According to DSP Winvestor Pulse 2022 survey, a higher proportion of men (40 per cent) compared to women (27 per cent) take investment decisions without consulting a professional advisor. Interestingly, women consult their spouses much more than men do while more men consult their fathers than women when it comes to jointly deciding upon investments. Most women and men did not express any gender preference, but of those who did, the majority prefer male advisors. Also, most women were introduced to investing by their spouse while most men claim to be self-taught. Here are four charts that capture these trends.
Independent decisions
Nearly 2 out of 3 men (65 per cent) take investment decisions largely independently, but only a minority (44 per cent) of women do so.
Spousal reliance
Among those who take investment decisions along with someone else, women (67 per cent) claimed to consult their spouse much more than men (48 per cent) do. More than double the proportion of men (26 per cent) said that they consulted their father for making investment decisions than women (10 per cent).
Gender preference
Most women and men (~80 per cent) did not express any gender preference.
Of those who did, most mentioned preferring male advisor.
Investing introductions
Most women were introduced to investing by their spouse.
Most men claimed to be self taught, a large percentage of men were introduced by their father.