Relevant bibliographies by topics / Financial advisory

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  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers
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Academic literature on the topic 'Financial advisory'

Author: Grafiati
Published: 4 June 2021
Last updated: 14 February 2022

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Journal articles on the topic "Financial advisory"

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Hargreaves-Heap, Shaun, and Oleksandr Talavera. "Efficiency in the Market for Financial Advisory Services to Businesses." Visnyk of the National Bank of Ukraine, no. 246 (December 28, 2018): 34–49. http://dx.doi.org/10.26531/vnbu2018.246.034.

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This paper considers whether company decisions on their advisors promote efficiency in the market for business advisory services. We employ a fixed effects measure of advisor quality and find that no fine-grained measure of performance seems to influence separation and hiring decisions. We do find that, under a rule of thumb measure of advisor performance, firms are more likely to ditch “bad” and “neutral” advisors than “good” ones. Unfortunately, using the same rule of thumb measure, firms appear no more likely to hire “good” quality new advisors than could be expected by chance. As a result, in less than 10% of all separations, the new hire yields an improvement in advisor quality. In short, there is a substantial amount of movement in the market with no benefit.
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Mitek, Łukasz Maciej. "Household financial planning with financial advisory assistance." Współczesne Finanse. Teoria i Praktyka 1 (2016): 73–82. http://dx.doi.org/10.18276/wf.2016.1-07.

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Venter, J. M. P. "Are South African financial advisor addressing the estate planning objectives that are important to their client?" Risk Governance and Control: Financial Markets and Institutions 4, no. 2 (2014): 125–31. http://dx.doi.org/10.22495/rgcv4i2c1art5.

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Estate planning is an important aspect of any effective financial plan. When preparing an estate plan several objectives identified by the individual planner, as well as several pieces of legislation have to be considered. In South Africa the actions of financial advisors are regulated by the Financial Advisory and Intermediary Services Act. The act aims to ensure that the financial advisor act in the best interest of his / her client. If the act meets its set objectives there will be an alignment of objectives set by a financial advisor and his / her client. This study investigates the existence of an expectation gap between the estate planning objectives considered to be important by the financial advisor and the importance allocated to these factors by the clients. The study found that there was an expectation gap for three of the objectives that should be considered in the estate plan.
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Colby, Eben, Thomas DeCapo, Kenneth Burdon, and Aaron Morris. "What can mutual fund boards and advisers learn from the AXA trial ruling?" Journal of Investment Compliance 18, no. 1 (May 2, 2017): 58–62. http://dx.doi.org/10.1108/joic-02-2017-0015.

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Purpose To analyze the August 2016 court decision in Sivolella v. AXA Equitable Life Ins. Co. and its implications for cases concerning mutual fund advisory fees under Section 36(b) of the of the Investment Company Act of 1940. Design/methodology/approach Discusses Section 36(b), the plaintiffs’ arguments and the judge’s decision in favor of the mutual fund adviser. Provides insights from the judge’s analysis of the advisory fees at issue, including the independence of the mutual fund board and quality of the annual advisory contract renewal process, whether the language of the advisory and subadvisory agreements fully reflects the nature and extent of services provided, the board’s reliance on outside experts and advisers when considering the advisers’ fees and services, and continuous improvements in the boards’ annual advisory contract renewal process. Findings AXA was a decisive victory for the adviser, and serves as a reminder to boards and advisers alike that a diligent focus on board process and independence can pay twofold after litigation is filed. Practical implications Boards and advisers should consider AXA’s implications, and whether the decision raises issues that should be reviewed by independent counsel with experience advising funds and advisers with respect to the Investment Company Act. Originality/value Practical guidance from experienced financial services lawyers.
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Slezáková, Andrea. "The License To Perform The Activity Of A Finacial Advisor." Studia Commercialia Bratislavensia 12, no. 42 (December 1, 2019): 256–63. http://dx.doi.org/10.2478/stcb-2019-0022.

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Abstract Financial advisory is a business activity connected with the financial market. Financial advisors grant services to their clients in order to help them to find a proper financial product. Due to this fact and the resposibility that is linked to this kind of entrepreneurship interference from the side of the state is needed. This is given not only by the regulation, but also through supervision of financial advisors performed by the National Bank of Slovakia. The independ central bank is subject intending to start this kind of business meets all the conditions set by law. The license to perform the activity of a financial advisor is an individual administrative act, a decision of the National Bank of Slovakia, issued in the proceeding in supervisory matters pursuant to Part Three of the Act No. 747/2004 Coll. On Financial Market Supervision Amending and Supplementing Certain Acts as amended.
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Pal, Abhinav, Shalini Singh Sharma, and Kriti Priya Gupta. "The Role of Analytics and Robo-Advisory in Investors' Financial Decisions and Risk Management." International Journal of Business Analytics 8, no. 2 (April 2021): 46–62. http://dx.doi.org/10.4018/ijban.2021040104.

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The global financial world has been experiencing increasing complexities in the design and construct of financial instruments, wherein the average retail investors need to be well informed and aware of the risks about the evolution of financial products and financial system. The global financial crisis of 2008-2009 is evident to the fact that traditional methods of financial advisory involving the use of human intermediaries and financial advisors is not an infallible method to determine one's financial decision or risk management. Almost a decade since the crisis, the advancement of financial technology in the form of robo-advisors and the use of data and visual analytics have completely transformed the way the retail investors make their financial decisions and also in the sphere of risk management of these investors. The study qualitatively analyses the use of the use of analytics and robo-advisory in determining retail investors' financial decisions and risk management by doing a systematic and an exhaustive literature review on the latest and the past studies on the topic.
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Slezáková, Andrea. "Performing the Activities of the Commercial Investment Advisor in Austria and of the Financial Advisor in Slovakia." Studia Commercialia Bratislavensia 13, no. 43 (March 1, 2020): 63–72. http://dx.doi.org/10.2478/stcb-2020-0003.

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Abstract Financial advisory means providing advice concerning various financial products such as loans, insurance and investments. The commercial investment advisor and the financial advisor develop individual analyses and concepts for their clients, in the sense of a comprehensive financial planning, about the type, construction, protection, maintenance, retention and possible uses of assets and financing. They respond to the special needs of their customers. Despite these common elements, there exist important distinctions in the regulation of the commercial investment advisor in Austria and of the financial advisor in Slovakia.
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Galloway, Jackson, and Nicole Griffin. "SEC settles with adviser over failure to consider account aggregation requests in applying fee breakpoint discounts." Journal of Investment Compliance 15, no. 3 (August 26, 2014): 32–34. http://dx.doi.org/10.1108/joic-07-2014-0028.

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Purpose – To review SEC enforcement action taken against an adviser over: failure to grant advisory fee breakpoint discounts based on the aggregation of related accounts requested by clients and related deficiencies in the adviser’s administration of the account aggregation feature. Design/methodology/approach – Review and summarize the SEC’s finding’s regarding the adviser’s advisory fee breakpoint discount program, deficiencies in the program identified in SEC examinations, resulting violations of the Investment Advisers Act and its rules, the adviser’s remedial efforts and undertakings, and the sanctions imposed. Findings – This settlement provides an important reminder for registered investment advisers of the need to fully address deficiencies identified in SEC examinations and of the attention paid by SEC inspection staff to client fees as a core examination area. Originality/value – Practical explanation from experienced financial services lawyers.
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Chandani, Arti, Sriharshitha S., Ankita Bhatia, Rizwana Atiq, and Mita Mehta. "Robo-Advisory Services in India." International Journal of Cloud Applications and Computing 11, no. 4 (October 2021): 152–73. http://dx.doi.org/10.4018/ijcac.2021100109.

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The transcendence of automated digital services is challenging already established financial advisory services. Robo-advisory is gaining popularity where human touch is missing while making the investment decision. The present study is aimed to understand the awareness of robo-advisors amongst millennials in India along with their perception towards robo-advisory services. A self-administered questionnaire was sent out to the college students, and 288 college students responded to this. The responses were analysed using independent sample t-test, Anova, and factor analysis using IBM SPSS 22. The findings indicate that there is a lack of awareness about robo-advisors amongst college students. Measures should be taken by universities and colleges to include this as a part of the syllabus along with industry-academia partnership to create awareness as these students will be earning and investing in the next 1-3 years.
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Slezáková, Andrea. "Entering into the Register of Providers of Special Financial Education." Studia Commercialia Bratislavensia 12, no. 41 (June 1, 2019): 102–8. http://dx.doi.org/10.2478/stcb-2019-0010.

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Abstract Special financial education is one of the components of a professional competence. The purpose of the regulation is to provide knowledge and skills to individuals so that the minimum requirements of the law are met, given the complexity and scope of the activities performed by financial agents and financial advisors. Objective of the special financial education is to form and deepen information related to regulation in the sector in which financial intermediation or financial advisory will be carry out.
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Dissertations / Theses on the topic "Financial advisory"

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Jansen, Christian. "Excellence in financial advisory services /." Berlin : Pro Business, 2008. http://d-nb.info/990670015/04.

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CARLSON, VIKTOR. "The Value of Financial Advisory Services." Thesis, KTH, Industriell Management, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-236512.

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Financial advisory services currently face many challenges such as adapting to regulations, competing against robot advisors and offering qualitative advice. We use a utility function based on the clients' risk preferences and investigated the value added by advisory services. The data represents real clients that received financial advisory services from an advisory firm, which gives this thesis a unique accuracy. For the calculations we simulated outcomes of the portfolios and computed key values pertaining to the investors' financial positions. Our calculations show that investors on average gain corresponding 1.66 % per year in risk free return on their investments from advisory services. In addition, we show that the client's value of advisory service increased with respect to the investor's risk level and time horizon of investment.
Aktörerna inom finansiell rådgivning står för närvarande inför flera utmaningar, att anpassas efter regleringar, konkurrera mot robotrådgivare och erbjuda hög kvalitet i rådgivningen. Vi har använt en nyttofunktion baserad på kunders riskpreferenser och utrett vilket värde som finansiell rådgivning tillför. De data som använts representerar verklig kunddata från ett rådgivningsföretag, vilket ger denna studie en unik träffsäkerhet. Beräkningarna av nyckeltal för investerarnas finansiella position har gjorts genom simulering av portföljer. Våra beräkningar visar att finansiell rådgivning ger investerare i genomsnitt motsvarande 1.66 % i ökad riskfri avkastning per år efter avgifter och skatter. Dessutom vi visa att rådgivarnas tillförda värde ökar med avseende på investerarnas risknivå och tidshorisont.
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Kaiser, Marcus. "Financial services advisory individualisation and the role of customer data." Hamburg Kovač, 2008. http://d-nb.info/993077056/04.

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Buckner, Julian M. "Battle of the ‘Bulge’: A boutique offensive in M&A advisory." Scholarship @ Claremont, 2014. http://scholarship.claremont.edu/cmc_theses/826.

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This paper examines 878 mergers and acquisitions between 2003 and 2012 to investigate the impact of advisor choice on transaction performance. Differentiating between bulge bracket, boutique and mixed team advisors, this analysis uses cumulative abnormal announcement returns, purchase premiums, completion ratios, and deal durations as indicators of outcome. Using ordinary least squares and probit regressions an analysis of premium outcomes and target abnormal returns point to there being significant shareholder benefits to using boutique advisors. However, the use of boutiques significantly increases the length of the transaction, and appears to have no impact on the likelihood of a successful completion.
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Dreyer, Elizabeth. "The role of specialist advisory services within a development bank." Thesis, Stellenbosch : Stellenbosch University, 2015. http://hdl.handle.net/10019.1/97463.

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Thesis (MDF)--Stellenbosch University, 2015.
ENGLISH ABSTRACT: It is accepted that financial sector development contributes to economic growth, equality and poverty alleviation. Economic development in many developing economies is constrained by the failure of financial markets to provide appropriate financial services products to enable these economies to address structural transformation and enable sustainable economic growth. Development Finance Institutions (DFIs) have emerged as an effective institutional vehicle to provide financial services to support the development and financing needs of market segments, particularly in developing economies, which the commercial financial sector is unable or unwilling to serve. DFIs provide financing to markets with a perceived high investment risk by developing appropriately structured innovative financing solutions and risk mitigation instruments needed to address the infrastructure and development financing gaps within these economies. DFIs are able to address commercial financial market failure by providing financing to support long-term private sector investment in infrastructure, financing products that service high-risk market sectors that lack collateral and financing to support public sector efforts to provide adequate social and economic infrastructure in countries with a high-risk investment rating. Specialist advisory skills are a critical resource that DFIs deploy to identify, package and finance sustainable and bankable solutions to support transformative growth. For DFIs to operate optimally they need to implement an integrated loan approval process that enables effective investment decision-making. By deploying specialist advisory services at each stage of the investment value chain, DFIs comply with international best practice standards, package development finance solutions to meet potential clients’ needs and ensure financial sustainability. An extensive literature review on DFI practice revealed that the predominant literature on DFIs focuses on the mandate and governance relationships within these institutions. This research assignment addressed the gap in available DFI literature. The research assignment aimed to build on the available literature on DFI investment decision-making and to contribute to the body of knowledge of the DFI investment value chain. The research assignment focused on DFI operations and investment decision-making procedures and considered how DFIs deploy specialist advisory services to enhance the application of an integrated loan approval process, mitigate investment risk and enable the optimal allocation of scarce resources to enhance sustainable development. The assignment identified the various institutional approaches and methodologies DFIs adopt to utilise specialist advisory services and identified the challenges, opportunities and limitations within the process. Chapter 1 introduces the key themes addressed in the research assignment. Chapter 2 provides a literature review of DFI practice and application of best practice considerations in investment decision-making. Chapter 3 details the research methodology deployed to conclude the research assignment. Chapter 4 addresses the research findings emanating from a case study analysis of the specialist advisory services deployed by the Development Bank of Southern Africa (DBSA), the European Investment Bank (EIB) and the Land Bank of South Africa. The assignment concludes with findings and recommendations. The research assignment found that limited investigation has been conducted on the operational execution of specialist advisory services within the investment value chain. Specialist advisory services provide DFIs with a key resource to assist in assessing potential loan applications in ensuring that clients meet mandate criteria to qualify for DFI loan applications, assist in assessing whether clients meet investment standards, and ensure that financially sustainable transactions are supported. To enhance DFI practice, further research is required to unpack the various investment modules applied within the investment value chain.
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Hermansson, Cecilia. "Understanding the relationships between bank-customer relations, financial advisory services and saving behavior." Doctoral thesis, KTH, Centrum för bank och finans, Cefin, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-162909.

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While the saving environment has become more complex in recent years, so has the demand for individual activity. Important impetuses include financial deregulation, globalization, technological change, and reformed pension systems. Financial institutions can provide financial advisory services to help their customers to obtain positive net benefits by avoiding mistakes and using economies of scale, and they can also attract and maintain their customers by creating strong relationships. Earlier studies show that the incentive structure often leads to advice that is not to the benefit of the customers. In addition, not all customers seek and receive advisory services. The objective of this study is to increase our understanding of the relationship between the bank advisor – customer relation and the bank customer’s saving behavior. The scope of the study is to analyze relevant theories and develop a model that includes financial advisors as a mediator of saving behavior, and to understand the relational attributes that can affect saving behavior. Also, the characteristics of customers with a relational versus a transactional exchange form with the bank are explored. Given the problems of establishing causality, the scope is also to understand the impact of the relationship and, in particular, face-to-face advisory meetings on saving behavior. The analysis is mainly carried out with the help of customer data – both objective bank register data and subjective survey data – while the advisor characteristics are to a lesser extent part of the data material. Five studies are carried out using various methodologies, i.e., theoretical review and model development, probit and multinomial logistic regressions, difference-in-difference regression, and structural equation modelling. In addition, a case study is made analyzing dyads of customers and advisors in order to explore theoretical assumptions. Economics and relationship marketing are used to explain saving behavior with transactional, interimistic relational, and enduring relational exchange forms (Paper 1). Several major findings emerge in the quantitative analysis: First, the attributes are longer and stronger, the more relational the exchange form is (Paper 2). A second finding is that relational attributes also surface in transactional exchange, a finding that requires further research to be understood in more detail (Paper 2). Third, among relational attributes, duration and context have the largest total effects on saving behavior, while trust is a mediating variable (Paper 5). Fourth, not only demographic and socioeconomic factors can predict whether customers use the relational exchange form; psychological factors, such as saving motives and risk attitudes, are also predictors. Results are clearly different for women and men (Paper 3). Finally, financial advisory meetings are found to increase saving volumes and saving products held in stock. The largest effects are found for young customers with low wealth and low profitability to the bank, i.e., customers who initially have low activity levels and thus create a large potential (Paper 4). Limitations include endogeneity problems in general, and selection bias in particular, making it difficult to establish causality, and internal and external validity. Future research should focus on data management, especially building time series with enhanced methods to adjust for selection bias. In addition, studies to better understand the transactional exchange form are needed, as well as studies that deepen the definition of relational exchange, not least when alternative channels to face-to-face meetings include mobile banking and internet banking, and the digitalization of  the social know-how of financial advisors. Managerial implications include understanding the relational attributes that affect saving behavior, such as context, duration, and trust. Also useful to know are the factors that can help to predict the probability of a customer’s having a transactional or relational exchange form, i.e., including demographics, socioeconomics, psychology, and gender, to see how channels and customers can be better matched. Policy implications include using the model in this study to match relational attributes to the degree of financial literacy, since the risk of misselling is particularly large for relational-oriented customers with low financial literacy.
Samtidigt som sparandet har blivit mer komplext under senare år, har behovet av individens egen aktivitet ökat. Viktiga drivkrafter för denna utveckling har varit finansiell avreglering, globalisering, teknisk utveckling och reformerade pensionssystem. Finansiella institutioner kan erbjuda finansiell rådgivning för att hjälpa kunderna erhålla positiv nettonytta genom att de då kan undvika att göra vanliga misstag och kan få skalfördelar med ökad tillgång till information. Genom att skapa starka kundrelationer kan dessa institutioner också använda rådgivningen för att attrahera och behålla kunder. Tidigare studier visar att incitamentsstrukturen ofta leder till att rådgivningen missgynnar kunderna. Det är heller inte alla kunder som söker och får tillgång till rådgivning. Syftet med denna avhandling är att öka förståelsen för sambanden mellan bankkundens sparbeteende, finansiell rådgivning och relationen mellan bankrådgivaren och kunden. I avhandlingens omfång ingår att analysera teorier, utveckla en modell som inkluderar finansiella rådgivare som intermediärer till sparbeteende samt förstå de relationsattribut som kan påverka sparbeteendet. Dessutom görs jämförelser mellan kunders karaktäristika utifrån deras utbytesform. Med hänsyn tagen till svårigheterna att fastställa kausalitet ingår även att förstå hur relationen i allmänhet, och rådgivningsmöten i synnerhet, påverkar sparbeteendet. Analyser görs med hjälp av kunddata, både objektiva registerdata och subjektiva enkätdata, medan karaktäristiska för rådgivarna i mindre utsträckning finns med i datamaterialet. Fem studier utförs som använder olika metoder, såsom teoretisk genomgång och modellutveckling, probit- och multinomiala logitregressioner, ”difference-in-difference” regressioner samt struktur-ekvationsmodellering. Inledningsvis gjordes också en fallstudie som analyserade dyader av bank-kunder och rådgivare för att undersöka teoretiska antaganden. Det framkommer att national-ekonomi och relationsmarknadsföring tillsammans kan användas för att förklara sparbeteende med hjälp av tre utbytesformer (transaktion, interimistisk relation, djupgående relation) (Art. 1). Ju mer relation utbytesformen innehåller, desto längre och större är relationsattributen (Art. 2). Relations-attribut finns också representerade i transaktionsutbytet, ett resultat som kräver ytterligare forskning (Art. 2). För det tredje framkommer att bland relationsattributen är duration och kontext viktigast för att förklara sparbeteendet, följt av förtroende som är en intermediär variabel (Art. 5). För det fjärde framkommer att förutom demografiska och socioekonomiska faktorer är psykologiska faktorer, såsom sparmotiv och riskpreferenser, prediktorer för utbytesform. Resultaten är markant olika för män och kvinnor (Art. 3). Slutligen, givet endogenitetsproblem, syntes finansiella rådgivningsmöten öka sparvolymer och antal produkter som bankkunder använder. De största effekterna observeras för unga, personer med låga förmögenheter samt personer med låg lönsamhet för banken, d v s kunder som initialt har en låg aktivitetsnivå men som utgör en potential (Art. 4). Begränsningar i studierna handlar om endogenitetsproblemen i allmänhet, och selektions-svårigheter i synnerhet, vilka gör det svårt att fastställa kausalitet och vilka begränsar extern och intern validitet. Framtida forskning bör därför fokusera på datahanteringen genom att bygga upp tidsseriedata och utveckla metoder som justerar för selektionsproblem. Dessutom behöver transaktionsattributen studeras. Samtidigt är studier som fördjupar förståelsen kring relationen viktiga, inte minst som alternativa kanaler till mänskliga rådgivningsmöten – såsom mobilbank och internetbank – snabbt vinner gehör i bankerna och bland kunderna.     Avhandlingens implikationer för bankledningar inkluderar ett ramverk som kan användas för hur relationen och dess attribut påverkar sparbeteendet, såsom duration, kontext och förtroende. Vidare är det användbart att förstå de faktorer som predicerar sannolikheten att kunden har en relations- eller transaktionsutbytesform, och de inkluderar demografi, socioekonomiska faktorer, psykologi och genus, inte minst som behovet att bättre matcha kanaler med kunder ökar. För politiska beslutsfattare kan avhandlingens modell användas för att matcha relationsattribut till graden av finansiell förmåga, inte minst som risken för ”misselling” är särskilt stor för relationsorienterade kunder med låg finansiell läsförmåga.

QC 20150327

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Brink, William, and Christopher Furu. "Investigating usefulness of portfolio optimization with respect to prospect utility in financial advisory." Thesis, KTH, Matematisk statistik, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-213549.

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In this paper we derive and analyze the usefulness of a prospect theory based model for selecting optimal portfolios with respect to multiple investment goals. The focus is to determine whether or not the model would be suitable for the advisory process by investigating the result given by the optimal portfolio values and proportion in risky assets in continuous time. The model is based on the framework proposed by Berkeelar et al. [1] and De Giorgi [2] and follows a two step approach. It starts by finding the optimal terminal portfolio value for each investment goal and secondly determines the optimal initial funding for each investment goal based on the optimal terminal portfolio value. We have shown that the initial funding is monotone in the long term investment goal, in other words the investor initially puts all capital in that goal and therefore neglect remaining goals. Moreover we have shown that the model, assuming evenly distributed initial capital among investment goals, results in the investor reaching the short term goal only, for median risk profile but reaching all investment goals for the extreme loss averse profile. Lastly we also point out that the model holds very high leverage in risky assets for the median risk profile and less in risky assets when the investor is considered extreme loss averse. We conclude that this model is not suitable for the financial advisory process mainly because the median risk profile does reach her long term goal.
I det här dokumentet tar vi fram och analyserar användbarheten av en prospect theory baserad modell för att välja optimala portföljer, med avseende på flera investeringsmål. Fokus var att avgöra om modellen skulle vara lämplig för en rådgivningsprocess, genom att undersök resultatet från optimala portföljvärden och andelar i risktillgångar, för kontinuerlig tid. Vår modell är baserad på ramverket framtaget av Berkeelar et al. [1] och De Giorgi [2] och följer en tvåstegsmetod. Den börjar med att hitta det optimala terminala portföljvärdet för varje investeringsmål och för det andra bestämmer den optimala finansieringen av varje investeringsmål, baserat på det optimala terminala portföljvärdet. Vi har visat att den initiala finansieringen är monoton i det långsiktiga målet, vilket innebär att investeraren initialt allokerar allt kapital på det långsiktiga målet och därmed försummar resterande mål. Vidare har vi visat att modellen, förutsatt initialt fördelat kapital bland målen, resulterar i att investeraren endast når det kortsiktiga investeringsmålet för en median riskprofil men uppnär alla mål för extrem förlustmotvilja. Slutligen påpekar vi även att investeraren tar väldigt hög leverage när vi antar riskprofilen för en medianinvesterare och investerar mindre i risktillgångar när investeraren anses ha extrem förlusträdsla. Vi drar slutsatsen att denna modell inte är lämplig för den finansiella rådgivningsprocessen på grund av att en median riskprofil inte uppnår det långsiktiga investeringsmålet.
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Halaby, Bassim (Bassim M. ). 1960, and Qunmei 1962 Li. "Introducing fundamental changes to a service delivery model : "lessons from a financial advisory organization"." Thesis, Massachusetts Institute of Technology, 2002. http://hdl.handle.net/1721.1/8507.

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Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management, 2002.
Includes bibliographical references (leaves 104-105).
Trends change, companies grow, merge and folds, things occur at an unusually rapid pace and clients' expectations of services value and costs take new form every day. The information for this research was gathered mainly between December and April of 2002 and reflects the situation as it was that time. The biggest change of all to occur during 2001 and 2002 was the collapse of share prices in many sectors, the fall of Enron and Global Crossing, and SEC probe of the way investment banks link research to brokerage. This environment creates tremendous pressure on financial institutions to improve business operations, not through cost cutting measures, but through a critical review of the way services are delivered. Investment banks in particular, are under scrutiny to shift their strategy from product to customer centric. We identified 2 reasons behind the impetus for shifting strategies. First, the cyclical nature of the financial markets requires an unusual flexibility in deploying and folding strategic assets with minimum damage to operations. Second, the competition among financial services to attract High Net Worth Individuals keeps extending the core services offered to clients. As a result, financial services are taking high risks to change the way business is delivered in order to respond to client changing needs; the service has become driven by "clients' expectations for more and more services for less and less costs". This case study assesses how a financial services firm introduces fundamental change to the way it does business in an attempt to respond to new market pressures. The case analyzes to what extent strategy is aligned with execution and evaluates service delivery changes from the lens of the Clients, Financial Advisors, and Client Associates. The findings of the study are based on the extensive use of operation research, marketing, and management models. The use of system dynamics, service delivery, and gap models identified various factors critical for successfully implementing changes . The results of intensive field surveys offered valuable data for creating a decision support system to our recommendations.
by Bassim Halaby and Qunmei Li.
M.B.A.
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Cedrell, Linda, and Nivin Issa. "The Adoption of Robo-advisory in the Swedish Financial Technology Market : Analyzing the consumer perspective." Thesis, KTH, Industriell ekonomi och organisation (Inst.), 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-235778.

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Due to the digitalization revolution within the financial sector fintech companies are challenging the traditional banking institutes with new technologies and innovations. Robo-advisors are the new way to get personalized investment services online instead of using traditional advisory.The aim is to research the consumer adoption of robo-advisory in the Swedish financial sector. Additionally, the core emphasis throughout this thesis is on; consumers personal traits, as well as behavioral factors that impact consumers investment decision. Theories used are mostly innovation theories and behavioural theories. To investigate the aim aquantitative approach is used and a survey with 435 respondents were conducted and two probit and margin regressions was made, one for securities as the dependent variable and one for robo-advisory as the dependent variable. The results show that the adoption of robo-advisoryhas been slow in Sweden due to lack of transparency and information. Lastly, gender was the most significant factor in both regressions.
På grund av digitaliseringen inom finanssektorn utmanar fintech företagende traditionella bankinstitut en med ny teknik och nya innovationer. Robotrådgivare är det nya sättet att få personliga investeringsråd istället för att använda traditionell rådgivning. Syftet är att undersöka konsumenternas uppfattning kring robotådgivning i den svenska finans sektorn. Uppsatsen kommer baseras på konsumenternas personliga egenskaper samt beteendemässiga faktorer som påverkar konsumenternas investeringsbeslut. Teorierna som används är innovationsteorier och beteendeteorier. För att undersöka frågeställningarna har ett kvantitativt tillvägagångssättanvänts. En enkätundersökning genomfördes som resluterade i 435 respondenter. Datan från enkäten analyserades via grafer samt två probitregressioner med olika beroende variabler, värdepapper samt robotrådgivning. Resultaten visar att adoptionen av robotrådgivning har varitlångsam i Sverige på grund av bristande transparens och information. Den mest signifikanta faktorerna i båda regressionerna var kön.
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Černeckis, Gvidas, and Edvin Rogefors. "Framtidens finansiella rådgivare : Människor, robotar eller hybrider?" Thesis, Linköpings universitet, Företagsekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-150928.

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BAKGRUND: Robotrådgivning kan något förenklat definieras som en digital plattform som förser kunder med en automatiserad finansiell rådgivning. Många nya aktörer har börjat tillhandahålla robotrådgivningstjänster och robotrådgivning anses ha potential att förbättra marknaden för finansiell rådgivning. Ur ett konsumentperspektiv leder robotrådgivningen till bland annat sänkta direkta kostnader i form av lägre förvaltningsavgifter. Trots sänkta direkta kostnader och övriga konsumentfördelar har kapitalinflödet till robotrådgivningstjänster inte varit omfattande. Enligt ekonomiska teorier om transaktionskostnader, väljer köpare att inte genomföra köpet av en tjänst om uppfattade transaktionskostnader förenade med själva transaktionen upplevs för höga. Därmed är det av intresse att undersöka hur konsumenter uppfattar transaktionskostnader förenade med robotrådgivningen samt hur detta påverkar intention att använda tjänsten. SYFTE: Syftet med studien är att undersöka hur direkta kostnader respektive indirekta transaktionskostnader påverkar konsumenters intention att använda sig av robotrådgivning. Vidare är syftet att undersöka huruvida respondenter med en liknande intention att använda robotrådgivningstjänster delar några gemensamma drag. GENOMFÖRANDE: Data till studien har samlats in med hjälp av enkätundersökning. Enkäten har besvarats av 77 personer. För att analysera statistiska samband mellan de olika oberoende variablerna och den beroende variabeln intention har vi genomfört en multipel regressionsanalys. För att vidare analysera den insamlade datan och få ännu djupare insikter i hur respondenterna ställer sig i förhållande till robotrådgivningen har vi genomfört klusteranalys. SLUTSATS: Enligt vår studie har variablerna förtroende och mänsklig kontakt ett statistiskt signifikant samband med intentionen att använda robotrådgivning. Enligt klusteranalysen kan dessutom två konsumentprofiler urskiljas med utgångspunkt i intention att använda robotrådgivning. Direkta kostnader, vilka har undersökts med hjälp av variabeln kostnad, har inte visats ha något större inverkan på konsumenternas inställning till robotrådgivning, varför hybridlösningar enligt vår mening skulle kunna vara en möjlig lösning för att minska konsumenternas uppfattade transaktionskostnader och på det sättet öka intentionen att använda robotrådgivningstjänster.
BACKGROUND: Robo-advisory can be defined as a platform which provides customers with an automated financial advisory. A large number of new and already existing financial institutions have started providing robo-advisory services and robo-advisors are considered to have the potential to improve the market of financial services. Among other things, robo- advisory leads to decreased direct costs for consumers in terms of lower management fees. Despite the reduced direct costs and other consumer benefits, the capital inflow to robo- adivosory services has not been substantial yet. According to the economic theories in the field of transaction costs, a buyer is not going to conduct a purchase of a service if perceived transaction costs associated with the transaction itself are too high. Thus, it is essential to examine how consumers perceive transaction costs associated with robo-advisory and how that affects consumers intention to use robo-advisory-services. PURPOSE: The purpose of this study is to examine how direct costs and indirect transaction costs affect consumers intention to use robo-advisory. Furthermore, the purpose of this study is to examine whether consumers with a similar intention to use robo-advisory services, share any other characteristics. IMPLEMENTATION: Data for our study has been collected via survey. The survey has been answered by 77 people. To analyze possible statistical relationships between the dependent variables and the independent variable intention, we have conducted a multiple regression analysis. In order to further analyze the collected data and gain even deeper insights into how respondents stand in relation to robo-advisory, cluster analysis has been conducted. CONCLUSION: According to our results, only variables trust and human contact have a significant statistic relationship with the intention to use robo-advisory. Furthermore, by means of cluster analysis we have been able to distinguish two consumer profiles based on the dependent variable intention. Direct costs, in terms of the variable cost, have not been shown to have any substantial impact on consumers attitude towards robo-advisory. Hence, hybrid- solutions could, in our opinion, be a possible solution in order to reduce consumers perceived transaction costs, and further increase the intention to use robo-advisory.
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Books on the topic "Financial advisory"

1

Moolman, Juanita. Financial advisory and intermediary services guide. South Africa: [LexisNexis], 2010.

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Marketing financial advisory services: A hands-on guide. Englewood Cliffs, N.J: Prentice Hall, 1988.

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Commission, International Financial Institution Advisory. Report of the International Financial Institution Advisory Commission. [Washington, D.C.]: International Financial Institution Advisory Commission, 2000.

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Hart, Paula Idt. How to transition your practice to financial advisory services. Fort Worth, TX: Practitioners Pub. Co., 1999.

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Ireland. International Advisory Group on the International Financial Services Centre. Report of the International Advisory Group on the International Financial Services Centre. Dublin: Stationery Office, 1997.

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Maine. Legislature. Student Financial Aid Transition Advisory Committee. Report of the Student Financial Aid Transition Advisory Committee. Augusta, Me: The Committee, 1990.

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Ainsworth, Jim H. The CPA's guide to a successful financial planning practice: Selling financial investments and marketing advisory services. New York: Wiley, 1995.

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Ip, Yiu Lam. Design a decision support system for personal financial advisory function. [s.l: The Author], 1992.

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Tibergien, Mark C., and Owen Dahl, eds. How to Value, Buy, or Sell a Financial-Advisory Practice. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2012. http://dx.doi.org/10.1002/9781119204886.

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Roby, Michael. The ultimate small cap business: Building a financial advisory practice. Andover, MN: Expert Pub., 2008.

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Book chapters on the topic "Financial advisory"

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Cruciani, Caterina. "Behavioural Financial Advisory Practice." In Investor Decision-Making and the Role of the Financial Advisor, 129–58. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-68234-1_5.

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Krueckeberg, Sinan. "Situating Robo-Advisory." In Palgrave Studies in Financial Services Technology, 21–32. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-40818-3_2.

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Cruciani, Caterina. "Financial Advisory: Basic Roles and Functions." In Investor Decision-Making and the Role of the Financial Advisor, 67–92. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-68234-1_3.

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Cruciani, Caterina. "Financial Advisory: Normative Developments and Incentives." In Investor Decision-Making and the Role of the Financial Advisor, 93–126. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-68234-1_4.

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Jung, Dominik, Florian Glaser, and Willi Köpplin. "Robo-Advisory: Opportunities and Risks for the Future of Financial Advisory." In Contributions to Management Science, 405–27. Cham: Springer International Publishing, 2018. http://dx.doi.org/10.1007/978-3-319-95999-3_20.

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Scholz, Peter, and Michael Tertilt. "Robo-Advisory: The Rise of the Investment Machines." In Palgrave Studies in Financial Services Technology, 3–19. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-40818-3_1.

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Beck, Alexander D. "The Role of Artificial Intelligence in Robo-Advisory." In Palgrave Studies in Financial Services Technology, 227–43. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-40818-3_11.

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Sander, Madeleine. "Success Factors for Robo-Advisory: Now and Then." In Palgrave Studies in Financial Services Technology, 257–69. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-40818-3_13.

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Hammer, Christian. "Regulation of Robo-Advisory in Europe and Germany." In Palgrave Studies in Financial Services Technology, 133–60. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-40818-3_8.

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Scholz, Peter, David Grossmann, and Joachim Goldberg. "Robo Economicus? The Impact of Behavioral Biases on Robo-Advisory." In Palgrave Studies in Financial Services Technology, 53–69. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-40818-3_4.

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Conference papers on the topic "Financial advisory"

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Kilic, Mehmet, Peter Heinrich, and Gerhard Schwabe. "Coercing into Completeness in Financial Advisory Service Encounters." In CSCW '15: Computer Supported Cooperative Work and Social Computing. New York, NY, USA: ACM, 2015. http://dx.doi.org/10.1145/2675133.2675289.

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XIANG, Yi, Zhixi LI, Tsz-Ho LEE, Du TANG, Kent WU, Zhibin LEI, and Yali WANG. "Smart Wealth Management System for Robo-Advisory." In 2019 IEEE Conference on Computational Intelligence for Financial Engineering & Economics (CIFEr). IEEE, 2019. http://dx.doi.org/10.1109/cifer.2019.8759063.

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HORDY TISCHER, JACSON, and S�RGIO MURILO PETRI. "ANALYSIS OF ECONOMIC AND FINANCIAL VIABILITY: COMPARISON BETWEEN MODELS OF ACCOUNTING ADVISORY." In 15th CONTECSI International Conference on Information Systems and Technology Management. TECSI, 2018. http://dx.doi.org/10.5748/9788599693148-15contecsi/ps-5255.

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HORDY TISCHER, JACSON, and S�RGIO MURILO PETRI,. "ANALYSIS OF ECONOMIC AND FINANCIAL VIABILITY: COMPARISON BETWEEN MODELS OF ACCOUNTING ADVISORY." In 15th CONTECSI International Conference on Information Systems and Technology Management. TECSI, 2018. http://dx.doi.org/10.5748/9788599693148-15contecsi/ps-5685.

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Ruf, Christian, Andrea Back, Richard Bergmann, and Michael Schlegel. "Elicitation of Requirements for the Design of Mobile Financial Advisory Services -- Instantiation and Validation of the Requirement Data Model with a Multi-method Approach." In 2015 48th Hawaii International Conference on System Sciences (HICSS). IEEE, 2015. http://dx.doi.org/10.1109/hicss.2015.142.

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Rentková, Katarína, Ľudmila Mitková, and Vladimír Mariak. "FINANCIAL (I)LITERACY: DOES THE FINANCIAL ADVISOR HELP?" In 4th International Scientific – Business Conference LIMEN 2018 – Leadership & Management: Integrated Politics of Research and Innovations. Association of Economists and Managers of the Balkans, Belgrade, Serbia et all, 2018. http://dx.doi.org/10.31410/limen.2018.166.

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Lebedev, Pavel. "Three decades of management accounting in Russia: the evolution of understanding of management accounting concept." In Contemporary Issues in Business, Management and Economics Engineering. Vilnius Gediminas Technical University, 2019. http://dx.doi.org/10.3846/cibmee.2019.036.

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Purpose– the article explores how did management accounting concept evolve and develop in Russia during the post-Soviet era. This study is informed by the specific way of the development of management accounting in Russia and a lack of related studies. Research methodology – this is a historical study based on archival methods. Evidence was obtained from sources varying from related literature to personal field notes and reflections arising from observations and experience gained in my more than 2 decades as a consultant and educator in the field of management accounting. The analysis in this study follows an interpretive approach: a narrative analysis of evidence used the model of thematic analysis to arrive at the findings. Findings – the results of the research demonstrate that the management accounting evolution in Russia contains three distinct periods: 1990’s – transactional focus, mainly related to cost; 2000’s – management accounting as an internal advisory function; 2010’s – management accounting on its way to financial leadership. This evolution followed the same path as in the developed markets, however, the patterns of this typology in Russia were much weaker. The driving forces of the development of management accounting were different than in the environment of developed markets. The benefits of management accounting to the overall corporate success were insignificant at each of the discussed phases. Research limitations – research results could be influenced by contextual nature and subjectivity of interpretative analysis, possible incompleteness and subjective selection of archival data, limited resources for analysis and interpretation. Practical implications – the research enriches our understanding of the development of management accounting in emerging economies, and it could support decisions in the transformation of financial function along with its maturity continuum. Furthermore, this research could be used as a part of the content of programs in professional and business education. Originality/Value – there is a lack of similar studies, which makes the research a significant contribution to existing conversations in science and professional practice
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Heyman, Susanna, and Henrik Artman. "Computer Support for Financial Advisors and Their Clients." In CSCW '15: Computer Supported Cooperative Work and Social Computing. New York, NY, USA: ACM, 2015. http://dx.doi.org/10.1145/2675133.2675236.

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Ben David, Daniel, Yehezkel S. Resheff, and Talia Tron. "Explainable AI and Adoption of Financial Algorithmic Advisors." In AIES '21: AAAI/ACM Conference on AI, Ethics, and Society. New York, NY, USA: ACM, 2021. http://dx.doi.org/10.1145/3461702.3462565.

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Sebastiampillai, Joshua, Andrew Rolt, Devaiah Nalianda, Francesco Mastropierro, and Vishal Sethi. "Technical and Economic Viability of an EIS 2050 Geared Open Rotor." In ASME Turbo Expo 2019: Turbomachinery Technical Conference and Exposition. American Society of Mechanical Engineers, 2019. http://dx.doi.org/10.1115/gt2019-90290.

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Abstract The aviation sector is projected to grow rapidly over the next two decades and beyond. These projections coupled with ever more stringent environmental legislation call for action within the commercial aviation sector to radically reduce greenhouse gas emissions by 2050. It is perceived that by 2050 current state-of the-art direct-drive turbofans will have evolved into geared turbofans and geared open rotor engines for short haul missions. These changes in engine configuration may be attributed to calls from the Advisory Council for Aviation Research and innovation in Europe to dramatically reduce CO2 generation and greenhouse gas emissions by 2050. The geared open rotor architecture is predicted to significantly reduce fuel burn relative to a typical short-range year-2000 aircraft mission, and greatly reduce CO2 emissions per passenger kilometer. Although relative fuel-burn benefits have been estimated in various studies, the economic feasibility of developing the geared open rotor (GOR) engine configuration for potential manufacturers and operators has not been reported. Therefore, this paper describes methodologies employed to estimate the relative fuel burn benefit of a short-range year 2050 GOR engine-aircraft configuration. In addition, it details the financial feasibility of year-2050 short-range engine and aircraft concepts, for manufacturers and operators alike. An overview of the technical specifications of a potential ‘GOR2050’ engine configuration is provided. This paper further describes methods employed to predict the unit cost of a year-2050 engine and aircraft concept that might be offered by the manufacturers, as well as a revenue model for manufacturers in the 2050-timeframe. In order to capture the supplier–customer relationship between the OEMs and their customers, direct operating cost (DOC) and representative revenue models have been constructed for the operators. This paper also analyses the effects that potential future fuel price and taxation policies regarding emissions could have on the operational profitability of such an aircraft and engine combination. Based on a representative set of model inputs, an illustrative test-case for a year-2050 short-haul aircraft and engine combination predicts, with a 50% confidence level, that the minimum number of twin-engine aircraft sales needed to ensure the financial feasibility of the program would be 630 units. Furthermore, with a 50% confidence level, a potential operator could expect an internal rate of return over 7%. The impact of different fuel prices and taxation scenarios are quantified in terms of internal rate of return forecasts.
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Reports on the topic "Financial advisory"

1

Williams, Alicia R. Should Financial Advisors Put Your Interest First? An AARP Survey of Retail Investors About Advisor-Client Relationships and Fees. Washington, DC: AARP Research, August 2020. http://dx.doi.org/10.26419/res.00342.001.

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Egan, Mark, Gregor Matvos, and Amit Seru. The Market for Financial Adviser Misconduct. Cambridge, MA: National Bureau of Economic Research, February 2016. http://dx.doi.org/10.3386/w22050.

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Williams, Alicia R. Should Financial Advisors Put Your Interest First? An AARP Survey of Retail Investors About Advisor-Client Relationships and Fees: Annotated Questionnaire. Washington, DC: AARP Research, August 2020. http://dx.doi.org/10.26419/res.00342.002.

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