Women’s financial confidence is on the decline even as their economic influence is rising, according to the Allianz 2019 Women, Power and Money Study.

In 2019, 62 percent of women told Allianz that they were financially secure, fewer  than in 2016, when 68 percent said that they were secure. Fewer women also said that they were receiving promotions at work in 2019—27 percent, copmared with 44 percent in 2016.

The survey’s 900 respondents reported declining coinfidence in other areas of financial health. For example, 38 percent of women in 2019 reported being the breadwinner in their household, down from  47 percent in 2016 and 60 percent in 2013.

Women are also now less likely to report being the “CFO” of their household. While 47 percent said they held that position in 2019, that down's from 51 percent in 2016 and 53 percent in 2013.

Fewer women reported having more earning power as well, the percentage declining from 57 percent in 2013 and 50 percent in 2016 to 42 percent this year.

“These findings were quite surprising because women have come a long way when it comes to our roles in work and family, yet we don’t feel prepared financially,” said Aimee Lynn Johnson, vice president of financial planning strategies for Allianz Life, in released comments. “This begs the question, at a time when women are accomplishing so much, why aren’t they feeling more empowered about their financial future?”

Allianz also said some of women’s declining sentiment can be attributed to market volatility.

Women are making gains in one area: More women in the survey said that they are taking responsibility for saving and long-term financial planning in their household in 2019 (90 percent) than said the same in 2016 (86 percent).

Yet, according to the survey, only 25 percent of women are engaging a financial professional, down from 30 percent in 2016. Of the women working with a financial professional, 60 percent said that their spouse or partner was being treated as the household decision maker.

The survey was conducted in April among women aged 25 to 75 with household incomes of $30,000 or higher.