RBC Wealth Management Survey Finds Women's Economic Power Rising to New Heights

Executive Summary

• RBC Wealth Management’s new survey of 2,010 high‑net‑worth U.S. individuals shows millennial women are outpacing men in total and investable assets, driven by business ownership, executive roles, and diversified investments.
• Boomer women control a large share of the $124 trillion Great Wealth Transfer, with $40 trillion attributed to interspousal transfers, amplifying female spending power and philanthropic activity.
• Over 90% of surveyed women with financial advisors have a formal financial plan, reporting higher confidence in achieving their retirement and wealth‑transfer goals.

Key Details

• Survey sample: 1,505 women and 505 men, each with ≥ $1 million investable assets; generational breakdown – Millennials (463), Gen X (405), Boomers (511).
• Wealth drivers: 86–92% cite investments as primary source; Millennial women report business ownership (62%) and executive roles (43%) versus 20%/22% for Gen X and 10%/14% for Boomers.
• Asset gap: Millennial women hold higher total and investable assets than male counterparts in the same age cohort.
• Risk tolerance: No significant gender difference across generations in high‑risk investment participation.
• “Inner wealth” values: 81% prioritize body, spirit, soul; 80% emphasize ethics, trust & social order.
• Philanthropy: 35% of all women list charitable giving as a key financial goal; 52% of Millennials, 24% of Gen X, and 29% of Boomers.
• Wealth transfer intentions: 61% of Millennial women plan to give wealth to children during their lifetime; 50% of Boomer women intend to transfer most assets post‑mortem.
• Advisor relationship: 90% have a financial plan; > 90% report advisors personalize solutions and boost confidence in meeting goals.
• Digital expectations: Millennials favor digital‑first interactions and 24‑hour response times; Gen X and Boomers prefer regular, agenda‑driven check‑ins.

Notable Quotes

“We are seeing a transformative era where women are focused on growing their wealth but also redefining its purpose, integrating personal values with financial success,” – Angie O'Leary, Head of Wealth Strategies, RBC Wealth Management.