As women age, they become more confident about their financial knowledge and, thus, are more likely to seek advice, says BlackRock Canada’s annual Global Investor Pulse Survey.

The survey finds 59% of women aged 65 to 74-years-old seek advice. As well, 67% of women in that age group say they’re more assertive when it comes to making financial decisions, compared to only 26% of women aged 25 to 34-years-old.

Read: 4 misconceptions about female clients, and what to do about them

The survey also revealed the following trends.

  • Most Canadian women (78%) identify as savers rather than investors (22%), and 49% of respondents agreed that they prefer to have “a certain amount of cash saved before [they’re] willing to invest.” Read: More women than men becoming billionaires: report
  • Many female investors (46%) turn to banks for information about long-term savings plans and investments. Meanwhile, younger women (those aged 25 to 34-years-old) are using online sources more frequently.
  • A common barrier to confidence continues to be a lack of education or knowledge, with 63% of women saying they aren’t knowledgeable enough about investments. Read: Answers from forty(ish)-year-old female clients
  • Only 44% of women, on average, say they’re confident about making financial decisions, with only 18% taking an active role early on in understanding their retirement plans.

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