Financial education and asset allocation

Authors

  • Steven D. Dolvin College of Business Administration, Butler University
  • William K. Templeton College of Business Administration, Butler University

DOI:

https://doi.org/10.61190/fsr.v15i2.4852

Keywords:

Financial education, 401(k) plan, Retirement planning, Asset allocation

Abstract

We conduct a clinical study on a firm that restructures its 401(k) plan and simultaneously·offers financial education seminars to its employees. The restructuring requires each employee to restate allocation percentages, thus we are able to analyze the specific benefits of retirement planning seminars on the asset allocation decision. We find that seminar attendance is associated with increased portfolio diversification and improved risk management. When combined with changes in return, the overall result is that seminar attendees create more efficient portfolios, which implies a better understanding of the retirement planning process.

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Published

2006-06-30

Issue

Vol. 15 No. 2 (2006): FSR Summer 2006

Section

New Original Submission

License

Copyright (c) 2006 Academy of Financial Services

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Author(s) retain copyright and grant the Journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial 4.0 International License that allows to share the work with an acknowledgment of the work's authorship and initial publication in this Journal.

This license allows the author to remix, tweak, and build upon the original work non-commercially. The new work(s) must be non-commercial and acknowledge the original work.

How to Cite

Financial education and asset allocation. (2006). Financial Services Review, 15(2), 133-149. https://doi.org/10.61190/fsr.v15i2.4852