The value of personal professional financial advice to clients: A systematic quantitative literature review-Reference-Cited by-同舟云学术

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

Published:2023-05-11 Issue:4 Volume:63 Page:4399-4429
ISSN:0810-5391
Container-title:Accounting & Finance
language:en
Short-container-title:Accounting & Finance

Author:

MacDonald Kirsten L.¹^ORCID,Loy Ellana¹^ORCID,Brimble Mark¹,Wildman Karen¹

Affiliation:

1. Department of Accounting, Finance and Economics, Griffith Business School Griffith University, Gold Coast Campus Southport Queensland Australia

Abstract

AbstractFinancial 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.

Funder

Griffith University

Publisher

Wiley

Subject

Economics, Econometrics and Finance (miscellaneous),Finance,Accounting

Link

https://onlinelibrary.wiley.com/doi/pdf/10.1111/acfi.13099

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