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Is Unbiased Financial Advice to Retail Investors Sufficient? Answers from a Large Field Study

Utpal Bhattacharya, Andreas Hackethal, Simon Kaesler, Benjamin Loos and Steffen Meyer.

in The Review of Financial Studies

April 2012; p ublished online January 2012 .

Journal Article. Subjects: Household Behaviour and Family Economics; Economics; Investment Banking; Financial Regulation. 22909 words.

Working with one of the largest brokerages in Germany, we record what happens when unbiased investment advice is offered to a random set of approximately 8,000 active retail customers out...

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