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What is the Impact of Financial Advisors on Retirement Portfolio Choices and Outcomes?
16 references·4 citing·36 second hop
What is the Impact of Financial Advisors on Retirement Portfolio Choices and Outcomes? (2012)What is the Impact of Financial Advisors …Financial Literacy and Planning: Implications for Retirement Wellbeing (2011)Financial Literacy and Planni…Debt Literacy, Financial Experiences, and Overindebtedness (2009)Debt Literacy, Financial Expe…Assessing the Costs and Benefits of Brokers in the Mutual Fund Industry (2009)Assessing the Costs and Benef…Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth (2007)Baby Boomer retirement securi…Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets (2006)Shrouded Attributes, Consumer…Household Finance (2006)Household FinanceOut of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows* (2005)Out of Sight, Out of Mind: Th…The Determinants of the Flow of Funds of Managed Portfolios: Mutual Funds vs. Pension Funds (2002)The Determinants of the Flow …The Power of Suggestion: Inertia in 401(k) Participation and Savings Behavior (2001)The Power of Suggestion: Iner…Costly Search and Mutual Fund Flows (1998)Costly Search and Mutual Fund…Risk Taking by Mutual Funds as a Response to Incentives (1997)Risk Taking by Mutual Funds a…On Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…Education and Saving: The Long-Term Effects of High School Financial Curriculum Mandates (1997)Education and Saving: The Lon…Another Puzzle: The Growth in Actively Managed Mutual Funds (1996)Another Puzzle: The Growth in…Consumer Reaction to Measures of Poor Quality: Evidence from the Mutual Fund Industry (1992)Consumer Reaction to Measures…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Market for Conflicted Advice (2016)The Market for Conflicted Adv…Do Financial Advisors Provide Tangible Benefits for Investors? Evidence from Tax-Motivated Mutual Fund Flows (2016)Do Financial Advisors Provide…Impacts of Conflicts of Interest in the Financial Services Industry (2015)Impacts of Conflicts of Inter…Asset management in public DB and non-DB Pension Plans (2015)Asset management in public DB…The effect of bonus schemes on accounting decisions (1985)Aggregation and Linearity in the Provision of Intertemporal Incentives (1987)Managerial Incentive Problems: A Dynamic Perspective (1999)The Geography of Investment: Informed Trading and Asset Prices (2001)Mutual Fund Flows and Performance in Rational Markets (2004)Asset Fire Sales (and Purchases) in Equity Markets (2005)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Mutual Fund Performance: An Empirical Decomposition into Stock‐Picking Talent, Style, Transactions Costs, and Expenses (2000)Luck versus Skill in the Cross‐Section of Mutual Fund Returns (2010)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Household Financial Management: The Connection between Knowledge and Behavior (2003)Planning and Financial Literacy: How Do Women Fare? (2008)Cognitive Ability and Portfolio Choice (2010)Financial literacy and retirement planning in the United States (2011)THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964 (1968)Herding and Feedback Trading by Institutional and Individual Investors (1999)A model of price adjustment (1971)Discrete Choice Theory of Product Differentiation (1992)Investor Inattention and Friday Earnings Announcements (2009)Psychology and Economics: Evidence from the Field (2009)Salience and Taxation: Theory and Evidence (2009)Judgment under Uncertainty: Heuristics and Biases (1975)The Framing of Decisions and the Psychology of Choice (1981)Prospect theory: An analysis of decision under risk (1988)Doing It Now or Later (1999)Maps of Bounded Rationality: Psychology for Behavioral Economics (2003)The Economic Importance of Financial Literacy: Theory and Evidence (2014)Trusting the Stock Market (2005)Multifactor Explanations of Asset Pricing Anomalies (1996)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)Financial Literacy and Stock Market Participation (2007)Measuring Financial Literacy (2009)
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References

  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1998Costly Search and Mutual Fund Flows3,217 cited
  • 2001The Power of Suggestion: Inertia in 401(k) Participation and Savings Behavior2,732 cited
  • 2006Household Finance2,391 cited
  • 1997Risk Taking by Mutual Funds as a Response to Incentives2,295 cited
  • 2007Baby Boomer retirement security: The roles of planning, financial literacy, and housing wealth2,143 cited
  • 1996Another Puzzle: The Growth in Actively Managed Mutual Funds2,093 cited
  • 2006Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets1,431 cited
  • 2011Financial Literacy and Planning: Implications for Retirement Wellbeing1,301 cited
  • 1992Consumer Reaction to Measures of Poor Quality: Evidence from the Mutual Fund Industry1,065 cited
  • 2009Debt Literacy, Financial Experiences, and Overindebtedness837 cited
  • 2005Out of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows*800 cited
  • 2002The Determinants of the Flow of Funds of Managed Portfolios: Mutual Funds vs. Pension Funds795 cited
  • 1997Education and Saving: The Long-Term Effects of High School Financial Curriculum Mandates

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793 cited
  • 2009Assessing the Costs and Benefits of Brokers in the Mutual Fund Industry604 cited
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    • 2016The Market for Conflicted Advice29 cited
    • 2016Do Financial Advisors Provide Tangible Benefits for Investors? Evidence from Tax-Motivated Mutual Fund Flows27 cited
    • 2015Impacts of Conflicts of Interest in the Financial Services Industry22 cited
    • 2015Asset management in public DB and non-DB Pension Plans18 cited