Women have long played an important role in managing household finances, but the latest research shows just how significant that role has become. As Momentum’s She Owns Her Success festival returns for its eighth season, insights from the 2026 Bureau of Market Research (BMR) Women and Financial Advice Report, based on Momentum’s nationally representative Household Finance Survey, reveal that women are increasingly at the centre of financial decision-making in South African households.
Women account for 53.8% of the financially knowledgeable persons (FKPs) in surveyed households. Among these women, 79.3% describe themselves as the head of the household and primary financial decision-maker. This shows many women are already making the day-to-day financial decisions that keep their households running, from managing budgets and protecting their families against financial risk to balancing competing priorities in a challenging economic environment.
These findings challenge the perception that women must become more engaged with their finances. They already are. The real opportunity lies in helping financially empowered women recognise that they do not have to carry the responsibility alone.
The reality of self-reliance and the conversion gap
Currently, 73.3% of women rely entirely on their own knowledge and experience to manage household finances and make financial decisions; only 4.1% use a financial adviser. What’s particularly interesting is that this isn’t because women lack education, interest or financial capability. In fact, more than a third of the women surveyed have tertiary qualifications, and the use of financial advice generally increases as income rises. Yet even among middle-income earners, where affordability becomes less of a barrier, women are still less likely than men to seek professional financial guidance.
While women actively use digital channels to search for information, the research shows that digital awareness does not drive conversion. Information alone does not necessarily lead to action. The research suggests that perception plays a bigger role than access. More than half of women who do not use a financial adviser believe advice is too expensive or view it through a narrow, transactional lens as primarily focused on selling products, managing debt, or drawing up a budget.
As a result, many miss the broader value of a long-term advice relationship that can help them navigate major life decisions, build wealth, retirement plan, and protect their family’s future. The study found that women are far more likely to engage with a financial adviser when there is a foundation of trust, with personal referral and local accessibility being the strongest drivers of engagement.
The message is clear; the gap isn’t between women and financial decision-making – women are already making those decisions every day. The gap lies between managing finances alone and recognising the benefits of having a trusted professional by your side to help make life’s biggest financial choices with confidence.
Shifting the mental model
One of the most encouraging findings from the study is what happens when women take the step of working with a financial adviser. Once they build a relationship with a trusted adviser, their understanding of the value of advice often changes significantly. They begin to see financial planning as more than a once-off transaction but an ongoing partnership that helps them navigate different stages of life, from growing their savings and investments to planning for retirement, protecting their families, and achieving long-term financial goals.
Furthermore, it materially transforms trust. Women who don’t engage with a financial adviser often anticipate product-driven motives or cost biases. However, once engaged, the trust score among women climbs significantly. What is clear is that women don’t give trust blindly; it must be earned through demonstrated competence, confidentiality, and explicit alignment with their goals.
Meeting women where they are: a partnership for the win
To close the trust gap, the financial advice industry must further evolve to become a truly collaborative partnership that recognises how women prioritise risk. Not surprisingly, under constrained economic realities, women’s financial behaviour is protection-led. Their portfolios show the highest participation in funeral cover (61.5%) and life cover (27.6%) instruments that guarantee immediate-event liquidity, social dignity, and household continuity. Even under severe financial stress, 43.5% of women will prioritise retaining their funeral cover above all else.
These statistics confirm that for women, financial resilience follows a very specific sequence: immediate protection and shock absorption come before structured wealth creation. And while protection is an essential foundation, it is only one part of a successful financial future. Building long-term wealth, creating financial independence, and leaving a legacy requires a broader strategy and a longer-term view.
Women are already taking charge of their financial futures. The opportunity is not to replace that confidence and capability, but to strengthen it. By combining their own knowledge and experience with professional guidance, women can move beyond simply protecting what they have today and begin building the financial future they want for themselves, their families and generations to come.
Article by: Sharon Hamman, Senior Legal Adviser at Momentum
