How Do Women Invest?

Physician's Money Digest, September30 2004, Volume 11, Issue 18

When it comes to investing, affluentwomen are more likely to use a financialadvisor than their male counterparts,according to a survey by the consultingfirm Spectrem Group. About seven of 10well-to-do women use professionaladvice to guide their investment choices,compared with 62% of wealthy men.Women are also more risk-sensitive thanmen, with only 60% saying they wouldtake calculated risks with their assets,compared with 75% of the men. Also,more than half of the men surveyed havea mad-money stash for high-risk investments,while only 42% of the womendo. On the whole, women are also moresatisfied (75%) than men (66%) withthe services their financial advisor providesand are more likely to follow anadvisor who switches firms.