Literaturnachweis - Detailanzeige
| Autor/inn/en | Guillemette, Michael A.; Jurgenson, Jesse B. |
|---|---|
| Titel | The Impact of Financial Advice Certification on Investment Choices |
| Quelle | In: Journal of Financial Counseling and Planning, 28 (2017) 1, S.129-139 (11 Seiten)
PDF als Volltext kostenfreie Datei |
| Sprache | englisch |
| Dokumenttyp | gedruckt; online; Zeitschriftenaufsatz |
| ISSN | 1052-3073 |
| Schlagwörter | Financial Services; Money Management; Consumer Economics; Investment; Low Income Groups; Retirement Benefits; Certification; Consultants; Decision Making Skills; Hypothesis Testing; Statistical Analysis; Incidence; Professional Identity; Behavior Change; Missouri |
| Abstract | The purpose of this study is to investigate whether a professional designation affects consumer choice behavior within the area of investment decision making. Forty-six participants were endowed with real money and received hypothetical investment advice from a certified financial planner (CFP) Professional and a stockbroker. Among low-income households, advice from a CFP altered investor choice behavior within hypothetical education and retirement savings accounts. When participants made investment decisions using education funds and received advice from a CFP, the mean expected value of their investment choices was $43,913, compared to $25,870 given advice from a stockbroker. When investment decisions were made using retirement funds, the average expected value given advice from a CFP and a stockbroker was $53,424 and $33,207, respectively. If an investor was risk-neutral or risk-seeking, investment choices were improved when advice was rendered by a CFP relative to a stockbroker. (As Provided). |
| Anmerkungen | Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: http://afcpe.org |
| Erfasst von | ERIC (Education Resources Information Center), Washington, DC |
| Update | 2020/1/01 |
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