Women Are Gaining Wealth—But Many Lack Support From Financial Specialists

As the “great wealth transfer” accelerates and women are expected to control more than 40% of global wealth by 2030, some are reporting that they do not feel supported by financial advisers or institutions.

An HSBC study conducted in January in partnership with Ipsos surveyed 2,056 U.S. adults with investable assets exceeding $100,000, including 1,045 women, to better understand how affluent women viewed their financial lives. The key finding was that while many surveyed women were actively earning, saving and investing, they often felt underprepared for larger financial decisions.

From Education to Action

Among respondents, 70% of women said financial education tailored to their life stage would improve their decisionmaking. The HSBC report defined this as a “fluency gap”—the space between having information and knowing how to apply it in real life.

The gap was not due to a lack of effort—the survey data showed the opposite. Nearly half (45%) of affluent women surveyed said they began taking their finances seriously in their 20s or earlier.

“Our research shows that women are highly engaged in their financial lives, but engagement alone isn’t enough,” said Racquel Oden, HSBC’s U.S. head of international wealth management and private banking, in a statement. “Financial fluency is about knowing what to do and when to do it as life evolves.”

Oden said that financial institutions need to provide guidance that “shifts with women’s lives.”

Financial priorities shift significantly across life stages: In their 20s, women often focus on supporting family, making major purchases and building wealth. By their 40s, many are balancing long-term investing with caregiving responsibilities. By their 60s, the focus turns to generating income and securing long-term financial stability.

As these priorities evolve, so does the definition of financial success—underscoring the need for guidance that adapts alongside them.

Longer Lives, Bigger Demands

Women need financial strategies designed for longer horizons, greater savings demands and the realities of caregiving. They tend to live longer than men—women’s life expectancy is about 80.2 years, compared with 74.8 years for men, according to data from the AARP and Centers for Disease Control and Prevention. More years often mean more expenses, rising health care costs and a higher likelihood of managing finances alone later in life.

Nearly two-thirds of female respondents reported that they factor others into their financial plans, and 43% said they prioritize leaving financial security to loved ones—10 percentage points more than men.

Even among surveyed women with more than $100,000 in investable assets, many felt unprepared: Fewer than one-third of those surveyed said they felt ready for long-term care (32%) or aging-related expenses (29%). Notably, 17%—especially Generation Z and Millennial women—reported daily financial stress.

Overall, 49% of affluent women surveyed said they were extremely or very confident in their financial plan, but that confidence shifted by life stage. Extreme financial confidence was shared by significantly more Gen Z (35%) and Millennial women (29%) than Baby Boomer women (12%). The amount of respondents’ wealth also mattered: Those with between $100,000 and $500,000 in investable assets reported far less financial confidence (40%) than those with $500,000 to $1 million (63%); $1 million to $5 million (72%); and at least $5 million (75%).

The survey findings were based on an HSBC online survey conducted with Ipsos from January 5 through January 8. Participants had investable assets of at least $100,000, and they were weighted to reflect the U.S. population. HSBC Holdings is a British universal bank and financial services group headquartered in London.