A recent study by Equirus Wealth, titled “Shakti & Capital: Next-Generation Women and the Future of Indian Family Wealth,” has shed light on a significant disparity within family wealth management. While women are increasingly present at the family office table, their participation in discussions does not consistently translate into direct control over investment decisions.
The Gap Between Discussion and Decision
The study’s findings indicate that a remarkable 100% of women respondents are involved in family wealth discussions. However, only 40% are directly engaged in capital allocation or the origination of investments. This suggests that while women are informed and consulted, they often lack the ultimate authority to determine investment strategy.
Further insights reveal that 70% of women have the final say over their personal portfolios, yet 90% admit they are still in the process of learning wealth management. Notably, none of the respondents reported receiving structured training for their financial responsibilities.
Visibility and Spousal Influence
- Financial Visibility: 60% of respondents reported full visibility of family wealth, 30% had partial visibility, and 10% relied on delegated access to information.
- Spousal Decisions: Among women who share wealth decisions with a spouse, approximately two-thirds indicated that their husbands initiate major investment decisions, particularly for large-ticket items and private-market opportunities.
This pattern suggests that many women are engaged in reviewing portfolios and discussing financial priorities but may not be initiating or controlling the deployment of capital.
Implications for Wealth Succession
The disparity between participation and authority carries significant implications for wealth succession planning. Four out of ten respondents assumed wealth management responsibilities following major life events such as bereavement, separation, capital loss, or inheritance. Another 30% were introduced to wealth management by family members, while the remaining 30% began their investment journey through personal earnings or employer shares.
When financial responsibility arises unexpectedly, a lack of experience or incomplete information can complicate decision-making. The study also found that 50% of respondents considered their successors either unprepared or disengaged, with only 30% actively preparing the next generation for these roles.
Bridging the Authority Gap
The Equirus Wealth study advocates for several measures to empower women and ensure meaningful inclusion in family wealth management:
- Clearer Decision-Making Rights: Establishing explicit roles and responsibilities for investment authority.
- Greater Asset Visibility: Ensuring full access and understanding of family assets and liabilities.
- Practical Investment Experience: Providing opportunities for hands-on involvement in investment decisions.
- Defined Allocation Mandates: Setting clear guidelines for how capital should be deployed.
Families are also encouraged to involve the next generation in supervised investment decisions, conduct regular portfolio reviews, and facilitate structured discussions on critical topics like risk, diversification, liquidity, and due diligence.
Currently, formal governance structures remain limited among respondents, with only 10% reporting a formal family vehicle like a trust, and none having an investment committee or scheduled portfolio review. As wealth transitions across generations, the challenge extends beyond merely transferring assets; it involves transferring the essential knowledge and authority required to manage them effectively. For women increasingly taking on financial responsibilities, true inclusion must encompass not just a seat at the table, but also the power to shape the decisions that preserve and grow family wealth.