From caution to confidence: how advisers can support women’s financial future

Insights from investment, protection and retirement specialist, LV=, reveal a clear gender disparity in financial confidence among UK couples, particularly when it comes to managing finances following the loss of a spouse. 

While more than half of UK adults in relationships report confidence in managing their partner’s financial affairs, men report being more assured than women (62% vs 47%, respectively), ultimately highlighting a persistent gender gap in financial security and preparedness, should their spouse pass away. 

Exclusive findings, uncovered in LV’s Wealth and Wellbeing* research, identify a potentially missed opportunity for financial advisers. Almost half (46%) of UK women do not intend to pass on their wealth through investments, compared to just 36% of men. For women, this reluctance may hinder their long-term financial growth and legacy preservation, particularly in an environment where strategic investment plays a crucial role. It’s important that advisers help their clients understand the value of investing, especially if they’re more cautious around the preservation of their wealth.

LV’s insights also reveal notable gaps in financial knowledge among couples. When asked about how familiar they are with their partner’s information in the event of their passing, some show awareness of surface-level details like bank accounts (59%) and utility providers (58%). However, far fewer understand core financial components, with only 40% knowing about their partner’s pension arrangements, and just 36% reportedly aware of their mortgage obligations. These areas are essential to long-term financial stability and emphasise the need for proactive, open conversations with both partners, ideally well in advance of any unforeseen life events.

Plus, couples with a financial adviser report higher confidence in estate planning than those without (64% vs 52%), reinforcing the value of expert support in navigating complex financial decisions, for both men and women.

Gwen Haggo, LV= Savings and Retirement Sales Director, said:

“We recognise the vital role advisers play in facilitating open, inclusive conversations, not only about future goals but also about the realities of life after loss. Our aim is to support advisers in delivering the best outcomes for all clients.

By tailoring their approach to the distinct needs of both partners, and engaging women earlier in the advice process, advisers can help to build greater financial confidence and ensure both individuals are prepared for the future.

We continue to observe a clear gender divide in investment behaviours, particularly among women who can be more cautious about investing and the impact of market volatility. Smoothed funds, among other lower risk solutions, can offer a more stable investment journey and be an effective tool for wealth preservation and intergenerational planning.

Encouraging proactive engagement today will help clients achieve their financial goals, both now and for generations to come.”