More than two-thirds (67 per cent) of high net worth (HNW) women say that divorce contributed to the value of their current net worth, research from Charles Stanley has shown.

Charles Stanley noted that while divorcees typically see a “significant drop” in household income following a break up, 16 per cent of HNW women said their divorce contributed a significant amount to their net worth.

Meanwhile, 27 per cent said that it contributed a moderate amount and 23 per cent stated that it contributed a small amount to their current net worth.

A third (33 per cent) of HNW women were either awarded everything or the majority of assets in their divorce settlements, with 17 per cent getting everything and 16 per cent receiving more assets than their ex-partner.

While Charles Stanley found that divorce seemed to have boosted women’s net worth, it highlighted that the findings still brought into question how vulnerable divorcees were.

More than a fifth (21 per cent) of HNW women said their financial situation had got better after their divorce, but 17 per cent felt it had got worse.

Although 21 per cent of divorced women said they had changed the way they approach their finances, only 18 per cent had spoken to a financial adviser.

The study also found that 18 per cent of HNW women felt anxious about how they would cope with their finances, 14 per cent felt overwhelmed, and 19 per cent said they wished they were more aware of their financial circumstances before they got divorced.

“Divorce can be a difficult and lonely experience to go through, both emotionally and financially,” stated Charles Stanley financial planner, Mia Kahrimanovic.

“While this research shows that women are stepping away from divorce with positive contributions to their net worth, it does illustrate how many are also financially vulnerable.

“Inheriting any sum of money, whether from a divorce or bereavement, can provide a valuable opportunity for individuals to take more control of their lives, and for women, help them in feeling financially empowered.

“At the same time though, it can seem overwhelming, which is why it’s a good idea to seek professional advice to help establish a secure financial future, both individually and for any family involved.”

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