Commission Bans and the Source and Quality of Financial Advice

2012 ◽  
Author(s):  
Janko Gorter
Keyword(s):  
Financial Advice

Whom to Trust for Financial Advice?

2015 ◽  
pp. 175-207
Author(s):  
Simon Pickert ◽  
Philipp Sandner
Keyword(s):  
Computational Linguistics ◽  
Financial Assets ◽  
Message Content ◽  
User Characteristics ◽  
Online Platform ◽  
Financial Advice ◽  
Behavior Based ◽  
Investment Advice

Twitter has become a popular online platform for individuals seeking news and advice about financial assets. In this study, we examine which user characteristics relate to the quality of investment advice. Due to the fact that Twitter allows users to anonymously create and share content, a large portion of the information and investment advice found on its channels turns out to be non-useful, misleading or even incorrect. Using methods from computational linguistics to analyze roughly 9 million tweets, our findings show that a set of behavior-based user features, as well as characteristics of the message content relate to the quality of proffered investment advice.

Does the Quality of Financial Advice Affect Prices?

2010 ◽  
Vol 45 (2) ◽  
pp. 387-414 ◽  
Author(s):  
Arthur Allen ◽  
Donna Dudney
Keyword(s):  
Financial Advice

Regulating Financial Advisers in the UK: Lessons for Australia

2021 ◽  
Vol 44 (1) ◽  
Author(s):  
Weiping He ◽  
Han-Wei Liu
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Best Interests ◽  
Regulatory Regime ◽  
Australian Government ◽  
Financial Advice ◽  
The United Kingdom ◽  
Self Interest ◽  
The Uk

Prompted by the 2008 Global Financial Crisis, the Australian government introduced?the Future of Financial Advice reforms in 2013. It aimed to improve the quality of financial advice by virtue of a best interests duty and a ban on conflicted remuneration,?inter alia. Despite the reforms, public trust in financial advisers remains unacceptably low. Adviser misconduct, driven by conflicted self-interest, remains prevalent. By contrast, there is relatively greater trust in financial advisers in the United Kingdom (‘UK’). This article focuses on how the UK regulates financial advisers, where the best interests duty and suitability rule also apply. The analysis that follows is confined to the legislative text. The UK regulatory regime offers directions and possibilities for further Australian reforms.

scholarly journals The role of financial literacy and advice in financial decision making

2019 ◽  
Vol 20 (1) ◽  
pp. 388-413
Author(s):  
M Reyers
Keyword(s):  
Decision Making ◽  
Financial Literacy ◽  
Financial Advice ◽  
South Africans ◽  
Financial Decision Making ◽  
Financial Decision ◽  
Low Levels ◽  
Key Questions

Financial decision making is complex and individuals either need to have the financial knowledge to make the correct decisions, or they need to ask for advice from experts. However, there are two key questions pertaining to financial advice. Firstly, do financially unsophisticated individuals know that they need advice, and do they therefore ask for assistance? Secondly, if they do ask for advice, are financially unsophisticated individuals able to assess the quality of the advice received? A growing body of research is focused on determining to what extent financial advice can act as a substitute for low levels of financial literacy. To date, studies have found conflicting results. This study used data from a national survey of South Africans to determine whether advice could substitute for low levels of financial sophistication. Additionally, the quality of advice in preretirement cash-out decisions was assessed using survey data collected at a university. The results indicate that professional financial advice complements financial literacy, while advice from other sources could substitute for low levels of financial sophistication. Furthermore, the study found that with respect to pre-retirement cash-out decisions, financially unsophisticated individuals followed advice from human resources departments or fund administrators and received quality advice.

Perceived quality of web-based financial advice and its impacts

2015 ◽  
Vol 12 (4) ◽  
pp. 319
Author(s):  
Adriano Pistoia ◽  
Bernd W. Wirtz ◽  
Marc Elsäßer
Keyword(s):  
Perceived Quality ◽  
Web Based ◽  
Financial Advice
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