Women have become smarter, more confident investors over the last 10 years, but those gains haven’t necessarily brought them closer to financial security, according to the results of a survey commissioned by OppenheimerFunds Inc.

The survey looked at the investing attitudes, practices and knowledge levels of 884 women and 401 men in the United States. It was released to coincide with the 10th anniversary of the company’s 1992 research on the subject.

The suvey found that 77% of the women surveyed say that they are more knowledgeable about investing than they were five years ago, and 79% consider themselves more knowledgeable about investing than their parents were at their age. By comparison, 67% of the women surveyed in 1992 considered themselves more knowledgeable than their parents. Today, 49% of women say they aren’t sure how a mutual fund works, versus 62% in 1992.

Despite all the progress, women — like most men — have a long way to go to secure their financial futures. About 51% of all women surveyed said they had total household financial assets including retirement accounts of less than US$100,000. That compares with 45% of men.

While most women have further to go to reach their financial goals, they demonstrate many of the qualities as investors they’ll need to attain them. Women are much less inclined than men to take ill-advised risks, and more inclined to hold fast in volatile times.

For example, 34% of female investors surveyed have purchased stock on a tip from a friend. That compares to 51% of male investors. Similarly, 20% of female investors have lost half their investment in a tech stock within the last three years. That compares to 29% of male investors.

The research revealed women’s strong propensity to work with an advisor: 37% of female investors cite financial advisors as their single most important source of investing advice. By comparison, 26% of male investors cite advisors as their most important source of investment advice. Among higher net worth women, the reliance on financial advisors is even more pronounced, with 47% of women in households with US$250,000 or more in financial assets citing financial advisors as their primary source of investment advice.

At the same time, there is an enduring perception among men and women alike that financial advisors treat women with less respect than they treat men. Fifty-four per cent of all women respondents — and 43% of men — said financial advisors do not treat women with the same respect they show to men. In that regard, the survey has shown little progress over the last 10 years as 57% of the women surveyed in 1992 said advisors do not treat women with as much respect as they treat men.

Despite the perception that women are treated with less respect by financial advisors, gender generally is not an issue in the selection of an advisor. Fifty-eight per cent of women say the gender of their financial advisor does not matter and another 21% would actually prefer to work with a man.

The survey was conducted by telephone between March 26 and April 9 by Harris Interactive, an independent national polling firm. Results are based on interviews with 1,285 respondents. The margin of error for the female sample is +/-3.3%. The margin of error for the male sample is +/-4.9%.