Professional Financial Advice and Subjective Well-Being

Arjen Schepen; Martijn J. Burger

doi:10.1007/s11482-022-10049-9

Professional Financial Advice and Subjective Well-Being

Arjen Schepen, Martijn J. Burger^*

^*Corresponding author for this work

Applied Economics

Research output: Contribution to journal › Article › Academic › peer-review

6 Citations (Scopus)

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Abstract

In this paper, we examine the relationship between professional financial advice (PFA) and subjective well-being (SWB). Utilizing the Dutch Household Survey 1995–2018, we find that regarding a professional financial advisor as most important source of financial advice is associated with higher levels of SWB. This association is stronger for households that experienced an increase in income, individuals who do not consider themselves financially knowledgeable, and individuals that have a weaker internal locus of control and have a lower degree of conscientiousness.

Original language	English
Pages (from-to)	2967-3004
Number of pages	38
Journal	Applied research in quality of life
Volume	17
Issue number	5
Early online date	30 Mar 2022
DOIs	https://doi.org/10.1007/s11482-022-10049-9
Publication status	Published - Oct 2022

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Professional Financial Advice and Subjective Well-Being

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