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The value of personal professional financial advice to clients: A systematic quantitative literature review

The value of personal professional financial advice to clients: A systematic quantitative... Financial advice is perceived to be inaccessible and complicated with consumers at the mercy of a sector under sustained scrutiny, raising questions about value for clients. This study systematically reviews the literature on the value of financial advice. Extant research focuses on financial benefits and lacks a holistic view of value and the factors impacting it. Gaps exist across non‐financial benefits, geographic regions and over time. We call for a sustained and coordinated approach to research in this field. The findings inform consumer engagement strategies, policies concerning the uptake of professional financial advice and development of the profession. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Accounting and Finance Wiley

The value of personal professional financial advice to clients: A systematic quantitative literature review

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References (29)

Publisher
Wiley
Copyright
Accounting and Finance © 2023 AFAANZ
ISSN
0810-5391
eISSN
1467-629X
DOI
10.1111/acfi.13099
Publisher site
See Article on Publisher Site

Abstract

Financial advice is perceived to be inaccessible and complicated with consumers at the mercy of a sector under sustained scrutiny, raising questions about value for clients. This study systematically reviews the literature on the value of financial advice. Extant research focuses on financial benefits and lacks a holistic view of value and the factors impacting it. Gaps exist across non‐financial benefits, geographic regions and over time. We call for a sustained and coordinated approach to research in this field. The findings inform consumer engagement strategies, policies concerning the uptake of professional financial advice and development of the profession.

Journal

Accounting and FinanceWiley

Published: Dec 1, 2023

Keywords: financial planning; financial services; professions; value of advice; wellbeing

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