International Women’s Day: Taking charge of the financial future

At a glance

• More women (52%) report feeling uncertain about the future, compared to 47% of men.²
• Women are more likely to take on caring responsibilities during their lifetime, which can impact lifetime earnings and their ability to save and invest for their future.
• The gender pay gap continues to hamper the ability of women to save for retirement, evidenced by a continued gender pensions gap.³  

Women are set to inherit trillions of pounds due to a huge generational transfer of assets over the next three decades.¹ Yet they are less likely than their male counterparts to have a financial plan in place.²

As International Women's Day (IWD) is celebrated on 8 March, campaigners are calling for women to take greater control of their finances.

Barriers to women seeking financial advice

There are a broad range of issues that can prevent women getting financial advice. These include the financial challenges many face throughout their lives if they need to take time out of the workplace for caring responsibilities, such as raising children and looking after elderly relatives.

For women in work there is also still a significant pay gap. And this feeds into a gender pensions gap. The gender pay gap stood at 6.9% in April 2025³, while the gender pensions gap is 48%, according to government figures⁴.

Even for women with significant assets and wealth, there can often be a cynicism or hesitancy around getting professional financial advice. This is sometimes down to a perception of the financial services industry as male dominated. Many women might be wary of being patronised or feel the advice won’t suit them.

Financial advice plays a crucial role

Financial advice can be helpful at any time of life. However, many people seek advice during significant life events, such as bereavement and inheritance, divorce, or when starting a family.

The support and help offered by a financial adviser can be invaluable at these times, which can often be emotionally charged and stressful.

Taking the time and effort to find a suitable adviser may feel daunting, but it can pay off over the long term, leading to greater financial stability.

Claire Trott, head of advice at St. James's Place, says: “Having grown up in a single parent household where my mum was an amazing person who never would have shown that she was struggling financially, I am now in the position of supporting her in her retirement. This wouldn’t have been the case if she’d had the correct advice when I was young, missing out on state benefits and state pension accrual, for example. It means I’ve always taken a keen interest in my own finances, and it has probably been a driving force behind my career goals.  

“More women need to engage with their finances, ensuring they have their own plans in place as we never know what the future will hold. Women have additional challenges, such as the societal expectations with regards to caring responsibilities, not only for children but also for parents when needed.

This adds further dynamics to saving and investment and can often mean time out of the workplace, or reduced earnings capacity, all of which need to be factored in.

“There is a lot that can be done to bring greater parity, but without addressing the gender pay gap and the gender pensions gap, things won’t improve.”

Top tips for accessing financial advice

• Understand the role of the adviser and how financial advice and a detailed financial plan will help you.
• Define your financial goals: what are you looking to achieve over different time frames?
• Ask questions. Make a note of your questions, concerns, and goals ahead of your first meeting with your adviser. You should leave the meeting feeling fully reassured and empowered about your finances.  

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

Sources
¹Unbiased.co.uk. Press release - December 2025
²St. James's Place. Real Life Advice 2025 - Chapter 1. On behalf of SJP, Opinium surveyed 8,000 adults between 22 July 2025 and 5 August 2025. Of those surveyed 52% were men, 48% were women.  
³Office for National Statistics - October 2025
⁴ Department for Work and Pensions - July 2025

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