Women not only own and control greater wealth than ever before, they are also changing the direction of wealth management and the goals of wealth creation. HNW Millennial women, in particular, are taking a new direction.
The Economist Intelligence Unit undertook a study of high-net-worth women and men (individuals with US$1 million or more in assets), sponsored by RBC Wealth Management. The survey covered 1,051 individuals (502 women and 549 men) in Canada, the U.S., the UK and Asia (mainland China, Hong Kong, Singapore).
While many women still feel some of the familiar gender constraints, particularly as decision makers, the survey suggests that the younger they are and the more wealth they accumulate, the less these apply. The picture that emerges is of high-net-worth women who routinely start and run businesses and who increasingly direct their own wealth-building. The more assets they accumulate, the more they direct their wealth and legacy planning themselves and the more their individual influence will be felt.
What follows are key findings and insights about a growing and very diverse group of women who are fundamentally rethinking the meaning of wealth and giving and who are designing legacies that will affect the world the next generations inherit.
Click the thumbnail below to download the global executive summary.
Read additional articles from The EIU with detail on the changing face of wealth in Asia, Canada, the U.S. and UK on RBC's website.
