Advisor | June 2025
As part of the intergenerational phenomenon known as the “Great Wealth Transfer,” the largest transfer of wealth in decades, it is expected that $124 trillion will change hands globally by 2048.
In most cases, these transfers occur when spouses leave money to their surviving partner or parents leave an inheritance to their children.
According to an in-depth analysis by Bank of America’s global research team, 70% of this mountain of money will pass from men to women: women are living longer on average, and their evolving autonomy and professional growth are finally accelerating their economic growth.
On the one hand, it is therefore appropriate for women to gain greater control and leadership in managing their savings and assets; on the other, it is crucial for the financial advisory industry to become aware of the specific characteristics of this client segment.
In Italy, the presence of women among financial decision-makers is growing, especially among the wealthiest customer segments: 46% in the mass market segment (+1% vs. 2023), 37% among affluent clients (+3% vs. 2023), and 27% in the private segment (+5% vs. 2023).
It should be noted that compared to the EU average, the representation of women among financial decision-makers is lower, especially among the wealthier segments: -2% in the mass market segment, -4% among affluent individuals, and -6% among private individuals.
FINER’s periodic research shows that women differ from men in their greater propensity to delegate to their financial advisor (+18%).
When faced with market volatility, women are more clear-headed and able to remain calm and avoid panicking compared to men (66% vs. 54%).
At the same time, women appear less inclined to take risks than men (29% vs. 51%).
When it comes to trusting financial information sources, women trust their financial advisor (+21%) and their circle of relatives and friends (+15%) more than men.
Women are also less apprehensive and in need of weekly or monthly opportunities to discuss matters with their investment advisor (19% vs. 45% of men).
In terms of behavioral finance, it’s also interesting to note that women are, on average, less affected than men by certain biases: attribution error, or the tendency to take credit for successful decisions and blame others for unsuccessful ones (15%); aversion to losses greater than satisfaction with gains (12%), and overconfidence (10%).
All of this data leads us to two conclusions. The first is that high-quality financial advice, by focusing on the individual, will increasingly benefit from segmenting clients and their life plans, starting from certain behavioral and attitudinal variables, but also simply by gender.
The second consideration is that in the client-professional dialogue, elective affinities between people will increasingly matter, and therefore it is essential to come to the realization that men and women are two distinct parts of the same universe.
Considering both sides of the universe will increasingly guarantee success for banks and financial advisor networks.
Nicola Ronchetti