To fee or not to fee
Pricing policies in financial counseling
DOI:
https://doi.org/10.61190/fsr.v19i4.4987Keywords:
Pricing, Financial advisor, Financial counselingAbstract
Pricing represents a key variable in the financial advisory industry. For this reason we investigate the possibility of identifying the type of advisory provided by making use of a pricing policy that advisors adopt in the United States and Italy. The prevalence of 'opaque' forms of compensation leads us to identify which variables are able to predict the pricing policies (transparent or opaque) of a financial advisor. Results suggest that they are related to: the advisor's regulatory status (independent advisor or tied agent), the presence of certification issued by independent authorities, the involvement in a financial products distribution process and the high or low frequency of the payments that are due for the advisory service.
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