Main Research - Household finance and the role of financial advisors (Prof. Dr. Andreas Hackethal)

There is ample evidence that the actual investment behavior of households deviates markedly from the precepts of orthodox theory. If these deviations are due to information cost and behavioral biases there exists potential for financial advisors to increase investor utility. We analyze empirically the effect of different types of financial advisory on household investment behavior and based on our results devise new processes, tools and products that help financial services firms create more value for their clients.