Over the years, the impact of COVID-19, social activism and economic uncertainty have profoundly affected women’s attitudes about their finances. UBS Survey,
Nearly 9 out of 10 women believe money is a tool to achieve their personal “objectives,” the report polled 1,400 women investors in January and February 2022.
Carrie Shuffman, head of the women’s segment for UBS, said, “Many women have a deeper commitment to living life more purposefully, deliberately and making positive change in the world than ever before.”
“And we saw that women wanted to do this in a variety of ways, many of which came back to seek financial engagement and financial power,” Schaffman said.
In fact, nearly 95% of women surveyed have donated financial resources or time in the past 12 months, and nearly three-quarters have made purchases tied to their values.
Furthermore, most women want portfolios to reflect their values, with the survey finding that 79% said they want assets focused on positive environmental, social and governance impact, known as ESG.
There is a very clear connection between willingness to use money to effect positive change and then investing your money to align with those values.
Kerry Shuffman
UBS. head of women’s section for
“There’s a very clear correlation between using money to effect positive change and then investing your money to align with those values,” Schaffman said.
This conclusion a. are similar to Voted by Cerulli Associates It shows that about 52% of women prefer to invest in companies with a positive social or environmental impact, compared to 44% of men.
However, despite the high level of interest, adoption rates have been low, with only 47% of women having ESG investments, as found in a UBS survey.
Women still avoid spouse for money decisions
While most recognize the power of financial engagement, half of married women are still talking about investing and long-term money decisions for spouses.
It’s a trend that has continued over the past five years, spanning generations, backgrounds, races, ethnicities and professions, Schaffman said.
However, of women who rely on their spouses for money decisions, some 90% are actively engaged in charitable donations from their household, the survey found.
“We really see this as a potential onramp and entry point for greater engagement,” Schaffman said.
By 2020, American women control about $11 trillion, which could reach $30 trillion by 2030, a potential wealth transfer close to America’s GDP. Research From McKinsey & Company.