RBC Wealth Management Survey Finds Women's Economic Power Rising to New Heights
MWN-AI** Summary
A recent RBC Wealth Management survey highlights the growing economic power of high-net-worth women, revealing significant shifts in wealth dynamics across generations. Conducted with 2,010 participants (1,505 women and 505 men), the survey showcases how Millennial women are not only closing traditional gender gaps but are also outpacing men in wealth creation, driven by diverse sources like business ownership and executive roles.
The research points to a "Great Wealth Transfer," as Boomer women take control of approximately $124 trillion in wealth. This shift gives them unprecedented spending power and influence, with emphasis placed on legacy and philanthropy. Over 90% of women working with financial advisors reported having financial plans, which enhances their confidence in achieving financial goals.
Millennial women are particularly innovative, integrating their personal values with financial success to redefine wealth. This trend towards "inner wealth" suggests that for many, financial success is intertwined with well-being, ethical values, and a sense of social responsibility. With a growing focus on philanthropy, 61% of Millennial women plan to transfer wealth during their lifetimes, marking a significant shift from traditional models where wealth was bequeathed posthumously.
Additionally, the survey notes evolving expectations in financial advisor relationships. While advisors remain a key source of empowerment, differing generational needs necessitate tailored approaches. Millennial women, for example, prefer digital-first interactions, contrasting with older generations who value personalized check-ins.
Overall, the RBC survey illustrates that women are not merely accumulating wealth; they are redefining its purpose, thereby establishing a transformative economic landscape that balances personal values, financial growth, and philanthropic commitments.
MWN-AI** Analysis
The recently published RBC Wealth Management survey highlights an empowering trend: high-net-worth women, particularly Millennials, are not only closing traditional gender wealth gaps but are also emerging as key economic players. As financial analysts, we must acknowledge the implications of this shift for investment strategies and market positioning.
Millennial women are significantly outpacing their male counterparts in wealth generation, driven by diverse income sources including executive roles, business ventures, and real estate investments. This demographic’s approach to wealth is holistic, intertwining financial objectives with personal values, ethics, and philanthropic goals. The focus on "inner wealth" highlights their intention to create a meaningful legacy rather than merely accumulating assets.
From a financial advisory perspective, the data indicates that more than 90% of women working with advisors feel secure about financial outcomes, suggesting that tailored advice is increasingly critical for this client segment. Wealth management firms should adapt their services to cater to these evolving needs, moving beyond traditional financial planning to include values-based investment strategies, personalized communication, and digital engagement.
Moreover, with the expected $124 trillion Great Wealth Transfer, female financial decision-makers will likely prioritize social responsibility and sustainable investing, which presents a valuable opportunity for asset managers. Companies and investment vehicles that align with these values can benefit from this growing generation of affluent women.
In conclusion, as the importance of women’s wealth management continues to rise, it is prudent for financial advisors and firms to position themselves as allies in this journey. Emphasizing the integration of personal values with financial goals could attract and retain a clientele that is increasingly influential in shaping the investment landscape. Adopting a forward-thinking, client-centric approach will ensure that financial institutions not only meet but capitalize on the transformation underway in women’s wealth dynamics.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Canada NewsWire
New data show high-net-worth women are emerging as powerful changemakers, with Millennial women leading in wealth creation, closing traditional gender gaps and setting benchmarks for future generations.
KEY HIGHLIGHTS
- Millennial women's wealth is outpacing men, signaling a new era of financial dominance among younger wealthy clients, driven by wealth source diversification, executive roles, real estate and business ownership.
- Boomer women are assuming control of a vast majority of wealth through the $124 trillion of Great Wealth Transfer, creating unprecedented female spending power and economic influence, from philanthropy and investment choices to intergenerational wealth transfer. *
- Confidence boost: Over 90% of women working with an advisor have a financial plan and say that partnership helps them feel confident they'll achieve their financial goals.
MINNEAPOLIS, March 3, 2026 /CNW/ - A new survey from RBC Wealth Management finds that high-net-worth women are rising to new financial heights and closing traditional gender wealth gaps. The research underscores a new era where women are wielding unprecedented economic power and redefining wealth dynamics, distinguished by a holistic approach to wealth that prioritizes family security and philanthropy alongside portfolio growth.
To better understand the financial journeys of women across three generations, RBC Wealth Management surveyed 2,010 high-net-worth (HNW) individuals in the U.S. (1,505 women and 505 men), all with investable assets of at least $1 million.
"We are seeing a transformative era where women are focused on growing their wealth but also redefining its purpose, integrating personal values with financial success," said Angie O'Leary, Head of Wealth Strategies at RBC Wealth Management. "This change recognizes that the growth of women's wealth is not just a statistic but a testament to resilience, innovation and their capacity to carve out a legacy infused with purpose."
The survey shows notable differences in how generations of women approach their finances. Millennial women have a dynamic approach to risk-taking and technology-driven financial planning, Gen X Women are leading with resilience by balancing competing pressures and priorities and Boomer women are focusing on legacy and stability as they step into a historic role managing wealth---including $40 trillion through interspousal wealth transfer alone.*
Growing financial empowerment of women
The survey finds women redefining the traditional paths to wealth creation with Millennial women leading the charge, leveraging executive roles, real estate ventures, and diverse investment strategies to build substantial portfolios.
- Drivers of wealth: While investments remain the primary source of wealth for all generations (86-92%), Millennial women are far more likely to cite business ownership and innovation (62%) and executive roles (43%) as key drivers of wealth, compared to just 20% and 22% respectively for Gen X women and 10% and 14% for Boomer women.
- Closing the gap: Millennial women surveyed outpaced men in higher total and investable assets, signaling a new era of financial dominance among younger wealthy clients.
- Risk-taking parity: The survey found no significant difference between women and men across generations in engaging with higher-risk investments, contrary to traditional views suggesting higher risk tolerance among men.
- Transformative female economy: Women's growing economic power is set to transform the investment landscape and create a new female-focused economy driven by their spending on passions like adventure and luxury travel, cars, real estate, art, theater, gardening and jewelry.
Focus on "inner wealth" integrates personal values, priorities, passions
For women, the definition of wealth has expanded beyond the balance sheet. The survey identifies a trend toward "inner wealth," the integration of personal values, priorities, and passions.
- More than money: 81% of women prioritize values related to "Body, Spirit, and Soul," believing that true wealth starts internally with clarity, wellbeing and emotional alignment.
- Values in action: 80% emphasize "Ethics, Trust & Social Order," as personal values, with a focus on fairness and moral responsibility. Most believe that wealth comes with responsibility.
Giving while living: philanthropy & wealth transfer
Women are rewriting the playbook on legacy though the timing and approach to passing on wealth to the next generation and charities varies by generation.
"With women outliving their partners and the Great Wealth Transfer underway, there is a significant concentration of wealth among Boomer women who continue their longstanding commitment to philanthropy," said O'Leary. "We're seeing younger generations of women--particularly Millennials--following suit, prioritizing legacy and charitable giving earlier and faster than ever before as their economic power grows."
- Impact now: Millennial women are leading the charge on "giving while living," with 61% planning to transfer wealth to children during their lifetime, creating generational wealth and charitable giving earlier.
- Traditional wealth transfer: Conversely, 50% of Boomer women plan to transfer most of their wealth upon their passing, as well as needs-based gifting, adhering to more traditional inheritance models.
- The philanthropic drive: Overall, 35% of women listed philanthropy as an important financial goal – 52% of Millennial women emphasize the importance of giving back, nearly double the rate of Gen X (24%) and Boomers (29%).
- Beneficiaries: Across all generations, 23% of women list philanthropy/charity as a key beneficiary of their wealth, highlighting the charitable intent woven into their wealth plans.
Women are transforming financial advisor relationships
The survey reveals that while the financial advisor remains a cornerstone of empowerment, the nature of that relationship is rapidly evolving to meet diverse generational needs.
- Confidence boost: 90% of women with a financial advisor have a financial plan, and those with plans consistently report higher confidence in their ability to maintain their lifestyle in retirement. Advisor satisfaction is high across all generations, with over 90% of women reporting their advisor personalizes solutions to fit their goals and helps them feel confident they will achieve their financial goals.
- Financial security: Half of Boomer and Millennial HNW women completely agree that they are able to enjoy life without concerns about money, compared with three in ten Gen X women.
- Trusted source: HNW women overwhelmingly cite their advisor as their primary source of truth for financial advice.
- Digital vs. traditional: Advisors must pivot to meet generational preferences. Millennial women expect digital-first interactions and 24-hour response times, while Gen X and Boomers value the reliability of regular check-ins with clear agendas.
About the Women and Wealth survey
The 2026 RBC Wealth Management Women and Wealth report is based on a survey conducted in December 2025 among 2,010 high-net-worth respondents in the U.S. (1,505 women and 505 men). Respondents were required to be 18 years of age or older, have investable assets of $1 million or more, with respondents that exceed $20+ million. The study provides a deep dive into generational nuances, featuring significant sample sizes for Millennials (463), Gen X (405), and Boomers (511).
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.?
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet.
About RBC Wealth Management
RBC Wealth Management is a leading financial services company in the United States, delivering trusted advice and world-class wealth solutions to individuals, families and businesses. With 195 offices across 43 states, RBC Wealth Management supports the complex needs of high-net-worth clients through customized wealth planning, investment management, retirement planning and more. As part of RBC, a diversified global financial institution and one of the world's largest banks based on market capitalization, RBC Wealth Management offers the scale, resources and expertise to help clients achieve their financial goals. RBC Wealth Management, a division of RBC Capital Markets, LLC, registered investment adviser and Member NYSE/FINRA/SIPC. Learn more at rbcwm.com/en-us.
Media contact:
Jennifer Ehrlich Jennifer.ehrlich@rbc.com
* Source: Cerulli and Associates Report – U.S. High-Net-Worth and Ultra-High-Net-Worth Markets
SOURCE RBC Wealth Management - U.S.
FAQ**
How does the RBC Wealth Management survey highlight the role of Millennial women in wealth creation compared to Boomer women, particularly in the context of Royal Bank Of Canada RY's insights on investment strategies?
In what ways are the financial goals of high-net-worth women, as identified in the RBC Wealth Management survey, transforming traditional wealth management practices, and how is Royal Bank Of Canada RY adapting to these changes?
What innovative approaches to philanthropy are Millennial women adopting, according to the RBC Wealth Management survey, and how can Royal Bank Of Canada RY support these efforts to foster a culture of giving?
How does the survey illustrate the changing dynamics between financial advisors and their high-net-worth female clients, and what strategies can Royal Bank Of Canada RY implement to enhance these advisory relationships?
**MWN-AI FAQ is based on asking OpenAI questions about Royal Bank of Canada (TSXC: RY:CC).
NASDAQ: RY:CC
RY:CC Trading
0.61% G/L:
$124.23 Last:
5,088,098 Volume:
$123.48 Open:
