Gender Matters: Men’s and Women’s Perceptions of Wealth Are Mostly Aligned

Abstract

Over the next few decades, significant wealth will transfer from one generation to the next, with men and women making these critical decisions. Understanding the unique preferences, attitudes, behaviors, and practices around wealth provides a clearer understanding of the alignment between men and women when it comes to their wealth. Affluent men and women (N = 1236) were invited to take an online survey addressing their interest, knowledge, attitudes, and involvement with their families’ wealth management. The study garnered an 18% response rate. At its conclusion, participants were invited to a phone interview and/or an online focus group to inform women’s and men’s experience of handling wealth from their gender’s unique perspective. In total, 218 men and women participated, of which 8 men and 12 women were interviewed. Two focus groups were held, with 6 women in one focus group and 11 men in another focus group. The triangulation of the mixed methodology provided rich and interesting insights to the alignment between men and women as it relates to their wealth.

TOPICS: Wealth management, in wealth management