InvestEngine & FemaleInvest partner to close gender investment gap
By Gloria Methri
Investment platform InvestEngine is partnering with FemaleInvest to help more women maximise their savings and close the gender investment gap.
According to FemaleInvest, women around the globe currently earn on average 37% less than men, and at the current rate, it will take 267 years to close this financial gap. These barriers have a direct impact on women’s personal finances and ability to invest in their financial futures.
In the UK specifically, InvestEngine research found that while men and women are equally likely to be putting money aside each month, women are far less likely to invest their money, preferring to keep it in savings accounts where the likelihood of good returns is much lower over the long term.
So, to help raise awareness about investing amongst women, InvestEngine has partnered with FemaleInvest to offer a series of events throughout September, October, and November to help solve these challenges.
Elspeth Brown, Marketing Manager at InvestEngine, said, “The fact women are paid 14.9% less than men in the UK means they have less money to actually invest in the first place. This makes it even more important for women to know how to make the most of the assets they have.”
He added, “One of the big issues is education – for example, our research shows 40% of women don’t know how stocks and shares ISAs work compared to just 29% of men, and this – combined with a lack of funds and aversion to risk – is creating a huge investment gap that desperately needs bridging.”
Lærke Engelbrekt, Community Lead and webinar Host at FemaleInvest said, “We are on a mission to close the financial gender gap by educating women on everything from managing their finances to investing in the stock market and empowering them – an important part of which is ensuring they have equal access to investment tools. That is why we are pleased to partner with online investment platform InvestEngine.
“InvestEngine’s innovative platform offers both managed and DIY options – those who prefer someone else to make investment decisions for them can choose that option, while those who prefer to make their own decisions can pick and manage their own investments for free.”
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