Professional Financial Advice and Subjective Well-Being

Arjen Schepen, Martijn J. Burger*

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

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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 languageEnglish
Pages (from-to)2967-3004
Number of pages38
JournalApplied research in quality of life
Volume17
Issue number5
DOIs
Publication statusE-pub ahead of print - 30 Mar 2022

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Publisher Copyright: © 2022, The Author(s).

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