According to the latest Info-Currents report Investment Conversations, based on the Large Purchase Study, there are stark differences in the way men and women make investment choices. Women rely on face-to-face conversations, while men are more likely to act based on their past experiences. Considering the combined effect of online and offline word of mouth, nearly six in 10 (56 percent) of women say they make investment product and service choices based on word of mouth, while only 32 percent of men do so.
The study validates financial institutions' programs geared towards female customers. It also suggests that companies prepared to answer women's questions and assist with their review process to inform those peer-to-peer conversations will have a competitive advantage.
To download a full copy of the Investment Conversations report, please click here.