You might not get what you need: The discrepancy between financial advice and commissions in Germany

被引：6

作者：

Mietzner, Mark ^{[1
]}

Molterer, Manuel ^{[1
]}

机构：

[1] Zeppelin Univ, Seemooser Horn 20, D-88045 Friedrichshafen, Germany

来源：

ECONOMICS LETTERS | 2018年 / 162卷

关键词：

Commission selling; Financial advice; Agency problem; Earmarked financial product; Savings and loan contracts; COMPETITION; LITERACY; INDUSTRY;

D O I：

10.1016/j.econlet.2017.11.004

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Retail banking customers seeking financial advice naturally aim to build portfolios that will support their lifetime planning goals. However, discrepancies may arise between the quality of financial advice and advisor commissions. We use savings and loan contracts (SLCs), a financial product earmarked by law for housing purposes, to empirically show that professional advice is no guarantee of a suitable match between investments and individual savings targets, even for the most financially experienced households. (C) 2017 Elsevier B.V. All rights reserved.

引用

页码：167 / 170

页数：4

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