How women are reshaping wealth, and the challenges that still remain

For much of history, women have often been excluded from financial decision-making in the household. 

Indeed, property ownership and investment opportunities were limited, leaving many women without the ability to build long-term financial security. 

While these disadvantages were once widespread, things have changed considerably in modern times. 

These days, many women are influential in shaping the economy, with more women than ever becoming entrepreneurs, investors, and professionals. 

According to research from Unbiased, women are expected to hold 60% of the UK’s wealth by the end of 2025, reflecting a significant shift in economic influence. 

However, considerable challenges remain. Only 31% of women surveyed said they’d received financial advice, while 69% had never received any, compared to 64% of men. 

This highlights the persistent advice gap and other financial challenges that women continue to face.

Continue reading to learn about what women still need to overcome, and how we at Belvedere Wealth strive to help you address them.

Women are better represented in business than ever before

Across the financial services profession, representation for women continues to rise. According to the British Private Equity & Venture Capital Association (BVCA): 

• 27% of UK-based investment professionals are women, up from 24% in 2023

• Women now hold 15% of senior investment roles, up from 12% in 2023.

Moreover, the UK now ranks among the top three European countries for women’s representation in investment teams, behind only France and Sweden. 

While women are still underrepresented, these shifts show a clear change in the gender balance of financial institutions. 

Women are increasingly taking control of their financial futures, focusing on independence and long-term stability.

Despite positive changes, there are still challenges that need to be addressed

Despite the significant progress in recent years, certain challenges continue to affect the financial outcomes of women around the world. Here are four. 

1. The gender pay gap

The gender pay gap is perhaps one of the most well-known barriers to equality. In April 2024, the Office for National Statistics reported that the gender pay gap for full-time employees stood at 7%.

While improvements have been made, full parity has yet to be achieved. This may be partly due to the “glass ceiling”, which limits women’s access to high-paying roles.

As mentioned, the situation in the UK has markedly improved, with more women occupying board positions than ever. Still, a disproportionate number of senior executive roles are held by men.

Since this issue is systemic, it can be particularly difficult to change without long-term effort. 

A financial adviser could help align your plan with your life goals, ensuring your objectives come first.

They can work with you to create a plan that ensures your wealth grows and you achieve your goals, regardless of your gender.

2. Pension inequality

Differences in pension income still hold women back from achieving their dream retirement lifestyle. 

Research from Legal & General shows that the pension gap begins from the outset of a woman’s career, with an initial 16% shortfall in contributions. By retirement, the average man’s pension fund is twice the size of the average woman’s.

Taking time out for childcare – which women are often more likely to do than men – often interrupts pension contributions and reduces overall savings, leaving a financial gap that only grows with time. 

To close the gap, it’s vital to keep up with pension contributions, even during periods of reduced income. If you are unable to do so, it’s a good idea to make up for any shortfalls when you return to work.

A financial planner can help you maximise tax relief to improve your long-term financial security.

They can also help you work out how much you might need to fill any gaps, and can then perform regular reviews to check whether you’re still on track to build the pension you need.

3. The investment confidence gap

While investing is often seen as a way to achieve financial independence, many women still lack confidence in this area.

According to PA Future, 64% of women claimed to have little or no knowledge of investments compared to 43% of men. Only 19% of women felt they’d received sufficient financial education during their school years, showing there is a clear need for earlier financial literacy initiatives. 

When you feel uncertain about investment decisions, it can be tempting to avoid them altogether. However, this often means missing out on opportunities to build and grow wealth over the long term. 

With a planner’s support, you could gain confidence in your choices and take more of a proactive role in managing your wealth.

4. The divorce gap

Divorce is mentally and financially challenging for anyone, but women are more likely to experience hardships due to it. 

Legal & General found that 24% of women struggle financially after divorce, compared to 16% of men. What’s more, 19% of women find it hard to meet the cost of essentials, versus 10% of men.

This disparity is often a result of the fact that women are more likely to take on caregiving responsibilities, which could reduce their earnings and pension contributions during the marriage.

Then, when the relationship ends, the financial consequences for women can be considerable, especially if assets and pensions weren’t split equally.

Financial planning both during and after divorce could make a difference. By assessing your assets, pensions, and future income needs, a financial planner could help you rebuild a solid foundation for the next stage of life.

Our advisers at Belvedere Wealth are experienced in helping women overcome hurdles

At Belvedere Wealth, we recognise that, while women are increasingly leading the way in wealth creation, there are still distinct challenges. 

As such, our services are designed to help you take control of your financial future with clarity and confidence. 

We offer tailored investment advice, retirement strategies, and protection solutions to help bridge the gender wealth gaps. 

Whether you’re building your career, managing a family, or preparing for later life, our advisers will work alongside you to develop a plan that supports your ambitions and reflects your values. 

One of our trusted advisers, Dineo Ledwaba-Chapman, has extensive experience supporting women as they navigate considerable financial milestones. She said that:

“When women gain clarity and confidence about their finances, they make powerful decisions not just for themselves, but for generations to come.”

Meanwhile, our expert protection adviser, Ella Weinberg, focuses on bolstering financial resilience and ensuring peace of mind. She explained: 

“Women are reshaping what wealth looks like; we’re building wealth that reflects our values, lifestyles, and families. But what’s still missing from many women’s financial plans is protection, as there’s a growing gap that’s rarely discussed. 

In regards to insurance, especially income protection and critical illness cover, it’s often treated as optional. Yet, for women balancing multiple roles as business owners, mothers, and carers, it’s the backbone of financial resilience. Without it, one unexpected event can undo years of progress. 

We’ve already proven that women can earn, invest, and lead powerfully. Now, it’s time to ensure we’re just as intentional about protecting what we’ve built.”

Belvedere Wealth believes in empowering you to make informed and confident decisions about your wealth.

We help you build investment confidence and manage change, supporting you at every stage of life with practical advice.

If you’d like to find out more about how we can help, please fill in our online contact form, email us at enquiries@belvederewm.com, or give us a call at +44 (0)203 633 6603.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.

All information is correct at the time of writing and is subject to change in the future.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance. 

The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. 

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

Note that life insurance and financial protection plans typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.

Cover is subject to terms and conditions and may have exclusions. Definitions of illnesses vary from product provider and will be explained within the policy documentation.