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The Value of Financial Advice in a Crisis: A Multidisciplinary Literature Review Cover

The Value of Financial Advice in a Crisis: A Multidisciplinary Literature Review

Open Access
|Mar 2024

Abstract

The COVID-19 crisis presents an opportunity for the financial advice sector to demonstrate its importance. This paper examines literature from multiple disciplines to better understand the nature of a crisis, the role that expert advisers play and the value of advice to clients during a crisis. The literature demonstrates the multidimensional nature of a crisis, the need for a sophisticated approach to client-professional relationships and the positive impact of professional financial advice on wellbeing during and beyond a crisis. The findings motivate further research to establish a more detailed framework for understanding the value of financial advice.

DOI: https://doi.org/10.2478/fprj-2021-0004 | Journal eISSN: 2206-1355 | Journal ISSN: 2206-1347
Language: English
Page range: 65 - 87
Published on: Mar 15, 2024
In partnership with: Paradigm Publishing Services
Publication frequency: 2 issues per year

© 2024 Ellana Loy, Karen Wildman, Kirsten MacDonald, Mark Brimble, published by Financial Advice Association of Australia
This work is licensed under the Creative Commons Attribution 4.0 License.