The rise of high-net-worth women

High-net-worth women (HNWW) are on the rise, and the future they expect is giving new shape to wealth management services. From increased diversity in the professional workforce to highly personalised services that deliver redefined wealth outcomes, HNWW are having a significant impact.

Factors driving the rate of growth

According to international research¹, not only did the number of female millionaires grow at close to twice the rate of male millionaires in 2023, but women are set to inherit the majority (over 65%) of a major intergenerational wealth transfer. ‘The great wealth transfer’, as it has become known around the world, is playing a key part, with the baby boomer generation leaving significant wealth to their heirs. But there are many other factors contributing to the rise of HNWW, from increased life expectancy to changing cultural attitudes. Growing numbers of female entrepreneurs and women in C-suite positions are significant global trends we see reflected here in New Zealand. In fact, with more than 40% of all available chief executive roles in New Zealand occupied by women in 2024, research indicates we are leading most other nations².

What women prioritise when it comes to investing

While all our customers are different, we’ve noticed some common themes have emerged. Firstly, HNWW are confident, risk-aware investors. They also have an increased interest in social responsibility and impact investing, with financial investments that focus on legacy building for future generations. Women tend to be highly engaged with financial advisers one-on-one and want strong, connected relationships they can trust to help inform their choices.

How the financial community is rising to meet the needs of HNWW

In our experience, HNWW want to see themselves reflected in wealth management professionals. Not only do they often want to work with women, they also seek out cultural and values-based connections. Diversity and inclusion are therefore a crucial part of workforce development in wealth management. At BNZ Private Bank, this has been a focus for us. Our team speak 12 different languages and in 2024 we reached new heights of female representation – with 60% female employees and a 100% female leadership team. We were recently acknowledged for our work with three prestigious awards; Best Private Bank in Australasia for Diversity & Inclusion (PWM & The Banker Global Private Banking Awards 2024), Best Private Bank in New Zealand and world’s Best Bank for Women Clients (Global Finance 2025 World’s Best Private Bank Awards). For all our customers, these awards affirm our dedication to the delivery of an outstanding client experience.

For HNWW the client experience is particularly important, because wealth often means so much more than money – it’s about living a life that holds value. They want highly personalised guidance from professionals who are connected to their unique outlook and goals, helping them reach beyond individual success to attain the holistic value they seek.

For more information on services and support for HNWW, I warmly invite you to connect with me or any member of the BNZ Private Bank team.

^{1 JBWere The Growth of Women and Wealth, March 2024
2 https://anz.peoplemattersglobal.com/news/leadership/more-women-leading-as-ceos-in-new-zealand-40768}

Any views expressed in this article are the personal views of Jenna Broadhurst and do not necessarily represent the views of BNZ, or its related entities. This article is solely for information purposes and is not intended to be financial advice. If you need help, please contact BNZ or your financial adviser. Neither BNZ nor any person involved in this article accepts any liability for any direct or indirect loss or damage arising out of the use of, or reliance on, all or any part of the content.