The wealth gap among men and women is pretty well established — with women owning just 32 cents on the dollar to men — but it does seem there is some good news on the horizon: Women are signing up for investing platforms at a faster clip than men (huzzah)!
Per a recent article from The FT, the trend of women signing up for investing platforms has accelerated in recent months. This coincides with the rise in general of people turning to online investing platforms like Robinhood and Webull for investing, but the fact that women are outpacing men is still a pretty big deal.
Per the article, EToro, a DIY trading platform, saw a 366% rise in the number of new women investors from the beginning of the year compared to a 248% increase for men. Nutmeg, an online wealth manager based in the UK, said women have in the past made up 35% of its investors, but this year that share rose to 40%. Bux, a European investing platform, saw a sixfold increase in women investor growth compared to fourfold growth for men.
“To see more women investing is incredibly positive,” Kat Mann, a savings and investment specialist at Nutmeg told The FT. “At a time when savings accounts and interests rates offer incredibly poor value, holding more money than is needed in cash could be having a long-term damaging effect on finances.”
“Women are interested in investing, they’re just short on time, especially mothers,”Becky O’Connor, head of pensions and savings at Interactive Investor told The FT. “They’re time poor, so rarely does investing make the top of the priority list.”
Ladies, let’s close this gap in the coming year! Tell a friend!
Feature Image: Adam Katz Sinding/Le 21ème