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THE FUTURE OF FINANCIAL ADVICE

Dhama, Jon (2022) THE FUTURE OF FINANCIAL ADVICE. [MRP]

Item Type: MRP
Creators: Dhama, Jon
Abstract:

In recent years, few industries have seen the magnitude of change that is currently being observed in the financial services sector. Financial advisors have faced challenges with the way they conduct their practices and many are being forced to adapt to the changes shaping the new world of financial advice. Despite this, it remains clear that financial advice is a positive thing for many Canadians. Investors that receive financial advice from a dedicated advisor are approximately four times better off financially than those who don’t. Yet, there remains a significant perception issue with financial advice. In a recent study by JD Power, just 19% of retail bank customers say they are ‘very interested’ in receiving advice and 26% say they are ‘not at all interested’. This research will explore potential causes for this perception gap through the lens of trust and use elements of Strategic Foresight to make recommendations to arm the next generation of financial advisors and wealth management firms with options to deliver desirable future value propositions to Canadians.

Date: 25 January 2022
Divisions: Graduate Studies > Strategic Foresight and Innovation
Date Deposited: 25 Jan 2022 18:29
Last Modified: 25 Jan 2022 18:29
URI: http://openresearch.ocadu.ca/id/eprint/3569

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