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Characteristics of Trust in Personal Financial Planning

Author

Listed:
  • Cull Michelle

    (Western Sydney University, Sydney, Australia)

  • Sloan Terry

    (School of Business, Western Sydney University, Sydney, Australia)

Abstract

This Australian study utilises quantitative and qualitative research planning. Affective characteristics of trust were found to be essential to the client-adviser relationship. Increased legislation and specific behavioural and technical competencies of advisers were also found to build consumer trust in financial advice. The study’s results provide guidance to financial advisers with regards to the skills and factors that build and maintain trust with clients. This may lead some advisers to engage in additional training or education programs to improve specific skills, or to reconsider the way they interact with clients.

Suggested Citation

  • Cull Michelle & Sloan Terry, 2016. "Characteristics of Trust in Personal Financial Planning," Financial Planning Research Journal, Sciendo, vol. 2(1), pages 12-35.
    • Handle: RePEc:vrs:finprj:v:2:y:2016:i:1:p:12-35:n:1001
    DOI: 10.2478/fprj-2016-0001
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    References listed on IDEAS

    as
    1. Chieh-Peng Lin & Shwu-Chuan Chen & Chou-Kang Chiu & Wan-Yu Lee, 2011. "Understanding Purchase Intention During Product-Harm Crises: Moderating Effects of Perceived Corporate Ability and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 102(3), pages 455-471, September.
    2. Katherine J. Stewart, 2003. "Trust Transfer on the World Wide Web," Organization Science, INFORMS, vol. 14(1), pages 5-17, February.
    3. Johnson, Devon & Grayson, Kent, 2005. "Cognitive and affective trust in service relationships," Journal of Business Research, Elsevier, vol. 58(4), pages 500-507, April.
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    More about this item

    Keywords

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    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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