Abstract
The authors study two characteristics found to be associated with reduced financial advisor misconduct: gender and professional designations. Their findings suggest that consumer guidelines are helpful in avoiding adverse advisor experiences. These guidelines can be especially valuable given the advisory market’s absence of clear, uniform standards to assess financial advisory professionals. The authors find that female advisors are statistically less likely to engage in misconduct. In addition, they find that female advisors with a Certified Financial Planner (CFP) or Chartered Financial Consultant (ChFC) designation are less likely to exhibit disclosed misconduct as compared to male and female advisors who have at least one of the CFP, ChFC, or Chartered Financial Analyst designations. Their findings offer another powerful reason why attracting women to the industry is important and why advanced financial planning training may improve consumer outcomes.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
