Guaranteed bank accounts: Women less likely to take financial risks

Women are more likely to take steps to ensure their financial security, guaranteed bank account customers have been told.

Anna Sofat, founder of Addidi wealth management service, said that she had not noticed an increase in the number of women declaring themselves bankrupt from within her own client base.

She added that there did not appear to be any other evidence to suggest that female insolvencies had increased over the last 12 months.

Ms Sofat said: "Women tend to be more risk averse and take less risk with their core financial security ... [Any insolvencies increase] is just a reflection of the fact that many more women are now financially independent."

The comments come as research from accountancy firm Wilkins Kennedy found that bankruptcies had risen among middle-aged women (aged 35 to 54), climbing by as much as 37 per cent between 2008 and 2009.

This is higher than any other demographic, and compared to an increase of 22 per cent for men of the same age.