Vlaev, Ivo, Nieboer, Jeroen, Martin, Steve and Dolan, Paul (2015) How behavioural science can improve financial advice services. Journal of Financial Services Marketing, 20 (1). pp. 74-88. doi:10.1057/fsm.2015.1 ISSN 1363-0539.

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Abstract

Evidence from the behavioural sciences, notably economics and psychology, has profoundly changed the way policymakers and practitioners view expert advice to consumers. In this article, we take stock of the behavioural science evidence on financial advice and explore its implications for the profession. We organise the evidence in a comprehensive theoretical framework that also serves a practical purpose: the design of behaviour change interventions. We suggest various ways in which financial advisers can use the insights from behavioural science to improve the take-up and effectiveness of their advice. Finally, we discuss ethical and practical considerations for the financial advisor wishing to put behavioural science knowledge to use.

Item Type:	Journal Article
Divisions:	Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School
Journal or Publication Title:	Journal of Financial Services Marketing
Publisher:	Palgrave Macmillan Ltd.
ISSN:	1363-0539
Official Date:	25 March 2015
Dates:	Date Event 25 March 2015 Published
Volume:	20
Number:	1
Page Range:	pp. 74-88
DOI:	10.1057/fsm.2015.1
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access

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