On International Women’s Day, Private Banker International looks into the trends of wealth among women. Short of acknowledging there is a rise in the number of female HNWIs, what do money managers need to know about the shift of wealth to women?

Here, PBI identifies seven facts:

In the UK, females prefer face-to-face financial advice

Face-to-face financial advice is favoured by 49% of high earning females according to a report by EY, which surveyed 250 investors with over £100,000. By comparison, 28% of men prefer face-to-face financial advice over online or other forms of passive advice.

But in the US, robo-advisors win

Just over half – 53% – of females use robo-advisors or online wealth managers in the US. The results are from a survey of 1,000 American adults and 391 fintech firms surveyed by brokerage firm Charles Schwab.

Nearly all are regular charity donors

Women are more likely to donate than men in the US: 93% of high net worth women – those with over $1m – regularly donated to charity, compared to 87% of men. The results come from the 2018 U.S Trust study of High Net Worth Philanthropy which examined the giving and volunteering practices of wealthy households in the US. Women were more likely to volunteer than men, with 52% of women versus 41% of men saying they volunteered regularly.

Self-made women are succeeding

According to the Global Wealth Report by Credit Suisse Research Institute, 40% of global wealth is held by women. The report notes, “there are signs that more self-made women are succeeding in business and entering the highest wealth ranks.”

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And more so in China than elsewhere…

Of all Chinese billionaires, 15% are female. The figure – from the Hurun Global Rich List – is unchanged from last year, but according to its chairman and chief researcher, Rupert Hoogewerf, “Chinese women completely dominate when it comes to the world’s most successful women in business.”

…Especially Eastern Europe

According to PwC and UBS in their annual billionaires report, Eastern Europe is the most unequal billionaire gender divide in the world. Just 4% of billionaires from Eastern Europe are female, says their Billionaire Insights 2018 report. The most equal region is Oceania, which has 10 female billionaires accounting for 23% of the total.

Family offices need to improve gender equality

Just 9% of family office CEOs are women says UBS and Campden Wealth Research in their Global Family Office Report. However, the average CEO salary rose 11% this year to an average of $333,000 globally and $469,000 in Europe.