Professional Financial Advice and Subjective Well-Being

Arjen Schepen and Martijn Burger
Additional contact information
Arjen Schepen: Erasmus University Rotterdam

Applied Research in Quality of Life, 2022, vol. 17, issue 5, No 25, 2967-3004

Abstract: Abstract In this paper, we examine the relationship between professional financial advice (PFA) and subjective well-being (SWB). Utilizing the Dutch Household Survey 1995–2018, we find that regarding a professional financial advisor as most important source of financial advice is associated with higher levels of SWB. This association is stronger for households that experienced an increase in income, individuals who do not consider themselves financially knowledgeable, and individuals that have a weaker internal locus of control and have a lower degree of conscientiousness.

Keywords: Subjective well-being; Happiness; Financial well-being; Financial advice; Financial services; Service research (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://link.springer.com/10.1007/s11482-022-10049-9 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:ariqol:v:17:y:2022:i:5:d:10.1007_s11482-022-10049-9

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/11482

DOI: 10.1007/s11482-022-10049-9

Access Statistics for this article

Applied Research in Quality of Life is currently edited by Daniel Shek

More articles in Applied Research in Quality of Life from Springer, International Society for Quality-of-Life Studies
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().