Women are actively engaged in managing their finances but continue to face gaps in financial guidance, so a more tailored, life-stage-based advisory solution is needed, according to a study report by HSBC.
The study was conducted to understand how women, particularly affluent women, engage with financial planning and how effectively existing financial systems and advisory models meet their evolving needs.
The report challenges the long-standing perception that women lack confidence in financial decision-making. Instead, it finds that women are intentional about wealth management, with nearly half of affluent women beginning to take finances seriously in their 20s or earlier.
However, despite this engagement, the report identifies a significant disconnect, termed as the “Fluency Gap,” where fewer than half of affluent women feel supported by their financial advisors or institutions.
This gap reflects a mismatch between traditional financial advice and the evolving financial realities faced by women.
The report stated, “One thing is clear…. women are not disengaged from wealth, they are intentional. Nearly half (45%) of affluent women surveyed began taking finances seriously in their 20s or earlier. Despite this engagement, our research reveals another striking truth: fewer than half of affluent women feel supported by their financial institution or advisor. This disconnect is what we call the Fluency Gap”.
The report explains that financial fluency goes beyond basic education and requires adaptable planning aligned with different life stages. It noted that static financial advice often fails to address dynamic needs such as career changes, caregiving responsibilities, and longer life expectancy.
Further, the report highlighted that women’s financial priorities are not fixed and shift significantly over time. While early years may focus on savings and major purchases, later stages involve retirement planning, caregiving, and wealth transfer.
This evolving nature of priorities creates challenges when advice assumes a single long-term goal.