Financial Advisory: Basic Roles and Functions
C Cruciani, C Cruciani - Investor Decision-Making and the Role of the …, 2017 - Springer
C Cruciani, C Cruciani
Investor Decision-Making and the Role of the Financial Advisor: A Behavioural …, 2017•SpringerThis chapter looks at the different roles that advisors play in the client–advisor relationship.
Looking at empirical data, the first section of this chapter shows that the main goal of
financial advisory—improving financial returns—is not effectively pursued. This chapter
looks at the ancillary roles that advisors play, which include information transmission,
financial education and biases management. The literature assessing the effectiveness of
the different ancillary roles is reviewed. The evidence reviewed suggests that the premium …
Looking at empirical data, the first section of this chapter shows that the main goal of
financial advisory—improving financial returns—is not effectively pursued. This chapter
looks at the ancillary roles that advisors play, which include information transmission,
financial education and biases management. The literature assessing the effectiveness of
the different ancillary roles is reviewed. The evidence reviewed suggests that the premium …
Abstract
This chapter looks at the different roles that advisors play in the client–advisor relationship. Looking at empirical data, the first section of this chapter shows that the main goal of financial advisory—improving financial returns—is not effectively pursued.
This chapter looks at the ancillary roles that advisors play, which include information transmission, financial education and biases management. The literature assessing the effectiveness of the different ancillary roles is reviewed. The evidence reviewed suggests that the premium that advisors bring to the relationship with their clients can be found in the support they provide at emotional level. Framing the client–advisor relationship as a fiduciary relationship based on trust allows reconciling the evidence reviewed.
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