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Retail Client’s Satisfaction With Investment Advice. Is MiFID II a Desired Regulation? (Zadowolenie klienta indywidualnego z doradztwa inwestycyjnego. Czy Dyrektywa MiFID II to potrzebne rozwiazanie?)

Author

Listed:
  • Mariusz Kicia

    (Department of Banking, Faculty of Economics, Maria Curie-Sklodowska University in Lublin)

  • Rafal Muda

    (Department of Banking, Faculty of Economics, Maria Curie-Sklodowska University)

Abstract

The aim of the study was to investigate whether investment advisors’ procedures of servicing evolve to meet MiFID II Directive requirements. Using a mystery client procedure adopted from the Synovate (2011) research, 51 datasets and 58 datasets were collected in 2016 and 2017. No statistical differences between annual results were found in procedures of collecting necessary information. Advisors were generally perceived to be clear in providing recommendations. Almost all clients were satisfied with such service. The results provide a general profile of a satisfied client as a person looking for transparent and clear information on investment alternatives provided by a professional in terms of collecting detailed but only necessary data.

Suggested Citation

  • Mariusz Kicia & Rafal Muda, 2018. "Retail Client’s Satisfaction With Investment Advice. Is MiFID II a Desired Regulation? (Zadowolenie klienta indywidualnego z doradztwa inwestycyjnego. Czy Dyrektywa MiFID II to potrzebne rozwiazanie?)," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 16(74), pages 131-142.
    • Handle: RePEc:sgm:pzwzuw:v:16:i:74:y:2018:p:131-142
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    More about this item

    Keywords

    MiFID II; investment advisor; retail investor; investment recommendation; client’s satisfaction;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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