Crucially, females are far less risk tolerant than men, with just 31 per cent of women prepared to take more risks for higher investment gains, compared to 49 per cent of men, according to the research.

The survey encompassed 2,000 high net worth women with over $1.6 million in investable assets from 20 countries across Europe, North America, South America, the Middle East and Asia-Pacific.

Female investors in the survey were more likely to admit they felt stressed, and say they had “low composure” than their male counterparts . This may arise from having a greater desire for self-discipline and control over their finances , said Barclays Wealth.

“Biologically, several studies have linked financial risk taking to testosterone. Cognitively, men are more likely to be confident, though not more accurate, in their financial decisions, and sociologically, women tend to value wealth as a source of security, not opportunity,” said Dr Emily Haisley, a behavioral finance expert at Barclays Wealth.

On inheritance planning, women were less likely to have a will in place, with over 30 per cent of women lacking a succession plan compared to 20 per cent of men.

However, Dr Haisley cautioned against using research findings as a basis for stereotyping men and women. She is wise to do so: other recent research, released in the US by the Family Wealth Advisors Council, found that one of the areas firms fell down on with their female clients was not listening to their unique needs.

As women live longer, and are attaining more in professional and business spheres nowadays than ever before, their share of the world’s wealth is growing. To put this into context, the World Bank predicts that women will control a GDP that is bigger than that of India and China combined by 2014, the report notes. Unsurprisingly, they are also becoming more engaged with their personal finances.

“As the rate of women’s wealth rises exponentially across the world, it is becoming increasingly vital that financial institutions and wealth managers address and understand these differences in order to cater for female clients more effectively, based on personality and lifestyle, as well as gender,” said Barbara-Ann King, head of the female client group at Barclays Wealth.

As well as establishing a female client group, Barclays Wealth last year initiated a program to address advisor training and create appropriate products and services, in light of a growing female potential client base. As part of this offering, the wealth manager has launched a magazine targeting women who want to know more about their finances, an example of which can be viewed here.