Arbeitspapier
Financial Advice and Household Financial Portfolios
We investigate the role of financial advice in shaping the composition of household portfolios in Great Britain. Advice is associated with a reallocation of wealth away from real estate and towards bonds and stocks, especially when households seek financial advice "for investments". Having a consultation with a stockbroker has a particularly large effect on the portfolio share in stocks. However, even free financial advice has a positive effect on the shares in bonds and stocks, compared to not receiving advice. Finally, we find a positive association between alternative measures of portfolio risk and the composition of the portfolio, whilst accounting for financial advice.
- Sprache
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Englisch
- Erschienen in
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Series: IZA Discussion Papers ; No. 14301
- Klassifikation
-
Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
Portfolio Choice; Investment Decisions
Household Saving; Personal Finance
- Thema
-
financial advice
financial risk
household financial portfolios
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Brown, Sarah
Bucciol, Alessandro
Montagnoli, Alberto
Taylor, Karl
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute of Labor Economics (IZA)
- (wo)
-
Bonn
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Brown, Sarah
- Bucciol, Alessandro
- Montagnoli, Alberto
- Taylor, Karl
- Institute of Labor Economics (IZA)
Entstanden
- 2021
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