Women investors start to address the gender gap

Women are signing up to investment platforms at faster rates than men, as investors flock to trading to take advantage of market volatility and lower prices.

Investors have registered on platforms in record numbers since March and trading volumes have remained heightened since the market sell-off earlier this year. Women are under-represented on investment platforms, but as new and younger customers sign up, they are making up a larger chunk of that base.

EToro, a DIY trading platform, reported a 366 per cent rise in the number of new women investors since the beginning of the year, compared with a 248 per cent increase for men.

Nutmeg, a UK online wealth manager, said customer sign-ups are up nearly one-third in 2020. Women ordinarily make up 36 per cent of its investors, but this year the female share of new customers rose to 40 per cent.

Bux, a European investment platform, said female customers signing up to its share trading app BuxZero grew six-fold over the year to date, compared with fourfold growth for men.

Nannette Hechler-Fayd’herbe, global head of economics and research at Credit Suisse, noted in a recent report that women’s emphasis on financial security can lead them to hold excess cash and lower returns later in life. Though women own 40 per cent of the world’s wealth in real terms, they represent a far lower proportion of those engaged with the stock market or wealth managers.

Customers of retail investment platforms and wealth management firms are typically heavily skewed towards men — on eToro the approximate breakdown is 85 male to 15 per cent female. Some 70 per cent of Interactive Investor’s customers are men, and the customer base of Hargreaves Lansdown, the UK’s largest investment platform, is two-thirds male.

Female investors are unfairly stereotyped as more risk averse and uninformed than men, advisers say. In reality, their financial strategies tend to reflect their goals — and a desire to keep cash safe, prioritising long-term financial stability. Women may be more likely to hold cash than men but as interest rates on cash savings and yields on lower-risk investments such as bonds have declined, investment has become more attractive, with more women seeing it as imperative to keep up with inflation.

“To see more women investing is incredibly positive,” said Kat Mann, savings and investment specialist at Nutmeg. “At a time when savings accounts and interests rates offer incredibly poor value, holding more money than is needed in cash could be having a long-term damaging effect on finances.”

The lockdown period has reduced spending, increased savings and expanded the amount of time women have to think about financial planning.

“Women are interested in investing, they’re just short on time, especially mothers,” said Becky O’Connor, head of pensions and savings at Interactive Investor. “They’re time poor, so rarely does investing make the top of the priority list.”

Another catalyst has been the emergence of low-cost, user- friendly investment platforms challenging the older investment providers, which traditionally catered to a

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Ice Cube Responds to Questions About His Contract With Black America Failing to Address Black Women

Ice Cube has been in hot water with a lot of his fans ever since it was revealed that he had spoken with Trump’s reelection campaign regarding his Contract with Black America. Supposedly, Trump’s campaign retooled its $500 billion package, the Platinum Plan for Black America, after speaking with Cube. In a conversation on Fox Soul’s Cocktails with Queens, Cube was asked why his contract seemingly excludes Black women.

When asked why women “aren’t mentioned at all” in the contract, Cube replied at the 18:20 point of the interview, “You are mentioned. When you mention Black people you mentioning Black women, so don’t count yourself out.”

After the hosts of the show disagreed with what Cube said, he asked, “Black women are not included in Black people?” When he was told that Black women in America have needs that are also not being met by the government, he said he understands that, but he suggested someone could still write a section focusing on that.

“I’ve been open to all kinds of experts in putting this together, it wasn’t just me,” the 51-year-old added. “We’ve dealt with experts in all fields on this Contract with Black America, so we’re willing to deal with experts in the section when it comes women. So that’s no problem. I’ll help you write it.”

As for the Platinum Plan, Ice Cube reiterated that he’s not getting any money for speaking to Trump’s team. When asked what’s in the Platinum Plan for Black women, Cube simply said he’s “not part of the administration.”

Pressed by Claudia Jordan whether he actually believes Trump will execute his Platinum Plan, the $500 billion package that will supposedly help the Black community, Cube seemed to indicate he’s “not sure.” He continued, “All I know, is we gotta push our agenda no matter who’s in there.”

He said that “in a perfect world,” he would’ve had an opportunity to extensively talk with the Biden campaign. “I’m not a supporter of neither one of them.”

Watch the full interview above.

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Anita Hill to Deliver Keynote Address at Power Women Summit 2020

Lawyer, professor and equality champion Anita Hill will be the keynote speaker for WrapWomen’s 2020 Power Women Summit, the largest gathering of women in media and entertainment. With the theme “Inclusion 360,” the event will take place virtually December 8-10.

Hill is the chair of the Hollywood Commission on Eliminating Sexual Harassment and Advancing Equality.In this role, she establishes best practices and policies framework for addressing workplace abuse and discrimination by creating more equitable work environments throughout the industry.

Over the past month, the Hollywood Commission has released a series of reports from its landmark Hollywood Survey of more than 9,6000 entertainment industry workers. Its initial findings on accountability found that 65% of Hollywood workers did not believe that a powerful individual, such as a producer or director, would be held accountable for harassing someone with less power. In an immediate response to these results, the Commission announced it will launch a reporting platform and a bystander intervention training pilot program designed to provide resources for victims and accountability for offenders.

Also Read: Anita Hill’s Hollywood Commission to Launch Sexual Harassment Reporting Platform, Bystander Intervention Training

Hill, who served as the Power Women Summit keynote speaker in 2018, will return to the stage to discuss her progress, research and new programs.

In 1991, Hill made history when she accused U.S. Supreme Court nominee Clarence Thomas, her supervisor at the United States Department of Education and the Equal Employment Opportunity Commission, of sexual harassment. As a Black woman testifying in front of an all-white, all-male Senate Judiciary Committee, with Thomas denying his plausibility, the odds were not in Hill’s favor as Thomas was confirmed.

Despite this loss, Hill’s testimony forever changed the way we talk about sexual harassment in the workplace. One month after her testimony, Congress passed a law extending the rights of sexual-harassment victims. The year after, the Equal Employment Opportunity Commission received a 50% increase in sexual-harassment complaints from the prior year. Hill continued to focus her career on equality, becoming a professor of law, public policy and women’s studies at Brandeis University.

Also Read: Lawyers Anita Hill and Nina Shaw Want to Fix Hollywood’s ‘Culture of Silence’ That Still Exists Since #MeToo

About Power Women Summit:

The Power Women Summit, presented by the WrapWomen Foundation, is the largest annual gathering of the most influential women in entertainment, media and technology. The Summit aims to inspire and empower women across the landscape of their professional careers and personal lives. This year’s all-virtual PWS provides three days of education, mentorship, workshops and networking around the globe – to promote “Inclusion 360,” this year’s theme.

Sponsors include MGM, Starz, AMC Networks, Loeb & Loeb and Greenberg Glusker.

To register for a pass: wrapwomen.com/power-women-summit

For more information on WrapWomen and sponsorship, please contact [email protected]

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