Most men make their investment decisions independently, which is not the case with women. According to DSP Winvestor Pulse 2022 Survey, nearly 2 out 3 men take investment decisions independently but only 44% of women do so.

The report highlights investment behaviours among women and men and the differences in their attitudes and involvement while making investment decisions. Following are some interesting findings of the survey:

  • 40% of men and only 27% of women take independent investment decisions (without consulting a professional advisor).
  • More women consult their husbands. More men consult their fathers for investment decisions than their wives. The report found that 67% of women and 48% of men consult their respective spouses for investment decisions.
  • About 26% of men consult their fathers for investment decisions while only 10% of women do so.
  • When it comes to taking advice from mothers, only 6% of men consult their mothers for investment decisions while only 5% of women do so.
  • While most of the respondents (around 80%) didn’t give any gender preference for financial advisors, most, who did, prefer male advisors. Among men, 15% of respondents, who gave a gender preference, said they would prefer male financial advisors. Among women, 13% of respondents, who gave a gender preference, said they would prefer male financial advisors.
  • Interestingly, most women respondents in the survey said they were introduced to investing by their spouses while most men claimed to be self-taught. A large percentage of men also said they were introduced to investing by their fathers.
  • Surprisingly, around 70% of the respondents said they would advise their son and daughter differently about investing.
  • Around 45% of men and women said they have been investing in more post-Covid. While the pandemic induced monetary introspection, wanting higher returns than earlier, ease of investing via apps was cited by both men & women as the top reason to invest more post-Covid.

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Why do people invest?

When it comes to investment philosophy, the survey found that women value safety, stability, worry-free investing and discipline when investing while men are more involved in investment decisions and invest more in the stock market (via stocks/ mutual funds). While both men and women cited financial independence as the top reason for investing, more men gave chasing higher returns and saving for retirement as a notable reason for investment.

“A telling aspect of the survey for me was that women are introduced by, as well as guided on investments more by their husbands, not by their fathers. I would appeal to parents in general & fathers specifically so, to open conversations on money and investing with their daughters at an early age,” said Aditi Kothari Desai, Vice Chairperson, DSP Investment Managers Pvt Ltd.

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“This will lead the next generation to be smarter with their investing decisions. In addition, I believe that the right professional investment advice will make a big difference in enabling women to take control of their destinies. This is where our MFDs and advisor-partners will continue to play a key role going forward,” she added.

In association with You Gov, the DSP Winvestor Pulse 2022 report covered 4,625 women and men across 10 cities, including four metros – Mumbai, Delhi, Kolkata, Bangalore – and six mini-metros – Indore, Kochi, Patna, Chandigarh, Ludhiana and Amritsar). The study also captured responses from men and women who have been involved in investment decision-making from the age group 25 – 60.