Canadian Investment Regulatory Organization’s Investor Advisory Panel publishes inaugural research on women investing less and valuing plain-language advice

The Canadian Investment Regulatory Organization’s (CIRO) Investor Advisory Panel (IAP) published its inaugural research report on women and investing, finding that women save and invest less than men and report lower investing confidence and higher risk aversion. The study, produced with Innovative Research Group, also highlights what women prioritize when working with financial advisors, including clear, jargon-free communication, respect, and alignment with life goals. Women were less likely to identify as investors (43% vs 56% of men) and less likely to save at least CAD 5,000 per year (41% vs 52%), with the largest saving and investing gaps among those earning under CAD 60,000 and no gap beyond CAD 100,000 of personal income. Confidence was lower among women (47% vs 66%), and women were more likely to say they did not know where to start (22% vs 12%), particularly among ages 18 to 34. Among those who invest, 61% of women reported lower risk tolerance (27% very low and 34% low) versus 45% of men (16% very low and 29% low). Among investors working with an advisor, returns and performance remained the top priority for both genders (60% of men and 54% of women), but women placed greater importance on advisors avoiding jargon (57% vs 40%), showing respect (56% vs 47%), and understanding life goals (52% vs 40%). While 79% of men and women reported no preference on an advisor’s gender, women were more likely than men to work with a female advisor (41% vs 21%), and the report notes differing experiences for some groups, including first-generation Canadian women and women who manage finances within a couple.