Welcome to the Academy of Financial Service’s 2019 Annual Meeting being held in Minneapolis, Minnesota in conjunction with FPA’s Annual Conference 2019. This is the full agenda for AFS. For details on FPA items, visit their Full Schedule. Please report any errors to support@academyfinancial.org.
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Tuesday, October 15 • 9:00am - 9:50am
A3a Does Willingness to Take Risk Mediate the Role of a Financial Planner When Clients Make Portfolio Allocation Decisions?

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This study was designed to obtain a better understanding of an investor’s portfolio choices by examining the mediation effect of the use of a financial planner on the willingness to take risks. The dataset used in this study was the 2016 wave of the Survey of Consumer Finances (SCF). To determine the association among the variables, a logistic regression and Ordinary Least Squares (OLS) regression models were developed. Study results indicated that those who are more willing to take risks tend to use the services of a financial planner and tend to hold a larger proportion of stock assets in their portfolios (as a percentage of overall financial assets). However, with regard to holding risky assets, findings suggest that the effect of willingness to take risks is reduced somewhat when an investor’s use of the services of a financial planner is accounted for.

Author(s): Danah Jeong


Danah Jeong

Student, University of Georgia

Tuesday October 15, 2019 9:00am - 9:50am CDT
202 AB