two thirds (63%) of female advice seekers have pension savings versus 70% of men, while 15% of women hold traditional investments such as stocks, funds and bonds, compared to 19% of men.
Karen Barrett, founder and chief executive of Unbiased, said: “Receiving an inheritance can be the perfect catalyst to review your finances with the help of a trusted adviser. Women deserve support to take a more active role, not just in inheriting wealth but in managing their own estate planning, minimising tax and ensuring they have the finances in place for a comfortable retirement.”
Barrett said confidence in financial planning is key and access to qualified advice has a crucial role to play in helping women take control of their long-term financial goals.
“At the same time, advisers have a responsibility to recognise the unique financial journeys many women face and to tailor their guidance accordingly, supporting them not only as inheritors but as architects of future wealth,” she added.
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