Why Do Mutual Fund Investors Employ Financial Advisors?

The goal of this study is to bring some degree of closure to the question of why mutual fund investors employ financial advisors. The basic reasons for investor utilization of financial advisors must involve aspects of 1) basic ignorance of fund investing, and thus the additional costs they pay, or...

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Bibliographic Details
Published in:Journal of Investing 2008-12, Vol.17 (4), p.91-94
Main Author: Haslem, John A
Format: Article
Language:English
Subjects:
Administrative expenses
Advisors
Arbitrage
Cost control
Data analysis
Distribution costs
Equity funds
Financial analysis
Financial planners
Investors
Load
Market timing
Mutual funds
Rating services
Rationality
Scandals
Studies
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Summary:The goal of this study is to bring some degree of closure to the question of why mutual fund investors employ financial advisors. The basic reasons for investor utilization of financial advisors must involve aspects of 1) basic ignorance of fund investing, and thus the additional costs they pay, or 2) knowledge of fund investing but with overriding considerations that compensate for the higher costs, such as convenience. [PUBLICATION ABSTRACT]
ISSN:1068-0896
2168-8613
DOI:10.3905/JOI.2008.17.4.091