Rich girls not doing it for themselves

By Jennifer Hill

LONDON (Reuters) - The number of wealthy women is on the up, and one businesswoman has created a service designed to take the hassle out of their money management.

Anna Sofat, the former managing director of independent financial adviser Fiona Price & Partners, and a lifelong champion of bespoke financial advice for women, founded Addidi early this year to tap into this growing market.

Women generate and control more wealth than ever before: there are more female millionaires than men between the ages of 18 and 44, and by 2020, 53 percent of British millionaires will be female, according to research consultancy Datamonitor.

Addidi's "lifestyle managers" are on call 24 hours per day, seven days a week, providing a range of day-to-day financial support combined with concierge-type services.

These including opening, acting upon and filing financial post, regularly comparing financial products to ensure clients are getting the best deal and maintaining records and other paperwork for tax returns.

Concierge services range from travel arrangements and "body and mind" services to event organising and catering. Fees are dependent on the level of service.

"While they (women) may be increasingly adept at managing multi-million pound budgets at work, their personal finances and their own pastoral care are often neglected," says Sofat.

"By taking away the hassle factor associated with daily financial management, we allow our members to focus on their aspirations and what they enjoy and do best."

Read Reuters consumer finance blog here