From knowledge to investment: financial literacy´s impact on client acquisition in wealth management services

Detalhes bibliográficos
Ano de defesa: 2024
Autor(a) principal: Barboza, Rafaella Predebon Pereira
Orientador(a): Alejandro, Thomas Brashear
Banca de defesa: Não Informado pela instituição
Tipo de documento: Dissertação
Tipo de acesso: Acesso aberto
Idioma: eng
Instituição de defesa: Não Informado pela instituição
Programa de Pós-Graduação: Não Informado pela instituição
Departamento: Não Informado pela instituição
País: Não Informado pela instituição
Palavras-chave em Português:
Educação financeira
Gestão de patrimônio
Aquisição de clientes
Consultores financeiros
Palavras-chave em Inglês:
Financial literacy
Wealth management services
Client acquisition
Financial advisors
Link de acesso: https://hdl.handle.net/10438/35651
Resumo: This thesis explores the impact of financial literacy on prospective clients' decisions to engage in wealth management services and identifies strategies for wealth management firms to attract clients. The study addresses how a lack of financial literacy creates challenges for advisors and firms, influencing client acquisition. A quantitative research approach was employed, involving two questionnaires: one administered to a general American population via Google Forms, and the other to financial advisors. Pearson’s correlation test revealed a significant positive association between financial literacy and engagement in wealth management services, indicating that higher financial literacy correlates with greater involvement in these services. Results highlight the importance of financial literacy in empowering individuals to manage financial tasks and make informed decisions about their financial futures. Advisors reported that clients' low financial literacy and reliance on heuristics, such as the availability and representativeness heuristics, often hinder effective financial decision-making. Conversely, financially literate individuals tend to make more informed choices, manage budgets efficiently, and address debt proactively. These findings emphasize the need for wealth management firms to implement educational strategies that enhance clients' financial literacy, ultimately improving client acquisition and engagement in wealth management services.

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