Changes in Household Net Financial Assets After the Great Recession: Did Financial Planners Make a Difference?

Joseph W. Goetz, Lance Palmer, Lini Zhang and Swarnankur Chatterjee

Papers from arXiv.org

Abstract: This study utilized the 2007-2009 Survey of Consumer Finances (SCF) panel dataset to examine the impact of financial planner use on household net financial asset level during the Great recession. Data included 3,862 respondents who completed the SCF survey and a follow up interview. The results indicated that starting to use a financial planner during the Great Recession had a positive impact on preserving and increasing the value of households' net financial assets, while curtailing the use of a financial planner during this time had a negative impact on preserving the value of households' financial assets. Thus, study findings indicated that the benefit of using a financial planner maybe particularly high during a major financial downturn.

Date: 2020-06
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://arxiv.org/pdf/2006.00949 Latest version (application/pdf)

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:arx:papers:2006.00949

Access Statistics for this paper

More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators ().