Piccolo, Salvatore; Puopolo, Giovanni W.; Vasconcelos, Luis - Centro Studi di Economia e Finanza (CSEF) - 2013
We study a model of financial advice where investors rely on a financial expert (the advisor) to make their asset … emerges depends on whether financial advice is exclusive or not, and in the case of non-exclusive advice, on whether the … non-exclusivity in financial advice on investment behavior and investors’ expected utility. …