Financial Advisors Role in Influencing Investment Decisions-An Empirical Study

Shaikh, Arif; Deshpande, Shrirang; Attar, Abdulkayyum

doi:10.22552/jijmr/2019/v5/i1/182299

Cited by 3 publications

(1 citation statement)

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“…In this context, individuals utilizing wealth advisors are associated with an increased level of planning activities, awareness, and confidence (Salter et al, 2010). For financial planning activity, wealth advisors help individuals manage their cash inflows and develop plans to reduce debt, improving their solvency according to (Shaikh et al, 2019). However, individuals who participate in financial planning activities should consider factors of fees charged, services offered, and ethical standards when availing of the services by wealth advisors.…”

Section: Literature Reviewmentioning

confidence: 99%

Retirement Savings Plan through Tax Incentives: Insights View of Wealth Advisors

Ismail,

Norwani,

Suriati Ahmad

et al. 2024

IJARBSS

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Having financial knowledge and skills is crucial to enhance financial well-being and make prudent financial choices for future financial needs. All these can be accomplished by equipping individuals with the necessary assistance to manage their savings and expenditures effectively, make prudent investments, and borrow responsibly according their financial goal. The main objective of this study is to examine how wealth advisor employs tax benefits to promote retirement savings plan. For the purpose of this study, only tax benefits section has been analyzed where one open-ended question that was asked respondents to give their viewpoints on the roles played by wealth advisors on promoting retirement savings. Then, the open-ended responses were divided according to the appropriate theme to answer the research objectives. Based on thematic analysis, the main findings of study found mixed roles served by wealth advisors for boosting retirement savings using tax benefits. Furthermore, the study revealed that tax benefits were perceived as playing a crucial role in strategically planning a client's personal taxes by employing a suitable approach to minimize their final tax liability. Based on the results, possessing an understanding of tax laws and regulations, as well as being familiar with investment products that offer tax advantages, is the most crucial factor in promoting and sustaining a retirement savings plan. This implies that having knowledge of taxation among wealth advisors may incentivize them to provide responsible advice on how individuals should save for retirement.

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Section: Literature Reviewmentioning

confidence: 99%

Retirement Savings Plan through Tax Incentives: Insights View of Wealth Advisors

Ismail,

Norwani,

Suriati Ahmad

et al. 2024

IJARBSS

View full text Add to dashboard Cite

show abstract

A survey of finance management system

Jagdale,

Jagtap,

Patil

et al. 2024

AIP Conference Proceedings

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Financial Literacy Practices on the Investment Decisions of Accounting Professionals in Makati City

2024

CJBIS

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Financial literacy provides individuals with the means to assess the potential risks linked with various investment options enabling investors to make educated decisions. Therefore, the objective of this research is to identify the financial literacy practices adopted by accounting professionals and determine the level of influence of these financial literacy practices on the investment decisions of the respondents. This research applied a quantitative research methodology with convenient selection of participants. The respondents consisted of Eighty (80) accounting professionals of selected firms in Makati City. A self-made survey questionnaire was utilized in gathering data on the demographics of respondents and the degree to which financial literacy practices influenced their investment decisions. Thus, the data collected from the survey questionnaire underwent analysis and interpretation utilizing interval data measurement on a Four-point Likert scale. The findings of this research highlighted that there exist a statistically significant correlation between budgeting (r=0.924, p=0.001), saving and investing (r=0.970, p<0.001), and debt management (r=0.919, p=0.001) on investment decisions of accounting professionals. Notably, saving and investing as financial literacy practices can be positively associated with investment decisions. When budgeting, it is crucial to assess whether significant purchases align with your needs and fit within your financial capabilities. Thus, the fact that the respondents tend to prioritize avoiding new debts emphasizes how important it is to manage debts responsibly when making investment decisions.

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Financial Advisors Role in Influencing Investment Decisions-An Empirical Study

Cited by 3 publications

References 0 publications

Retirement Savings Plan through Tax Incentives: Insights View of Wealth Advisors

Retirement Savings Plan through Tax Incentives: Insights View of Wealth Advisors

A survey of finance management system

Financial Literacy Practices on the Investment Decisions of Accounting Professionals in Makati City

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