The Value of Financial Advice in a Crisis: A Multidisciplinary Literature Review

Loy Ellana (), Wildman Karen, MacDonald Kirsten and Brimble Mark
Additional contact information
Loy Ellana: Griffith University, Department of Accounting, Finance and Economics, Griffith Business School, Brisbane, Australia
Wildman Karen: Griffith University, Brisbane, Australia
MacDonald Kirsten: Griffith University, Brisbane, Australia
Brimble Mark: Griffith University, Brisbane, Australia

Financial Planning Research Journal, 2021, vol. 7, issue 1, 65-87

Abstract: The COVID-19 crisis presents an opportunity for the financial advice sector to demonstrate its importance. This paper examines literature from multiple disciplines to better understand the nature of a crisis, the role that expert advisers play and the value of advice to clients during a crisis. The literature demonstrates the multidimensional nature of a crisis, the need for a sophisticated approach to client-professional relationships and the positive impact of professional financial advice on wellbeing during and beyond a crisis. The findings motivate further research to establish a more detailed framework for understanding the value of financial advice.

Keywords: Value of financial advice; crisis intervention; client-adviser relationship; wellbeing; COVID-19 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/fprj-2021-0004 (text/html)

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:vrs:finprj:v:7:y:2021:i:1:p:65-87:n:1004

DOI: 10.2478/fprj-2021-0004

Access Statistics for this article

Financial Planning Research Journal is currently edited by Mark Brimble

More articles in Financial Planning Research Journal from Sciendo
Bibliographic data for series maintained by Peter Golla ().