Online investment platform AJ Bell have announced their new “Money Matters” campaign, with the primary aim of reducing the gender investment gap. One of the ways they wish to do this is to “help more women have open conversations about money and investing”.
AJ Bell report that, currently, men have more than double the level of savings and investments when compared to women. When combining cash savings, pensions, investments, and other assets (excluding their property), women have an average total of £49,000 put away.
Men, however, have an average of £114,000 put away, which amounts to a gender investment gap of around £1.65 trillion.
To help tackle this gap, AJ Bell are looking to provide a range of educational content for women surrounding investing, including a newsletter, podcast, online webinars, and articles on the Youinvest website.
AJ Bell say they’re passionate about getting everyone involved with investing
The user figures of several online investment platforms are heavily skewed towards men. For example, as of 2020, AJ Bell competitor Hargreaves Lansdown claim to have a female user share of 37%.
AJ Bell say that they want to see these figures reach a more even split. AJ Bell CEO, Andy Bell, commented: “About a third of new customers joining our investment platform at the moment are women and we’d like to see that get much closer to the 50:50 split across the adult population.”
Heading the Money Matters campaign is Helena Morrissey, chair-elect of AJ Bell and founder of the 30% club, which aims to increase gender diversity among senior management teams.
Lady Morrissey discussed the aims of the campaign and the effects she hopes it will have on potential women investors. She said: “Through AJ Bell Money Matters, we want to give women free access to information, stories and conversations that we hope will inspire them and give them more confidence when it comes to money and investing.”