How AI is changing what women want from wealth advice

Receiving an inheritance is often portrayed as a moment of financial empowerment. New research suggests that women inheritors are not less engaged or confident than men when it comes to investing their new wealth. But many are increasingly supplementing traditional advice with AI and digital tools to build their knowledge, clarify priorities and navigate complex financial decisions.

Women inheritors are faced with an advice gap, not a confidence gap

In a recent survey of high-net-worth individuals conducted by Capital Group, around nine in 10 women had consulted a professional financial adviser after inheriting wealth. But 73 per cent also used digital platforms or robo-advisers, compared with 62 per cent of men. And 69 per cent of women used AI applications to generate ideas and test options, compared with 56 per cent of men. 

Rather than replacing professional advice, these tools may be preparing women more extensively for that conversation. “Clients are not coming to us because they lack information, but because they have too much of it,” says Wenxian Yeo, Head of Wealth for Asia South and CEO of Citibank Singapore. “The role of the adviser has fundamentally shifted from an information provider to a strategic partner, sounding board and validator.”

There are also differences in the challenges women encounter. Women were more likely than men to complain about having too many options or receiving conflicting advice. Women were also more likely to seek support across areas including investment strategy, complex assets and emotional readiness.

Emma Wheeler, Head of Women’s Wealth at UBS Global Wealth Management, says women tend to want to understand the reasoning behind financial recommendations. “Women want to be better informed,” she says. “They make very fact-based decisions and want conversations that consider their circumstances.”

Women want more than technical expertise

Women want more than technical investment strategies. They were more confident to act on the advice they received if it was clear, easily accessed and aligned with their values and priorities.

Yeo says effective advice should go beyond a client’s balance sheet to take account of their “family dynamics, life goals, communication preferences and emotional state,” adding that “such a relationship is built on deep trust accumulated over time”.

This becomes particularly important after bereavement when financial decisions are often made under increased emotional pressure. In the survey, 44 per cent of widows said they became more cautious in their investment approach following bereavement, while only 36 per cent said they took a more active role in managing their finances.

Lavanya Chari, Head of Wealth and Premier Solutions at HSBC, says advisers need to recognise this. “During those emotional periods, the client should feel understood and supported as a person, rather than processed as a portfolio,” she says.

AI is raising the bar for advice

Women appear to be using AI as a knowledge-building tool. Almost half also use planning software to model scenarios. Among women who inherited less than $500,000, use of AI to generate ideas and test options rises to 87 per cent.

“AI can be extremely effective at gathering information, analysing scenarios and generating ideas,” says Sumeet Bhambri, Global Head of Advisory and Managed Investments, Wealth Solutions Management, Standard Chartered. Chari believes is pushing conversations “beyond basic financial education” towards a more focused discussion about suitability, trade-offs and turning ideas into confident decisions.

Wheeler says the use of technology has made women more willing to question recommendations. “A lot of women have not had the confidence to ask the right questions in the past,” she says. “I think it’s going to lead to a much healthier dialogue.”

The growing use of AI among women inheritors points to a broader change in expectations. For advisers, the opportunity is to combine human judgment and a deeper understanding of clients’ goals and circumstances. “Technology helps clients prepare better. Human advisers help them decide better and stay the course,” says Chari.