Journal of
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What do consultants think about investors’ behavior and financial education?

Andrea Beltratti, Alessia Bezzecchi
April 2019 - n. 4
Keywords: Educazione finanziaria, investitori, consulenza, banche
Jel codes: G11, G18, G21, G4

We show in this paper that managers who work for the most important Italian financial distributors believe that financial education is a relevant element for retail clients’ portfolio choices. The survey respondents are aware of the gaps existing in financial education and believe they have an important role in filling such gaps. They also suggest that financial education is hard to measure but is useful mainly to empower the relation between clients and consultants. Our results are consistent with the academic literature showing a positive relation between the level of financial education, stock market ownership, and risk-adjusted portfolio returns.

 

 

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