High Costs of Financial Advice Hinder Women's Investment Confidence

1

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The findings underscore another concern: women remain more wary of investment fees, with 61 per cent expressing concern compared to 55 per cent of men. According to Lauren Jackson from Fidelity International, these financial apprehensions are compounded by broader economic pressures, as a significant number of women are already reducing non-essential expenditures to cope with the rising cost of living.

The research indicates that even though women are less proactive in seeking advice, they recognize the importance of financial management. However, despite this awareness, women exhibit lower confidence in achieving long-term financial goals and managing day-to-day finances compared to their male counterparts. Only 13 per cent of women feel confident about meeting financial objectives, versus 22 per cent of men.

Diving deeper, the study notes a confidence gap in evaluating investment opportunities. Just 48 per cent of women feel assured in assessing investments, while 72 per cent of men display such confidence. Additionally, the disparity extends to investment actions, as 24 per cent of women have never invested compared to 10 per cent of men. Women are also less inclined to invest in shares, bonds, or pursue diversification.

Significantly, women prioritize seeking trustworthy financial advice, with 43 per cent expressing concerns over finding reliable consultants. Moreover, they desire advisors who can communicate at an understandable level, with 25 per cent highlighting this need in comparison to 19 per cent of men.

Interestingly, women diverge in their sources of financial guidance. They are more likely to turn to financial news sites (34 per cent) and personal acquaintances (33 per cent) for advice, rather than social media "finfluencers." In contrast, men show a higher inclination towards investment apps.

Promisingly, younger generations, particularly Gen Z, exhibit a growing interest in financial guidance. Half find the prospect of financial advice appealing, suggesting a potential cultural shift that could encourage more women to seek advice, thus bolstering their investment confidence.

Published:Monday, 10th Mar 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Finance News

Clear

March 2025: Australian New Car Sales Experience Slight Decline

17 Nov 2025: Paige Estritori

In March 2025, Australia's automotive market recorded a slight downturn, with new car sales totaling 108,606 units-a 0.9% decrease compared to the same month in the previous year. This marginal decline reflects the ongoing economic pressures affecting consumer spending habits. - read more

Green Loans Drive Down Personal Loan Averages in Australia

17 Nov 2025: Paige Estritori

In recent developments within Australia's financial sector, the increasing availability of green loans has begun to influence the average rates of personal loans. Green loans, designed to finance environmentally friendly initiatives such as the purchase of electric or hybrid vehicles and sustainable home upgrades, are typically offered at lower interest rates compared to standard personal loans. - read more

RBA Rate Cuts Provide Mortgage Relief, Personal Loan Rates Unchanged

17 Nov 2025: Paige Estritori

In 2025, the Reserve Bank of Australia (RBA) implemented a series of rate cuts, reducing the cash rate from 4.35% to 3.60%. This move was aimed at alleviating financial pressures on borrowers, particularly mortgage holders. Consequently, most lenders, including the major banks, promptly mirrored these reductions, leading to lower mortgage rates and providing relief to homeowners. - read more

Australia's Electric Vehicle Financing Hits $6 Billion Milestone in 2024

09 Nov 2025: Paige Estritori

In 2024, Australia witnessed a remarkable surge in electric and hybrid vehicle financing, with total loans reaching $6.17 billion-a 50% increase from the previous year. This substantial growth underscores a nationwide shift towards more sustainable transportation options. - read more

Westpac Resolves Auto Finance Class Action with $81 Million Settlement

01 Nov 2025: Paige Estritori

Australia's Westpac Banking Corporation has reached a settlement of A$130 million (approximately $81.84 million) to resolve a class action lawsuit concerning its auto finance practices. The lawsuit, initiated by law firm Maurice Blackburn in 2020, alleged that between March 1, 2013, and October 31, 2018, Westpac and its subsidiary, St George Finance, permitted car dealers to increase interest rates on car loans to earn higher commissions. - read more

Click for more Finance News