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

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Loy, Ellana
Wildman, Karen
MacDonald, Kirsten
Brimble, Mark
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2021
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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.

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Financial Planning Research Journal

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7

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1

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© 2021 Griffith University. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.

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Banking, finance and investment

Household finance and financial literacy

Investment and risk management

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Loy, E; Wildman, K; MacDonald, K; Brimble, M, The Value of Financial Advice in a Crisis: A Multidisciplinary Literature Review, Financial Planning Research Journal, 2021, 7 (1), pp. 1-23

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