- 1'45 min
Who said that women couldn't manage their money
Since 1965, French women have been able to manage their own property – and, in particular, to open a bank account – without their husband's permission. This was just one of many milestones. Other laws would subsequently be adopted to finally give women the freedom to manage their assets without hindrance. As with the issue of voting rights in a previous era, it is worth examining whether women have adopted the same management modes as men or, on the contrary, whether they have their own specific requirements.
A survey company recently polled French women living in households with gross annual incomes exceeding €45,000 and/or possessing financial assets, including real estate, worth more than €450,000.
- 85% of the women declared that they are active decision-makers in their couple's financial or asset-related choices,
- 43% of them operate in conjunction with their husbands,
- 42% of those surveyed declared that they are the sole final decision-maker.
And they know exactly what they want. Women express a quite clear need for security. They incorporate the presence of children into their asset-building process. And they want to play a constructive role.
This is reflected by a preference for "low-risk" investments in particular, and for a proportion of alternative vehicles (SRI, microfinance and philanthropic investment).
Like men, they place the acquisition of their main residence at the heart of their strategy. Women are the financial allies of their spouses, and vice versa. Living as a couple also increases the standard of living of the members of the household, as well as its saving capacity.
Increasing access to boards of directors, the rise of female entrepreneurs and the closing of the gender wage gap are making women a prime target in their own right for distributors of financial products and services.
Over time, financial advisers can forge very strong links with their female customers. But this requires good listening skills. In addition to the financial aspects, they may offer more general services, such as the choice of a prenuptial agreement. As with men, however, trust is ultimately based on performance.