Private banks risk missing $113t women’s wealth opportunity

Women may control 40% of investible wealth.

Private banks risk missing a more than $100t opportunity as women are set to control about $113t, or 40%, of global investible wealth within five years, according to HSBC Private Bank.

The bank said wealthy women have historically been underserved by financial institutions, with many firms yet to fully embrace a client-centric approach tailored to female clients.

HSBC said women are more likely to see wealth as a tool for retirement planning, funding their children’s education, and making a positive impact on society. It added that women are nine percentage points more likely to support philanthropy.

The report identified investment access, advice, and engagement, and entrepreneurial wealth as the main areas where private banks need to adapt. It said women remain underrepresented in private markets and direct investments, whilst many report lower confidence in investment decision-making.

HSBC also said female entrepreneurs continue to face barriers in building and scaling businesses, including access to capital and networks. Its research found women are six percentage points less likely to have a mentor to provide business advice and guidance