Wealth used to be a man's world, but the gap between the sexes when it comes to money is narrowing rapidly, a British report shows.
The number of female millionaires in Britain has been rising on the back of social trends - such as inheritance and the rapidly climbing divorce rate - according to independent market analyst Datamonitor.
On top of that, a new generation of women have started to prosper in their own right, and female entrepreneurs are increasingly growing in number.
While a male millionaire's wealth has increased by an average 9.2 per cent over the past eight years, the worth of a female millionaire has ballooned by 53.9 per cent, Datamonitor found.
In 1998, the average male millionaire was worth STG2.71 million ($A6.53 million), while the female equivalent owned just STG1.28 million ($A3.08 million).
However, by 2006 the gap had narrowed to STG2.96 million ($A7.13 million) for male millionaires and STG1.97 million ($A4.75 million) for women.
Currently, women make up around 46 per cent of Britain's 376,000 millionaires - and their number is growing by almost 11 per cent a year.
Some 3,800 British women own liquid assets of more than STG5 million ($A12.05 million), Datamonitor said.
The number of women of "high net worth" status (classified as those with onshore liquid assets of more than STG200,000 ($A481,985.78)) overtook men in 2005 - with 448,100 rich women compared to 429,300 men.
Private, investment and high street banks are vying to capture a larger slice of this potential market.
But while Citigroup in the United States has gone as far as launching a service aimed specifically at women, many British banks have yet to make a move.
The majority of female-focused offerings have taken the "champagne and chocolate approach", but Lauren McAughtry, a financial services analyst at Datamonitor and author of the report, warned that women were looking for more than "a spa discount and pink website" from their private bank.
She added: "Unfortunately many banks don't yet have a specific budget to research the segment, so instead are having to focus on tactics rather than long-term goals.
"This lack of strategic thought is resulting in opportunities being missed, and leaves a potential gap in the market."
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Topic: Women Getting Richer (Read 5756 times)