Financial advice could play an essential role in well-functioning markets for retail fi…nancial products, given that many consumers fi…nd it difficult to evaluate the complex products on offer. However, conflicts of interest, which are pervasive in some parts of the industry, can turn advice into a curse rather than a blessing for consumers, especially when consumers are not sufficiently wary. Through a simple model of …financial advice, we overview the pros and cons of various policy interventions, such as imposing mandatory disclosure, banning commissions, and regulating contract cancellation terms.

Financial advice

OTTAVIANI, MARCO M.
2012

Abstract

Financial advice could play an essential role in well-functioning markets for retail fi…nancial products, given that many consumers fi…nd it difficult to evaluate the complex products on offer. However, conflicts of interest, which are pervasive in some parts of the industry, can turn advice into a curse rather than a blessing for consumers, especially when consumers are not sufficiently wary. Through a simple model of …financial advice, we overview the pros and cons of various policy interventions, such as imposing mandatory disclosure, banning commissions, and regulating contract cancellation terms.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11565/3788103
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