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 …

Information aversion—a preference-based fear of news flows—has rich implications for
decisions involving information and risk-taking. It can explain key empirical patterns on how …

This study investigates whether professional financial advice (“PFA”) can assist households
in making better‐informed financial decisions and whether PFA may help households …

We model an anxious agent as one who is more risk averse with respect to imminent risks
than with respect to distant risks. Based on a utility function that captures individual subjects' …

In Canada, financial advisors and dealers are required by provincial securities commissions
and self-regulatory organizations—charged with direct regulation over investment dealers …

Robo-advisors that provide investment advice online on the basis of risk profiling
questionnaires have recently made a breakthrough in the investment management industry …

Motivated by individuals' emotional response to risk at different time horizons, we model an
'anxious' agent–one who is more risk averse with respect to imminent risks than distant risks …

We study a comprehensive dataset of more than 25,000 portfolios from 28 different banks or
investment banks in Mexico during the period from September 2008–August 2009. Some of …

We use data from financial advisers' professional exam scores and other variables to build
an index of financial sophistication. A one standard deviation reduction in sophistication …

This chapter explores the economic and psychological aspects of private wealth and the
practice of wealth management from a holistic perspective. It focuses on the investor …