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Women prefer male advice

Gender counts when it comes to dealing with money, says a survey for Cornhill Life.

The poll, by RSGB, reveals that 65 per cent of women favour buying financial products from men, with just 16 per cent choosing female advisers.

But around 30 per cent of women aged 16-24 prefer women advisers compared with just 12 per cent of those aged 55 and over.

Cornhill Life marketing manager Gordon McAra says: "We thought that a majority of women would prefer to deal with women but that does not seem to be the case."

Only 14 per cent of women respondents leave financial decisions to husbands or partners and 40 per cent said they make decisions without any input from their partner.

Around 53 per cent felt that more financial information aimed at women should be provided while 29 per cent believe there is enough already.

General manager Ian Reed says: "In more households than ever, women are the sole wage-earner, which is partly a result of the rise in the divorce rate. But the level of female financial decision-making is higher than we expected."


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