A study has revealed a notable difference in the likelihood of women seeking financial advice after significant life events, in comparison to men.
The Women and Wealth Report 2025, conducted by Schroders Personal Wealth (SPW), involved a survey of nearly 500 women. It explored how four major life transitions—parenthood, divorce, retirement, and bereavement—affect women’s financial decisions differently than those of their male counterparts.
The findings highlighted persistent disparities in financial approaches between genders throughout all four life events studied.
Women tend to rely more on family and friends for financial guidance rather than turning to professional advisers, with 25% of women noting challenges in finding an adviser they trust.
The impact of the gender pay gap and career interruptions due to caregiving responsibilities was identified by 37% of respondents as a factor that hindered their saving abilities.
Parenthood
The report revealed that only 11% of women consulted a financial adviser following the arrival of a child, compared to 23% of men.
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A significant number of women take career breaks to raise children, which greatly influences their financial stability. Approximately 59% of respondents indicated that the loss of regular income following parenthood hindered their investment or saving efforts.
Furthermore, the increasing costs of childcare might deter those looking to re-enter the workforce.
Divorce
Around 63% of participants noted that adapting to a single income was their most significant challenge post-divorce.
Nearly half (49%) indicated that the loss of a dual income was a major change to their financial situation after divorce. Similarly, many reported increased living costs and a diminished capacity to save or invest.
Over 52% of women leaned on family and friends for financial support during this time, while merely 13% sought help from a financial adviser.
Retirement
Just 11% of women expressed feeling ‘very confident’ about their retirement savings, in contrast to 25% of men.
The primary concern among women was inadequate savings, mentioned by 59% of respondents, with inflation and rising healthcare costs also highlighted as pressing issues.
A lack of financial literacy was another hurdle, with 25% of women citing it as a barrier to effective retirement planning.
Bereavement
In times of loss, many women also grapple with financial uncertainties following the death of a partner. Half of the respondents reported that managing household expenses alone became their greatest financial hurdle, with 48% struggling to adjust to a single income.
More than a third of women felt compelled to re-evaluate their financial goals during this tough period, but only 19% turned to a financial adviser for assistance.
‘Everyone needs a plan’
Katie Nutting, financial planning director at SPW, emphasized, “Everyone needs a plan. Understanding what you are working toward financially is crucial for making your dreams a reality. However, the financial strategy you establish at the start of your journey may evolve over time.”
She added, “Unexpected life events can arise, and for many women, transitioning from cash to investments can be a significant barrier. It’s not that women are risk-averse; they simply prefer to make informed choices.”
Nutting concluded, “Providing knowledge—such as the understanding that investment returns can fluctuate and are not guaranteed—along with ensuring access to high-quality advice, is essential for women’s financial empowerment.”
