This is not the beginning of an old joke, but a survey conducted by Fidelity Investments of millionaire women. Accordion to the survey …
- These women tend to be more conservative [than men] in their overall investment holdings and added more conservative instruments over the previous 12 months.
- For women, domestic stock mutual funds were the most owned investments (64%), while men invested in domestic individual stocks (84%)
- Women reported feeling less bullish about the market and less wealthy than men
- Millionaire women tended to be more interested in holistic financial planning (41%) while men reported a greater focus on investment returns (50%).
- Forty-four percent [of women] said they needed professional financial advice more than in the past and 49% who didn’t already work with an advisor said they would like to find an advisor they trust to manage their assets.
It has been our experience that women with less than a million dollars share the same objectives and views toward investing as their richer sisters.