The importance of the financial advisor for customer financial decision making
The importance of individuals and households for the financial economy increases. The latest crisis showed how home loans in the US played a big role. Government and authorities in the USA, EU and Sweden increase regulation and education in financial consumer markets.
Research in retail customer, or consumer financial services has been done in behavioral finance, relationship marketing, finance, and economics. The studies have increased our understanding of customer perception and behavior concerning risk and return. The studies suggest that bank advisors are important, because they have an effect on customer return on assets and customer perception of risk and return.
The purpose of this project is to take an additional step by studying bank advisor – customer relationships, and their relationship to customer decision making. We study customer decisions in terms of savings perception and behavior.
The project will increase the understanding about the role of bank advisors for customer financial savings decision making and perception.
The project is done in collaboration with Cecilia Hermansson