More women vulnerable and lacking confidence in financial services

FCA’s latest survey outlines disparities between sexes and ethnic groups

Sahar Nazir
clock • 1 min read

More than half (52%) of women are likely to exhibit characteristics of vulnerability compared to 42% men, according to the Financial Conduct Authority’s (FCA) Financial Lives survey.

The survey was conducted between May 2022 and January 2023 and highlighted disparities between genders and ethnic groups in the financial services sector. More women (21%) expressed a lack of confidence in their ability to find suitable financial products and services compared to men (12%). Over a quarter (28%) of women had low financial resilience, while only 21% of men exhibited the same characteristic. The FCA's research also found that women on average, had £34,000 worth of investible assets, compared with men who had £52,000 assets. Ethnic disparities Furthermore, the su...

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