On Wednesday 1st May, Church House is running an event for women to provide insight into the world of investments and more general wealth planning. The aim of the morning is to encourage the audience to engage with their finances and in some cases take more control of them. A recent survey by UBS showed that only 23% of women take charge of long term financial decisions such as investing, financial planning and insurance. 20% of women share the responsibility with their husbands and the remaining 62% defer entirely to their spouses. Few women realise the consequences of deferring control to their husbands until after a divorce or death of a spouse. Having met some of these women, they have all urged other women to stand up and take a more active role in the family finances before it is forced upon them when they are least prepared. It is a different story for women who share decisions with their partners about long term finances. They feel confident about their future and their money today, because they are better prepared for whatever might happen tomorrow.

The main reason for this deferral of responsibility seems to be lack of confidence. The same UBS survey showed that 73% of women questioned thought that a high level of knowledge was required in order to make good investment decisions, and only 48% believed they had that knowledge.

We want to use this opportunity to boost the confidence of those in attendance. Information is power. The more you know about your finances the more in control of them you’ll be. It is well documented that women who do participate in long term financial decisions with their spouses not only increase their chances of financial security, but they also feel more positive about their future.

Women should be trying to maximise their returns at least as much as their male counterparts for some very important reasons. There is a widely reported gender pay gap that exists in many industries which is the first hurdle when trying to save and provision for the future. This is then compounded if and when many women have a career break or switch to part time working when children come along. This in turn means that by the time women hit retirement, the chances are that their pensions and savings often fall well short of their male counterparts. Then consider the fact that women live longer - 68% of women will outlive their spouse.

The key is to start saving early and be wise in your investment choices. For those who don’t have the confidence to invest themselves, a good start is to find a wealth manager who can assist. Another barrier seems to be that people assume you need large lump sums to invest, when you can in fact save into an investment portfolio from as little as £50 per calendar month.

At Church House, we work with our clients throughout every stage of their and their family’s lives. We aim to be there as a trusted adviser throughout the ups and downs that life might bring, and are always happy to spend a bit of extra time to ensure that our clients are completely clear and comfortable with the plans that are put in place.

We hope this event will be provide an opportunity to connect like-minded people and encourage confidence for women to be involved in financial decisions. It is also an opportunity for us to offer advice beyond investing with the introduction of Erica Shelton and Jamie Kennaugh of Charles Russell Spechleys Family Team. Erica and Jamie will be talking about “planning for the future”, giving some vital tips on how to ensure the protection of a family’s financial position, as well as an individual’s wealth. We will also be joined by Kate Robinson of Robinson Pelham Jewellery, who will be talking about managing jewellery as an asset to be enjoyed, as well as displaying some beautiful pieces from their current collection. Our opening speaker will be Merryn Somerset-Webb, Editor-in-Chief of Money Week, FT columnist and recent Question Time panellist. Merryn will be talking all things investment and explain that it is not all as complicated as it may seem…..

If you would like to join us at this event, or would like to speak or meet to discuss any concerns or planning ideas you might have, we would be delighted to hear from you. Please do get in touch with Emma Parkes on 020 7123 4741 or e.parkes@church-house.co.uk.