CAROL BROWN, HEAD OF ASSET MANAGEMENT GROUP AT PNC

According to the U.S. Census Bureau, the Baby Boomer generation will have reached the traditional retirement age of 65 by 2030. At this point, the drastic shifts of those coming into and managing wealth, which industry experts refer to as the “Great Wealth Transfer,” will be rapidly ascending toward its peak. Who benefits the most? Millennials, of course, but also women.

Research by McKinsey found that in the United States more than two-thirds of wealth will be held by women by 2030. This reality brings some urgency to addressing the unique challenges women face when it comes to investing and managing wealth.

“Women’s financial goals aren’t all that different from men’s; whether they are focused on funding a retirement, paying for a child’s education or caring for loved ones, their goals are fairly universal,” said Carole Brown, Head of Asset Management Group at PNC.

“It is the way in which women approach these goals and talk about them that can vary significantly.”

Recognizing these important differences in approaches often inform how women approach savings and investment strategies, engage in financial decision-making and play a role in how they view wealth, PNC Private BankSM applies a gender-specific lens to wealth planning and investing. This approach takes into consideration barriers that might prevent women from optimizing opportunities to build and preserve wealth.

“When PNC published a Millennials and Investing survey a few years ago, a finding I found striking was that female Millennials were more inclined to build wealth through saving than investing, while male Millennials were more comfortable with taking financial risks,” said Brown. “To help address these types of gaps, my team and I work with female clients to encourage them to talk about their goals, ask questions and gain confidence in their financial decisions.”

Women and Millennials have also begun to express a heightened interest in responsible investing in recent years. This goals-based investment approach aligns an investor’s portfolio with their personal values. As such, responsible investing excludes portfolio exposures that may conflict with the investor’s values and allocates targeted capital toward their objectives. The economic and social effects of COVID-19, the racial justice movement and climate change have accelerated the interest and implementation of responsible investing.

“The rise in responsible investing strategies may also propel women’s economic empowerment,” said Brown. “While women have made notable gains in terms of wealth and financial equality, there is still an economic gender gap that many women and men are passionate about closing.”

Individuals and institutions specifically looking to use their investment capital to positively affect the lives of women and girls can take a similar approach that deliberately incorporates gender factors into investment analysis and decisions. We call this gender lens investing.

Gender lens investing takes many forms, including investing in companies, funds and other investment vehicles that consider gender in some way. Investors have demonstrated particular interest in accounting for women in leadership positions, actively engaging to enhance the policies and practices of the companies they own and evaluating the impact of a company’s products on the lives of their female customers.

“Every day I am inspired by our many clients who make conscious decisions to align their portfolios to their values and consider investment options that help to close the economic gender gap,” said Brown.

What is PNC doing to close the economic gender gap? Through Project 257℠: Accelerating Women’s Financial Equality, PNC is committed to making a positive difference by leveraging the power of its resources to accelerate women’s financial equality.

For more information, visit PNC.com/privatebank℠.

These materials are furnished for the use of PNC and its clients and do not constitute the provision of investment, legal, or tax advice to any person. They are not prepared with respect to the specific investment objectives, financial situation, or particular needs of any person. Use of these materials is dependent upon the judgment and analysis applied by duly authorized investment personnel who consider a client’s individual account circumstances. Persons reading these materials should consult with their PNC account representative regarding the appropriateness of investing in any securities or adopting any investment strategies discussed or recommended herein and should understand that statements regarding future prospects may not be realized. The information contained herein was obtained from sources deemed reliable. Such information is not guaranteed as to its accuracy, timeliness, or completeness by PNC. The information contained and the opinions expressed herein are subject to change without notice. Past performance is no guarantee of future results. Neither the information presented nor any opinion expressed herein constitutes an offer to buy or sell, nor a recommendation to buy or sell, any security or financial instrument. Accounts managed by PNC and its affiliates may take positions from time to time in securities recommended and followed by PNC affiliates. Securities are not bank deposits, nor are they backed or guaranteed by PNC or any of its affiliates, and are not issued by, insured by, guaranteed by, or obligations of the FDIC or the Federal Reserve Board. Securities involve investment risks, including possible loss of principal. 

The PNC Financial Services Group, Inc. (“PNC”) uses the marketing names PNC Private Bank℠ and PNC Private Bank Hawthorn℠ to provide investment consulting and wealth management, fiduciary services, FDIC-insured banking products and services, and lending of funds to individual clients through PNC Bank, National Association (“PNC Bank”), which is a Member FDIC, and to provide specific fiduciary and agency services through PNC Delaware Trust Company or PNC Ohio Trust Company. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC Bank is not registered as a municipal advisor under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

“PNC Private Bank” and “PNC Private Bank Hawthorn,” are service marks of The PNC Financial Services Group, Inc.

Investments: Not FDIC Insured. No Bank Guarantee. May Lose Value.