Over a third (35 per cent) of wealthy women do not invest due to a lack of confidence, compared to just 17 per cent of men, according to poll from Canaccord Genuity and YouGov.

Additionally, just under half (45 per cent) of female respondents claimed they were cautious investors and were more likely than men to be nervous when it comes to their financial future.

The study revealed that a larger proportion (49 per cent) of wealthy women had more confidence in property as an asset class that could contribute towards their financial future, while just 27 per cent and 15 per cent thought the same of their investment portfolios and pensions respectively.

In contrast, 38 per cent of high-net-worth men believed their investment portfolios would be the largest contributor towards their long-term wealth, followed by pensions (28 per cent) and property (27 per cent).

Commenting on the data, Canaccord Genuity Wealth Management head of UK front office Duncan Stratford said: “Time and again studies have shown that investing in the markets provides the best return of any asset class.

“And other studies have shown that in most cases, women would rather leave their money in cash or invest in property rather than the markets. Women have an inherent mistrust of investing, but they are missing out on an opportunity to secure their financial future if they don’t have a portfolio in place.”

Stratford concluded that these findings are a “clarion call” to the financial services industry that they need to understand the underlying reasons as to why women are choosing not to invest and “collectively work together to clarify the benefits of pensions and investments”.

Furthermore, research from fintech firm Yolt delivered similar findings earlier in the month, highlighting that under half of the UK’s adults – and just 36 per cent of women – claimed to feel comfortable when making financial investment decisions.

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