Men are “transaction focused” with financial planning

Women are more likely to seek professional advice with general financial planning while men seek guidance with specific needs, it has been claimed.

According to AJS Wealth Management, men are more “transaction focused” and wait until there is a particular problem or product they need advice with.

However, “with women it’s much more about feeling guilty about something, or pondering things and thinking they need to take stock of the financial part of their lives”, claimed Anna Sofat, director of the firm.

Ms Sofat said that women were more cautious with their finances and were more likely to have cash investments.

Official statistics show that 70 per cent of British adults have some kind of savings or investments.

The most popular method of saving is a simple deposit account, held by 54 per cent of the population, followed by individual savings accounts – 34 per cent.

© Adfero Ltd

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