The Best Worldwide Financial Advisers

Women clearly do not have the same behavior as men in the financial field. This is not a prejudice, but rather a proven reality. Women (of course not all) tend to be risk-averse and this has an impact on their retirement. A recent study by the prestigious Cass Business School has once again proved this difference between men and women when it comes to taking financial risks. In this study, academics analyzed the individual attitudes of many groups of people to risk and financial loss. At the microphone of RTL Christine Lagarde, former president of the IMF and now at the head of the ECB, marked the spirit by declaring "If we had Lehman sisters and not only Lehman Brothers, we would probably have carried a little better." However, it would also be possible to say that these Lehman sisters would have had much smaller profits in all the years preceding the bankruptcy of the financial group. Ms. Lagarde wanted above all to highlight the need to have more women in positions of responsibility in the world of finance. She emphasized the lack of risk-taking that seems to be more important for women than for men. In a way, the researchers from the Cass Business School and the University of Bristol abound in the direction of Ms. Lagarde. The study of the Cass Business School led to the following conclusions: • Women tend to have greater risk aversion than men, which confirms the findings of existing research. • Young and older people tend to be more risk-averse than middle-aged people. Young people are particularly reluctant to face financial loss. • Stress plays an important role in financial decision-making. • Risk aversion and loss aversion are even lower as the level of understanding of a person's finances is high. • Upper-class members are less risk-averse and more willing to take risks than lower-class members.