search query: @indexterm ECONOMICS / total: 4580
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| Author: | Oehler, A. Kohlert, D. |
| Title: | Financial advice giving and taking-where are the market's self-healing powers and a functioning legal framework when we need them? |
| Journal: | Journal of Consumer Policy
2009 : JUN, VOL 32:2 p. 91-116 |
| Index terms: | behavioural science economics service quality asymmetric information customers Germany |
| Freeterms: | regulatory framework |
| Language: | eng |
| Abstract: | The study investigates the customer satisfaction to the financial advice services that the German banks offer. Specifically, the research pays attention to the reasons why the coexistence of information and interest asymmetry between retail clients and advisors often leads to poor advice quality and for what reason it can not be prevented. According to empirical researches the satisfaction is measured using friendliness and appearance of the advisor giving less importance to the quality of the information exchange between clients and advisors. The study is made using both an advice giving and taking model (AG&T) and testing the hypotheses having test clients to measure the quality of financial advices. The findings were congruent with the previous researches. In addition, some suggestions for the existing problem of poor quality of the information exchange between client and advisor were found. |
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