Financial Advice and Household Financial Portfolios

Bibliographic Data

ID21512830
AuthorsSarah Brown (0000-0001-7699-4417, Department of Economics University of Sheffield Sheffield S1 4DT UK, corresponding author), Alessandro Bucciol (0000-0001-8163-7617, Department of Economics University of Verona Verona 37129 Italy), Alberto Montagnoli (Department of Economics University of Sheffield Sheffield S1 4DT UK), Karl Taylor (0000-0002-6525-0815, Department of Economics University of Sheffield Sheffield S1 4DT UK), Karl B Taylor (University of Sheffield)
Year2025
Volume87
Issue2
Pages382-413
Publication date2025-04-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueOxford Bulletin of Economics and Statistics (JOURNAL)
Journal identifiersISSN: 0305-9049 • E-ISSN: 1468-0084
PublisherWiley (PUBLISHER • GB)
DOI10.1111/obes.12613
OpenAlexW3090652824
LanguageEN
References cited32

We explore the demand for financial advice and the role of such advice in shaping household financial portfolios. Since taking financial advice may not be randomly allocated among households, understanding the drivers behind receiving financial advice is important before exploring the role of financial advice in shaping the composition of household portfolios. A number of specification tests are undertaken, including exploring the sensitivity of the results to selection as well matching estimation techniques. The analysis reveals that financial advice is inversely (positively) associated with the share of wealth held in real estate (bonds and stocks)

Bond · Business · Economics · Financial economics · Portfolio · Real estate · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Housing, Finance, and Neoliberalism · Finance

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Open DOIOpen Access