Clark, Gordon L., Fiaschetti, Maurizio and Gerrans, Paul (2019) 'Determinants of advice seeking within defined contribution retirement savings schemes.' Accounting and Finance, 59 (S1). pp. 563-591.
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Abstract
We report results from a study of superannuation member advice-seeking within their plan, explaining observed patterns by member age, gender, issue salience, and size-of-bet effect. Inquiry mode, frequency and volume of contact with the advice-provider, and sensitivity of members to legislative change and macroeconomic events are considered. Results show that gender (female more likely than male), age (older rather than younger), balance (larger rather than smaller) and experience (longer rather than shorter), are the strongest advice-seeking predictors, consistent over time. Findings suggest member engagement around retirement planning may be more effective when considering the factors affecting advice-seeking behaviour in general.
| Item Type: | Journal Article |
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| Keywords: | Financial advice; Superannuation and Retirement savings; Behaviour and behavioural decision making, Retirement planning; Gender differences |
| SOAS Departments & Centres: | Departments and Subunits > School of Finance & Management |
| Subjects: | H Social Sciences > HG Finance |
| ISSN: | 08105391 |
| Copyright Statement: | © 2018 Accounting and Finance Association of Australia and New Zealand. This is the version of the article accepted for publication in Accounting and Finance published by Wiley: https://doi.org/10.1111/acfi.12397 |
| DOI (Digital Object Identifier): | https://doi.org/10.1111/acfi.12397 |
| Date Deposited: | 28 Aug 2018 08:27 |
| URI: | https://eprints.soas.ac.uk/id/eprint/26341 |
| Funders: | Other |
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