IFAs and financial analysts believe that women still lack financial experience and confidence despite the increasing numbers investing in Peps and tessas and taking out mortgages.
A research report by Mintel revealed that 76 per cent of women preferred to opt for minimum risks for their savings.
Holden Meehan partner Amanda Davidson says: "Women have been traditionally disenfranchised from financial affairs so they lack resources and experience. They are therefore cautious when it comes to investing their money."
The research also found that more than 45 per cent of women do not believe that financial service providers take them seriously.
Mintel finance analyst Lance Close says: "This is perhaps because some women lack confidence when they talk to financial advisers. Saying 'I think I want a Pep' is not the same as saying 'I want a Pep'. Women will become more confident when they become more experienced."