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Trust in financial advice
Jönköping University, Jönköping International Business School, JIBS, Business Administration.
Jönköping University, Jönköping International Business School, JIBS, Business Administration.
2015 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesisAlternative title
Förtroende inom finansiell rådgivning (Swedish)
Abstract [en]

Abstract

Problem

Advising on financial products and services is considered to be important for customers because it has an impact on customers’ financial future. The risk involved in financial services makes customers feel uncertain as wrong decisions can cause serious economic losses. Retirement savings is a concrete example of a financial service affecting customers in the future. For customers to get an idea and understanding about retirement savings, it requires advice from professional advisors that customers can rely on. Therefore the aim of this thesis is to examine the potential gap of differences that might exist between advisers and customers, regarding how trust is created concerning advising on retirement savings.

Purpose:

The purpose of this study is to identify what differences might exist in the customers’ versus advisers’ opinions, on how the trust is created between the banker and the customer regarding retirement savings.

Method:

The method used in this study is a qualitative method. The study was done by eight interviews. The interviews were conducted with six customers and two of Handelsbanken's advisors. This made it possible for us to gain insight into two different perspectives, and therefore we were able to draw conclusions on possible similarities and differences.

Conclusion:

The study highlights that customers have a need for continuous contact with the financial advisors. This is a crucial factor in creating trust in a long-term relationship between the customer and the bank. The results indicate a clear difference between the experience of how trust is created regarding the communication between advisors and customers. Customers felt that their banks fail to provide them with sufficient information about updates of the progress regarding their retirement savings. Furthermore, customers felt that it was up to them to take the initiative to keep themselves updated regarding their retirement savings. The financial advisers, on the other hand did not appear to perceive the communication as a potential issue in the trust building process.

Place, publisher, year, edition, pages
2015.
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:hj:diva-27348ISRN: JU-IHH-FÖA-2-20150104OAI: oai:DiVA.org:hj-27348DiVA: diva2:823925
Subject / course
IHH, Business Administration
Examiners
Available from: 2015-07-30 Created: 2015-06-18 Last updated: 2015-07-30Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
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Language
  • de-DE
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Output format
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