GBM Bets on Women as Mexico's Next Investor Class

Only 1.1% of Mexican women invest in financial instruments such as funds or equities, a figure that has grown since 2015 but at a pace that has allowed the gender investment gap to nearly double relative to male participation over the same period. Structural factors including a 14% gender wage gap, disproportionate unpaid labor burdens, career interruptions linked to maternity, and longer life expectancy collectively reduce women's capacity to accumulate investment capital despite evidence that women demonstrate stronger financial discipline than men. For financial institutions and fintechs operating in Mexico, the data identifies a significantly underpenetrated market segment at a moment when digital platforms are reducing barriers to entry and intergenerational wealth transfers are increasing female asset ownership globally.

In a country where barely 1% of women invest in instruments such as funds or equities, GBM hosted Mujeres que Construyen Patrimonio (Women Who Build Wealth), an event designed to confront that reality head-on and offer a practical roadmap for closing one of Mexico's most persistent financial gaps. The evening, led by Miriam Acuña, GBM's Chief Economist, combined personal testimony from senior executives, and actionable investment guidance, all grounded in a single premise: waiting to feel ready is itself a financial decision with a cost.

Acuña opened her keynote with a show of hands. Nearly the entire room indicated they already invest. "Although it seems normal here, the reality is that it is not," she told the audience. "In Mexico, barely 1% of women invest in instruments like funds or equities. Those of you who raised your hand are part of that 1%, and that is already something exceptional."

The data Acuña presented tells a story of widening divergence. In 2015, 0.4% of Mexican women invested. By 2024, that figure had climbed to 1.1%, an encouraging trajectory in isolation. But when compared against the growth rate among men over the same period, the picture darkens: the investment gap between men and women nearly doubled between 2015 and 2024. "The problem is not capacity," Acuña argued.

That structure begins well before an investment account is opened. In Mexico, for every MX$100 (US$5.7) a man earns, a woman earns an average of MX$86, a gap that compounds over an entire career. Part of it stems from educational choices and the lower representation of women in higher-paying sectors, but Acuña pointed to a less visible force: the maternity effect. The years immediately following the birth of a first child are typically when the most significant professional promotions and salary jumps occur, and they are precisely the years when many women step back from the labor market. "When we return, our salary either stays flat or is no longer growing at the same pace," she said. "That is when the gap widens significantly."

The structural disadvantage extends further still. Mexican women dedicate nearly 40 hours per week to unpaid work, caring for children, elderly relatives, and managing households, compared to 18 hours for men. "We work more than men," Acuña noted, "but a large part of that work is not market work, and that has direct effects on income, savings, and wealth accumulation."

And then there is time, the variable that makes all of this more urgent, not less. Mexican women live an average of six years longer than men. Their money must last further into old age, built from a smaller base, accumulated over a career that has faced more interruptions. "If we accumulate less wealth and live more years, financial planning clearly becomes more important," Acuña said.

Yet the data also contains a compelling counterargument to any narrative of female financial passivity. Women, Acuña observed, are demonstrably better at managing money: more likely to save rather than spend, more likely to pay bills on time, more likely to evaluate whether they can afford something before buying it. Mexico's social transfer programs, Progresa, Oportunidades, Prospera, delivered payments directly to women for decades precisely because evidence showed that money managed by women was more consistently directed toward education, health, and nutrition. "We are very good at managing money," Acuña said. "So why do we invest less than men?"

Her answer is a convergence of factors: lack of confidence, career trajectory, the wage gap, and cultural beliefs passed down through generations. Acuña was candid about her own experience. She was already working at GBM before she began investing, not from lack of knowledge or capital, but from a desire to feel fully expert before committing. "I wanted to feel like a super-expert in the subject before deciding which instrument to put my money into," she admitted. "That moment, when you feel completely ready, is very likely never going to come."

The good news, she argued, is that the macro picture is shifting. Globally, women now control approximately one-third of the world's wealth, a figure projected to reach 40% by 2030. The largest intergenerational wealth transfer in history is underway, and inheritances that once flowed primarily to men are increasingly going to women. At GBM itself, the number of women opening investment accounts is growing across every age cohort, from under 20 to over 60. "It is never too early to start," Acuña said, "but it is also never too late."

That arc of growing participation reflects a broader trend in Mexico's financial system. Digital platforms have reduced costs and democratized access to investing, with some platforms now allowing retail investors to start with as little as MX$100. Yet access alone has not closed the gap. According to Vanguard, only 3% of Mexico's total population invests in funds, compared to 36% who participate in pension systems or life insurance, a figure that underscores how far the country remains from a genuine investing culture. Mexico has approximately 10,000 certified financial advisors for over 100 million adults, a ratio described by GBM as "completely insufficient," particularly when compared to Brazil's 70,000 or the United States' 350,000.

The event's two panels translated Acuña's keynote into concrete territory: the financial decisions that shaped the trajectories of GBM's senior executives, the distinction between generating income and building lasting wealth, and the practical questions that most often paralyze first-time investors, how to start, how much capital is needed, when to seek an advisor, and what the most common early mistakes look like.

Acuña's closing message was simple and direct: "Do not wait to know everything before you start. Start to learn. Because investing is not about having all the answers. It is about deciding that your money grows with you."