High Costs of Financial Advice Hinder Women's Investment Confidence
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.
Recent research from Fidelity International reveals a significant gender disparity in financial advice uptake and investment confidence.
Conducted among over 1,000 Australian consumers aged 18 to 59, the study, titled "The Next Generation," highlights that only 16 per cent of women seek financial advisers, compared to 22 per cent of men.
A staggering 50 per cent of women cited financial advice costs as a major deterrent.
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.
In a strategic move to bolster its customer support offerings, Isuzu Australia Limited (IAL) has announced the establishment of Isuzu Financial Services Australia (IFSA). This initiative marks the first time the Isuzu Group has founded a leasing company outside Japan, reflecting a significant commitment to the Australian market. - read more
The Clean Energy Finance Corporation (CEFC) has partnered with Volvo Group to introduce a $70 million financing package aimed at accelerating the adoption of heavy-duty battery electric trucks (HD BEVs) in Australia. This initiative seeks to address the substantial transport-related emissions by facilitating the transition to cleaner vehicle technologies. - read more
The Australian truck and van market has experienced a notable decline in 2025, with sales figures indicating an 11.8% decrease compared to the previous year. According to the Truck Industry Council (TIC), a total of 33,727 heavy vehicles were sold by the end of September, marking a significant drop from the 38,254 units sold during the same period in 2024. - read more
The Clean Energy Finance Corporation (CEFC) has partnered with Volvo Group to introduce a $70 million financing package aimed at accelerating the adoption of heavy-duty battery electric trucks (HD BEVs) in Australia. This initiative seeks to address the substantial transport-related emissions by facilitating the transition to cleaner vehicle technologies. - read more
Total Logistics Solutions (TLS), a rapidly growing Australian logistics provider, has taken delivery of its first battery electric truck from Scania. This milestone marks a significant step towards greener last-mile deliveries in urban areas. - read more
Managing repayments for a commercial vehicle loan is a critical aspect of running a successful business. Without a solid plan, unexpected costs and missed payments can create financial strain. - read more
Getting a truck loan is a significant financial commitment, especially for commercial vehicles. Understanding the terms of your truck loan is crucial for managing your finances effectively and ensuring that you can meet your repayment obligations. - read more
Keeping your truck in top condition through preventive maintenance is crucial for extending its longevity. Regular check-ups and timely repairs can save you from unexpected breakdowns and costly repairs, keeping your truck on the road for years. - read more
Securing a loan for commercial trucks is a crucial step for businesses in the transportation and logistics industry. Without a reliable fleet, companies may struggle to meet the demands of their clients and risk losing valuable contracts. This is why obtaining loan approval is not just beneficial, but essential for many Australian businesses aiming to expand or update their operations. - read more
The pursuit of a quality truck or fleet can be a significant undertaking for any business, especially within the dynamic and ever-expanding Australian transport industry. An understanding of the variety of financing options available within this sector is crucial, as it allows businesses to strategically acquire heavy vehicles that are vital to their operations. - read more
Start Here
Get a free truck loan eligibility assessment and compare truck finance and leasing options
without accessing your credit file!!
Knowledgebase
Principal: The original sum of money invested or lent, on which basis interest and returns are calculated.
