The study also found that 70% of respondents have the final say over their portfolios, while 90% acknowledge that they are still learning to manage wealth. None of the respondents reported receiving structured training for their wealth-management responsibilities.
The distinction between participation and authority becomes clearer when access to financial information is considered. While 60% of respondents reported full visibility of family wealth, 30% had partial visibility and 10% relied on delegated access to information.
Among respondents who share wealth decisions with a spouse, approximately two-thirds said their husbands originate major investment decisions, particularly large-ticket investments and private-market opportunities.
This suggests that women may be involved in reviewing portfolios and discussing financial priorities without necessarily initiating investments or controlling how capital is allocated. However, the study is based on qualitative interviews with women investors and inheritors served by Equirus Family Office and is not statistically representative of the wider population.
Why investment authority matters
The gap has implications for how families prepare for wealth succession. Four in 10 respondents assumed responsibility for wealth decisions following a major life event, including bereavement, separation, capital loss or inheritance. Another 30% were introduced to wealth management by family members, while 30% began their investment journey through their own earnings or employer shares.
When responsibility arrives unexpectedly, limited experience or incomplete information can make financial decision-making more difficult. The study also found that 50% of respondents considered their successors not yet ready or not yet engaged, while only 30% deliberately prepared the next generation.
What families can do
The study calls for clearer decision-making rights, greater visibility of family assets and liabilities, practical investment experience and defined allocation mandates. These measures can help women move from participating in discussions to exercising meaningful investment authority.
Families can also involve the next generation in supervised investment decisions, establish regular portfolio reviews and introduce structured discussions on risk, diversification, liquidity and due diligence.
Formal governance remains limited among respondents: only 10% reported having a formal family vehicle, such as a trust, and none reported an investment committee or scheduled portfolio review.
As wealth passes between generations, the challenge is not simply to transfer assets but also to transfer the knowledge and authority required to manage them. For women taking on increasingly important financial responsibilities, meaningful inclusion must extend beyond the family office table to the decisions that determine where money goes and how wealth is preserved.