Determinants of Client-Professional Relationship Quality in the Financial Planning Setting | Zendy

Katherine Hunt | Zendy; Mark Brimble | Zendy; Brett Freudenberg | Zendy

AI Assistant Blog Pricing

Home ZAIA Blog

Open Access

Determinants of Client-Professional Relationship Quality in the Financial Planning Setting

Author(s) -

Katherine Hunt,

Mark Brimble,

Brett Freudenberg

Publication year - 2011

Publication title -

ssrn electronic journal

Language(s) - English

Resource type - Journals

ISSN - 1556-5068

DOI - 10.2139/ssrn.1867907

Subject(s) - quality (philosophy) , empowerment , finance , financial plan , business , positive relationship , dimension (graph theory) , psychology , marketing , social psychology , economics , economic growth , philosophy , epistemology , mathematics , pure mathematics

Advice provided by financial planners has the potential to impact the financial and emotional well being of clients. Despite the outcomes of quality financial planning relationships, there is little direct evidence to support the importance of ‘relationship quality’ in financial planning. Previous research has emphasised the importance of relationship quality in psychology, nursing, and business settings. This research investigates determinants of client-professional relationship quality in financial planning, measured in a survey of clients and financial planners regarding relationship factors of trust, engagement, empowerment, ownership, client activity and commitment. Ratings for relationship dimensions were compared between clients and financial planners, with financial planners found to overestimate their clients’ levels of trust and commitment and underestimate their client’s levels of empowerment. The relationship dimension of ‘trust’ was found to be critical for client-professional relationship quality.

The content you want is available to Zendy users.

Already have an account? Click here to sign in.

Having issues? You can contact us here

Accelerating Research