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Do financial advisers influence savings behavior? / Jeremy Burke, Angela A. Hung

Author
Burke, Jeremy, 1979-
Published
Santa Monica, Calif. : Rand Corporation, [2015]
Copyright Date
©2015
Physical Description
1 online resource (iv, 23 pages).
Additional Creators
Hung, Angela A. and Labor and Population Program
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Open Access Unrestricted online access
Contents
Preface -- 1. Introduction -- 2. Who receives advice? -- 3. Do advisers influence clients' savings behaviors? -- 4. Other benefits to professional financial advice -- 5. Who saves for retirement? -- 6. Impacts of workplace retirement seminars -- 7. Summary -- References.
Summary
"Financial advisers can play an important role with helping individuals make better financial decisions and improving their financial situations. In this report, the authors review evidence from the research literature about whether working with an adviser improves savings behavior, in general, as well as saving for long-term goals, particularly retirement. While much of the literature provides evidence that individuals who receive professional financial advice are more financially healthy than those who do not, few papers attempt to address the endogeneity concerns of reverse causation, limiting insights into whether advisers are causing improvements in their clients' savings behavior"--Publisher's description.
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Genre(s)
ISBN
0833093878 (electronic bk.)
9780833093875 (electronic bk.)
Note
"Prepared for the Department of Labor."
Bibliography Note
Includes bibliographical references (pages 19-23).
View MARC record | catkey: 27973778