Divorce also left some HNW women with a different appetite for risk
Over two thirds (67%) of high-net-worth (HNW) women have seen their net worth increase when divorcing their partners, according to a new report.
Almost one in five (16%) of divorced HNW women had seen their divorce contribute a significant amount to their net worth, according to research from wealth manager Charles Stanley.
A quarter (27%) of HNW divorcees said their divorce contributed at least a moderate amount to their wealth, while 23% said their divorce contributed a small amount to their net worth.
A third of HNW women (33%) were either awarded everything, or the majority of assets, in their divorce settlements.
The main home (44%), households furnishings, art and heirlooms (37%) and savings (31%) were the items that HNW women were most interested in securing in divorce.
Just 20% were interested in splitting pension assets.
Despite the majority of HNW women seeing their assets increase during divorce, many said that having sole responsibility for their wealth left them with feelings of anxiety about how they would cope with their new financial situation (18%).
Divorce also prompted a change in action, with 21% of divorced women saying they changed the way they approached their finances, getting more actively involved, while only 18% consulted with a financial adviser to understand their financial situation.
Divorce also left some HNW women with a different appetite for risk (13%).
Mia Kahrimanovic, Financial Planner at Charles Stanley, said: “Divorce can be a difficult and lonely experience to go through, both emotionally and financially. While this research shows that women are stepping away from divorce with positive contributions to their net worth, it does illustrate how many are also financially vulnerable.
"Inheriting any sum of money, whether from a divorce or bereavement, can provide a valuable opportunity for individuals to take more control of their lives, and for women, help them in feeling financially empowered.”
• Censuswide surveyed 751 women with over £100,000 in personal annual income or over £100,000 in investable assets on behalf of Charles Stanley in August.
Promote your vacancy to thousands of professionals on Financial Planning Jobs
Our specialist jobs service Financial Planning Jobs can help you reach nearly 12,000 financial professionals. You can set up an Employer Profile and post your job the same day on Financial Planning Jobs (terms apply). Dozens of Financial Planning and Paraplanning firms have used our affordable service to recruit new talent.