Wealth managers must move beyond outdated assumptions if they are to reap the rewards from a client base of wealthy women, fast growing in investment confidence.

Over the next five years, women are set to control more than 50 per cent of the world’s assets, according to Forbes — a historic transformation driven by increased workforce participation, entrepreneurial success, and intergenerational wealth transfers.

As International Women’s Day approaches, ultra-high net worth (UHNW) women are at the front of this shift, with their numbers steadily growing over the past decade. As their influence expands, the wealth management industry must evolve its services to match their distinct investment behaviours, priorities and aspirations.

For years, conventional wisdom suggested that women were inherently more risk averse than men. However, recent research challenges this outdated notion, showing women as increasingly confident investors. Fidelity’s 2024 Women & Investing Study found that seven in 10 women now invest in stocks, demonstrating their growing financial independence and willingness to take control of their wealth.

Rather than avoiding risk, women tend to approach it differently — prioritising informed-decision making, financial security, and long-term sustainability. Trust remains a key determinant in their investment decisions. Knight Frank’s Wealth 2024 report highlights that one-third of women would only work with an investment professional they trust, approximately 10 percentage points more than men.

Deliberate approach

These insights present a clear opportunity for wealth managers to move beyond old assumptions and engage women investors based on their individual knowledge, needs, and financial ambitions. A more deliberate approach is required to build trust and foster lasting relationships.

Wealth managers need to recognise this imperative and set up partnerships with higher educational establishments such as business schools. These will help equip financial advisers with both technical investment expertise and essential soft skills such as active listening, empathy and meaningful communication. These are critical in forging deeper client relationships.

Women investors also demonstrate a stronger preference for investing for impact, aligning their portfolios with personal values and societal concerns. Standard Chartered’s Sustainable Banking Report 2025 found nine out of 10 women are interested in sustainable investments, compared to eight out of 10 male survey respondents.

For UHNW women, philanthropy is an equally significant priority, with many leading their family’s philanthropic efforts.

These preferences highlight growing demand for investment solutions that align with personal values, including those incorporating environmental, social and governance considerations alongside financial returns.

Wealth managers have an opportunity to support this shift by offering greater choice and flexibility in investment strategies catering to both financial and impact-driven goals and providing bespoke philanthropic advisory services. Standard Chartered’s Sustainable Banking Report 2025 found nine out of 10 women are interested in sustainable investments, compared to eight out of 10 male survey respondents

Female entrepreneurs

Despite comprising nearly half the world’s population, women still contribute to less than 40 per cent of global GDP. However, the tide is turning.

McKinsey estimates that if women participated at the same level as men in the global economy, they could add an astonishing $28tn to annual global GDP. The rise of high-growth female entrepreneurship is one of the defining economic trends of our time, with companies led by women consistently outperforming their peers.

Yet, structural barriers, such as limited access to capital and mentorship persist. The financial services industry must step up to bridge this gap and create a more level playing field.

Private banks and wealth managers need to make formal commitments to empower female entrepreneurs and put them into practice. Projects should include provision of tailored financing for business expansion, wealth and insurance solutions for business and personal needs, and networking and mentorship opportunities to foster growth. It is crucial to provide multi-million dollar financing to women-led businesses across multiple markets in Asia and Africa, helping to fuel business expansion and economic resilience.

As women’s financial influence continues to grow, financial institutions have an urgent responsibility to evolve, adapt and innovate to meet their ambitions. Beyond personal wealth accumulation, women’s economic empowerment has far-reaching benefits — creating jobs, driving innovation and contributing to sustainable economic growth. By embracing these shifts, financial institutions can better serve their clients, drive meaningful impact and build a more inclusive, resilient financial future.

Judy Hsu, CEO of Wealth and Retail Banking, Standard Chartered