UBS Own Your Worth: Women Are Acting on Their Convictions to Pursue Greater Purpose in Their Lives
May 12 2022 - 09:30AM
Business Wire
- Women are intentionally using their financial resources, time
and purchasing power in a way that aligns with their values
- Women see money as a tool to effect change and recognize the
importance of their participation in financial decisions as a path
to greater impact
- Millennial women are more committed than before to using
finances to fulfill their purpose
The impact of COVID-19, social activism and economic and
geopolitical uncertainty over the last two years have motivated
women to use their investments, purchasing power and career choices
to drive greater change, according to UBS’s latest Own Your Worth
report.
Of the 1,400 women surveyed, nine out of 10 believe money is a
tool that can be used to help achieve their purpose. Most women
(94%) donated financial resources or volunteered their time in the
last 12 months, nearly three quarters (73%) made purchases that
align with their values, and more than two-thirds (69%) chose a
career that aligns with their values.
“Women’s commitment to leading meaningful lives coupled with
their growing financial clout are the twin engines that can propel
them to make an even greater impact,” said Paula Polito, Vice
Chairwoman, Global Wealth Management at UBS. “More than 82 percent
of women say the events of the last two years made them reassess
what’s important, and that catalyst will drive more meaningful
change for causes they champion and for society overall.”
Women taking the lead on financial decisions are on the
rise
While the proportion of women who defer investment decisions to
their spouses remains stubbornly high (51%), there has been
progress in the number of women who lead on financial decisions
(26%, up from 21% in 2018). Women who take the lead have found a
variety of ways to make a positive impact on the world beyond
charitable giving.
Among women who lead, nearly two thirds (66%) hold ESG
investments and 54% invest in venture capital companies focused on
a specific issue they support, compared to only 40% and 31% of
women who are not leading financial decisions, respectively.
“As women seek to live more purposeful lives, we’re seeing them
look beyond investing to drive change,” said Carey Shuffman, Head
of the Women’s Segment at UBS Global Wealth Management. “We found
that 51% of married women defer financial decisions to their
spouses, yet nearly all women are engaged in charitable giving. If
more women could make their voices heard in financial planning
conversations, their values-based approach could make an even
greater positive impact on themselves, their loved ones and the
world.”
The report also shows that most women recognize the power of
financial engagement—92% believe involvement in long-term financial
planning can enable them to make greater impact in the world, and
eight in 10 women believe they can pursue a more meaningful life
without sacrificing their own financial well-being.
Millennial women are more committed than before to using
finances to fulfill their purpose
The pandemic prompted a higher proportion of millennial women to
use their money to fulfill their purpose and create positive change
(83%), compared to Gen X (62%) and Baby Boomers (38%). More than
half of Millennial women surveyed (52%) have ensured their
investments align with their values, compared to 24% of Boomer
women. As a result of the past two years, Millennial women are also
twice as likely to intentionally buy from companies that have a
positive environmental or social impact, and four in ten (41%) have
changed careers to find more meaningful work, compared to just one
in ten (11%) of Boomer women.
About the survey
For this publication, UBS surveyed 1,400 women investors across
the United States from January 24 – February 7, 2022. Those between
ages 25-30 had at least $250k in investable assets, those 31-39 had
at least $500k in investable assets and those 40 and older had at
least $1 million in investable assets. All data included in this
report are based on UBS proprietary research unless otherwise
noted.
To learn about previous reports in the series, visit:
https://www.ubs.com/women.
Notes to Editors
About UBS Global Wealth Management As the world's largest
wealth manager, UBS Global Wealth Management provides comprehensive
advice, solutions and services to wealthy families and individuals
around the world. Clients who work with UBS benefit from a fully
integrated set of wealth management capabilities and expertise,
including wealth planning, investment management, capital markets,
banking, lending and institutional and corporate financial
advice.
About UBS UBS provides financial advice and solutions to
wealthy, institutional and corporate clients worldwide, as well as
private clients in Switzerland. UBS's strategy is centered on our
leading global wealth management business and our premier universal
bank in Switzerland, enhanced by Asset Management and the
Investment Bank. The bank focuses on businesses that have a strong
competitive position in their targeted markets, are capital
efficient, and have an attractive long-term structural growth or
profitability outlook.
UBS is present in all major financial centers worldwide. It has
offices in more than 50 regions and locations, with about 30% of
its employees working in the Americas, 30% in Switzerland, 19% in
the rest of Europe, the Middle East and Africa and 21% in Asia
Pacific. UBS Group AG employs more than 72,000 people around the
world. Its shares are listed on the SIX Swiss Exchange and the New
York Stock Exchange (NYSE).
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Media Contact: Christina Aquilina
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