Women are expected to inherit US$124 trillion through the intergenerational wealth transfer, but Capital Group has found they are twice as likely to rely on social media for advice over a financial adviser. 

A survey of 600 high-net-worth individuals across Australia, Europe, Asia-Pacific and the US, produced by US$3 trillion investment manager Capital Group, has revealed a key gap between men and women and how they utilise and manage their inheritance.

Women allocate 26.4 per cent of their inheritance to investment, 14.3 per cent to savings and spend 15.4 per cent of it. This compares to men who invest 36.2 per cent, save 11.1 per cent of their inheritance and spend 11.3 per cent.

But despite being expected to receive a greater share of the intergenerational wealth transfer, women are twice as likely to seek investment guidance from social media and ‘finfluencers’ over a professional adviser.