In household financial planning two types of risk are usually taken into account, that is – life-length risk and risk connected with financing. There are no research in which stochastic nature of the very financial goals is considered. Risk factors in this area may be different depending on...

We study the value added of automated financial management (AFM) services along two dimensions: diversification and account size flexibility. First, using a company-specific experiment with matched AFM and traditional portfolios, we find AFM portfolios are significantly better diversified....

PurposeThis paper researches the professionalization of financial planning in Australia. The authors investigate how the institutional logic of major institutions inhibits this occupation from moving toward a professional status.Design/methodology/approachThe study uses documentary analysis of...

With mortgage foreclosure rates at an all time high and more than one-million Americans expected to file bankruptcy in 2008, it is safe to conclude that many Americans have overextended themselves with debt. This study tests the hypothesis that many Americans do not have the knowledge, skills or...

One problem for sustainability of systems pensions is how people without specialized financial training could manage their resources and their actual personal intentions towards retirement. Research objective is to analyse the relationship among several factors that affect the behaviour towards...

Employing structured financial planning to manage personal finances on is associ-ated with higher levels of financial well-being and increased ability to react to shocks. Therefore, it is important to understand the factors associated with the propensity to plan and what it is that promotes...

English abstract. Employing structured financial planning to manage personal finances is associated with higher levels of financial well-being and increased resiliency to shocks. Therefore, it is important to understand the factors associated with the propensity to plan and what it is that...

We examine the relationship between financial knowledge and long-term financial planning behavior. This analysis is important in light of the recent financial crisis and the current level of economic uncertainty. Survey responses from U.S. households are analyzed using analysis of variance,...

Research in consumer psychology is essential for developing a deep understanding of how consumers make financial decisions as well as for creating solutions to improve this process. Fortunately, there has been substantial growth in research in this area among consumer behavior scholars in recent...

This study used an experiment to investigate the association between race, gender, and trust as it relates to working with a financial planner among a sample of Black and White MTurk respondents. Results revealed neither a respondent nor a financial planner's race was related to the level of...