Midlife divorce is evolving as women take greater ownership of shaping their futures in line with their own priorities and values. The Beyond the Break report, compiled by NOON for Mishcon de Reya and Julius Baer International, explores this evolution through a survey of 2,000 women aged 45 to 65, alongside focus groups and interviews with high-net-worth (HNW) and ultra-high-net-worth women.
One of the report’s most striking insights reflects a reality many women recognise: during divorce, financial advice is often missing when it matters most. While 59 per cent of women seek legal support, a staggering 91 per cent do not engage a financial adviser during divorce, including those with substantial assets.
Yet forty-six per cent of women initiate divorce, and more than half say they would leave a marriage that no longer works for them. Many describe a new sense of independence and purpose. Beneath this, however, can lie a quiet anxiety that their financial lives feel less certain than their emotional resolve.
The growing intersection of women and wealth
Julius Baer Relationship Manager Patricia Astley has seen this shift unfold first-hand. “Over the past five years, I’ve seen a real change,” she says. “More women in their fifties are coming into wealth,” she explains. “A lot of them are coming through inheritance, through their own careers, or through divorce. They’re the fastest-growing area in wealth management, and they’re incredibly underserved.”
This moment sits at the intersection of longer life expectancy, generational wealth transfer, and personal reinvention. Many women reach this stage with children grown and careers more established, creating space to reassess priorities. That shift opens new possibilities, while also introducing decisions that can feel unfamiliar or complex.
Astley reflects on the broader context. “You’ve got women living longer, a huge transfer of wealth, and a stage of life where people reassess what they want from the next stage of life. That combination creates a very specific need for thoughtful advice.”
Why are fewer women seeking financial advice than men?
The report’s striking finding that 91 per cent of women do not engage a financial adviser during divorce may be traced to long-standing cultural patterns, explains Astley. “For years, women had a negative feeling around money. It was almost taboo. They were encouraged to save, but not to invest, and they weren’t brought into the conversation,” she explains. “Many felt invisible, and that has carried through.”
That legacy still shapes behaviour. Financial language can feel distant or overly technical, and expectations of expertise can discourage questions. “There are incredibly successful women who have built businesses and created wealth,” Astley says. “But if they don’t feel fully, completely comfortable with the terminology, they tend to step back.”
She offers a different perspective. “Women aren’t risk-averse, they’re risk-aware. They want to understand before they act. When that understanding is there, engagement follows naturally.”
A more holistic approach to advice
The report highlights a clear need for a “wraparound divorce team”, bringing together legal, financial, emotional, and practical support. More than half of women report that they did not receive this broader support during divorce.
For Astley, this approach begins with understanding the individual. “It’s about connecting the different elements of a woman’s financial life,” she explains. “Cash flow, pensions, long-term planning, and how she prepares for retirement all need to reflect how she actually lives.” She adds, “Women are living longer, so their money needs to support them for longer.”
This perspective aligns with a broader shift in how clients think about wealth. Conversations tend to begin with life goals rather than performance metrics. “Women often talk about what they want to achieve – life events, family priorities, future plans,” Astley says. “From there, the investment strategy takes shape.”
Trust plays a central role in that process. “My first conversation is about their relationship with money and how comfortable they are,” she says. “I listen first, and then we move forward together.”
The complexity of wealth at scale
For HNW and UHNW women, divorce introduces further complexity at an already demanding time. Assets may span jurisdictions, include business interests, or sit within sophisticated structures, requiring careful coordination.
Astley highlights the importance of a joined-up perspective. “We work closely with wealth planners across different regions,” she says. “Clients may have assets in several countries, each with its own legal and tax framework. It’s important to bring those elements together clearly.”
She also sees a broader shift in priorities among wealthy women. “Many are thinking about how to involve their children, how to structure wealth for the future, and how to align their finances with what matters to them personally.”
Confidence can still present a barrier. Astley recalls a client who had sold her business for a significant sum but felt unable to admit she did not fully understand her investment mandate. “She told me she would never say that to her adviser. That kind of barrier is more common than people realise.”
A case study in missed opportunity
One client story brings these challenges into sharp focus. She approached Astley after her divorce had already been finalised, having made key decisions without financial guidance. During the settlement, she chose to retain a property in New Zealand, motivated by a desire to create a sense of continuity for her children.
“She was deeply attached to that property,” Astley says. “It represented stability, a sense of home for her children at a time when other parts of their life felt uncertain.”
The decision came with significant trade-offs, The client accepted reduced liquidity and fewer pension assets in exchange. Over time, the practical implications became clearer. “They rarely go there now,” Astley explains. “It’s expensive to maintain, and it continues to weigh on her finances. She didn’t take pension assets, so her long-term position has been affected.”
Looking back, the client described feeling “exposed and naked” during the process, and expressed regret that financial advice had not been part of the conversation earlier. Rebuilding stability required careful restructuring and long-term planning. Astley reflects on the lesson. “When advisers are involved early, we can help clients see the bigger picture,” she says. “We can step back and consider how the woman’s financial life will function over time, which changes outcomes.”
The importance of timing and trust
Timing plays a critical role in shaping outcomes. Astley advocates for financial advice early in the process, once the initial emotional shock has begun to settle. “That’s the point when decisions start to form,” she explains. “Being involved allows us to support clients in a more meaningful way.”
Collaboration with legal advisers strengthens this process. “We can help lawyers understand what the client needs financially,” she explains. “It becomes a shared effort, which gives the client greater confidence.”
Emotional awareness is equally important. “You have to understand how far to guide and when to step back,” Astley says. “It’s about supporting the client’s future while respecting what they are going through in the moment.”
A new chapter for women and wealth
The Beyond the Break report points to a powerful outcome. Nearly a third of divorced women describe themselves as happier than they have ever been, often speaking of renewed independence and confidence.
Astley sees this transformation frequently. “When women feel supported and understand their finances, they become incredibly empowered,” she says. “They take control, they make decisions, and they move forward with confidence.”
The message for the industry is becoming clearer. Women require a more thoughtful, empathetic approach, grounded in education and trust. Astley captures the essence of this shift. “Knowledge is power,” she says. “When women understand their finances, they reclaim their agency. It gives them the confidence to move forward with clarity and a stronger sense of direction.”
Read more in the full report, available below.