Brokers Favor Male Clients, Survey Finds

Brokers give male clients better investment information than they give to women, according to a survey by Money magazine.

The survey, taken by Barry Leeds & Associates, used 50 men and 50 women to pose as walk-in clients in 50 retail brokerage offices in Chicago and Los Angeles.

The results showed brokers told men about a wider range of investments than they did women. Brokers suggested government bond funds to 44% of the men, while telling only 28% of the women about the funds.

The brokers also told men about corporate bond funds, money market funds and individual retirement accounts four to six times more often than they did women.

In addition, the brokers who recommended government bond funds explained the investment to 82% of the men, while describing the funds to only 50% of the women. About 60% of the men were informed of the funds’ risk levels, compared to only 48% of the women.

Brokers also seek more male customers than female customers, the survey found.