By Allie Hills, Client Relationship Director, Guernsey
Female wealth is rising fast, and women’s control of assets across the U.S. and EU will only continue to accelerate. For ultra-high-net-worth (UHNW) women, the traditional model of wealth management doesn’t work. Many report low satisfaction with their advisers, not because of returns, but because of how well (or poorly) they’re listened to. To meet this moment, fiduciaries must close the service gap with a relational model that blends technical excellence with empathy, inclusion and education.
The rise of female-controlled wealth
The landscape of global wealth is shifting. According to Knight Frank, there’s been a 38% rise in female UHNW individuals over the past decade – a trend that’s expected to continue. More specifically, the share of investable assets controlled by women is also growing meaningfully across mature markets. McKinsey projects that women will control 47% of EU assets by 2030, with similar growth dynamics playing out in the United States.
So what does this mean for the provision of fiduciary services? The answer goes much deeper than who signs financial documents, towards a need for greater focus on values alignment, greater multi-generational engagement, and greater emphasis on what capital is for (such as education, philanthropy or generational stability) on top of its performance.
What UHNW women want (and, too often, don’t get)
Even as women’s participation in global wealth rises, research shows gaps in satisfaction and communication between women and their fiduciary advisers or families. In a recent report, UBS found persistent communication shortfalls around major wealth transfers, with many women inheriting assets without prior family conversations or advisory.
At the same time, some myths deserve to be retired. Women aren’t uniformly risk-averse, as many in the industry have long believed. Rather, many are risk-aware on different time horizons and anchor their financial decisions to real-life goals. That focus calls for financial planning that narrates trade-offs over time, so wealth management is more complex than more model output.
The shift: From transactional advisory to relational stewardship
Female-led UHNW households choose fiduciaries who do five things consistently:
1. Lead with a family purpose conversation
Fiduciaries should facilitate a conversation around “why this wealth exists” before talking about “how it’s structured,” then translate that purpose into portfolio policy, governance charters and charitable giving strategies. Critically, they should also document these decisions for heirs.
2. Build an inclusive decision-making environment
Design meeting formats where every principal is seen and heard, regardless of gender or generation. Rotate who speaks first, circulate materials early and schedule “jargon-free” sessions to ensure understanding.
3. Educate across generations
Offer tailored learning for spouses and rising leaders within UHNW families. While women’s investing participation and confidence are rising rapidly, it’s important to fuel that momentum with practical education wherever it’s needed, from capital markets basics to fiduciary roles.
4. Blend emotional intelligence with technical depth
Pair fiduciary and financial expertise with empathy and emotional intelligence. The right structure serves the people it’s built for, not simply a set of desired outcomes.
5. Make multi-issue teams the default
UHNW women often seek collaborative, cross-disciplinary teams with investment, fiduciary, tax planning, philanthropy and next-gen development at one table. Decisions should reflect both financial and family realities.
Where firms are falling short for women
Over the years, we’ve heard overwhelming feedback from our female clients on where previous advisers have fallen short. Here are the themes we see cropping up consistently:
1. Failing to engage with the whole family
If an adviser only speaks to one person, they’re not meeting their mandate. Meeting cadences should be designed so spouses and next-gen principals have their own prep and debrief touchpoints. Fiduciaries should monitor stakeholder engagement (how many family stakeholders they see per quarter) and treat it as a KPI.
2. Putting product before purpose
The first deliverable should be a family purpose memo and decision map, not a portfolio. Every decision should refer back to those statements, which facilitates easier decision-making.
3. Treating education as an afterthought
To improve, advisers should publish a bespoke learning plan per household and budget time for it. Women’s ownership of investments jumped 18% year-over-year in 2024, so fiduciaries should meet this demand with structured learning and action plans where communication gaps exist.
4. Underestimating the communication risk
Best practice is a “no surprises” policy, so heirs know where, why and how assets are held (and the roles those assets play) before the transfer takes place. Too often, those conversations are never held, leading women to feel generally unprepared for the Great Wealth Transfer.
Is your current fiduciary hitting the mark?
If the answer to any of these questions is “not yet,” there’s room for improvement.
- Have they helped your family define a clear purpose for your wealth?
- Are all principles (both spouses and next-gen) actively engaged in conversations?
- Does the technical structure reflect your family’s culture, values, and jurisdictional needs?
- Do all family members have the education they need to step into any future roles? If not, how can the fiduciary provide it?
- Are philanthropy and impact priorities baked into the financial plan, and not merely bolted on?
Women are shaping the next generation of wealth
UHNW women are not a segment to “market at.” They’re active and engaged financial leaders to partner with. Women need relational stewards who combine empathy, inclusion and education alongside sophisticated financial ability.
For a fiduciary partner who blends technical expertise with human connection, contact our Private Wealth team today to start the conversation.
