Determinants of Client-Professional Relationship Quality in the Financial Planning Setting
Advice provided by financial planners has the potential to impact the financial and emotional well being ofclients. Despite the outcomes of quality financial planning relationships, there is little direct evidence tosupport the importance of ‘relationship quality’ in financial planning. Previous res...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Wollongong
2011-06-01
|
| Series: | Australasian Accounting, Business and Finance Journal |
| Subjects: | |
| Online Access: | http://ro.uow.edu.au/aabfj/vol5/iss2/6 |
| _version_ | 1819274896366108672 |
|---|---|
| author | Katherine Hunt Mark Brimble Brett Freudenberg |
| author_facet | Katherine Hunt Mark Brimble Brett Freudenberg |
| author_sort | Katherine Hunt |
| collection | DOAJ |
| description | Advice provided by financial planners has the potential to impact the financial and emotional well being ofclients. Despite the outcomes of quality financial planning relationships, there is little direct evidence tosupport the importance of ‘relationship quality’ in financial planning. Previous research has emphasised theimportance of relationship quality in psychology, nursing, and business settings. This research investigatesdeterminants of client-professional relationship quality in financial planning, measured in a survey of clientsand financial planners regarding relationship factors of trust, engagement, empowerment, ownership, clientactivity and commitment. Ratings for relationship dimensions were compared between clients and financialplanners, with financial planners found to overestimate their clients’ levels of trust and commitment andunderestimate their client’s levels of empowerment. The relationship dimension of ‘trust’ was found to becritical for client-professional relationship quality. |
| first_indexed | 2024-12-23T23:15:43Z |
| format | Article |
| id | doaj.art-263dd951d243478ca2dec30053949149 |
| institution | Directory Open Access Journal |
| issn | 1834-2000 1834-2019 |
| language | English |
| last_indexed | 2024-12-23T23:15:43Z |
| publishDate | 2011-06-01 |
| publisher | University of Wollongong |
| record_format | Article |
| series | Australasian Accounting, Business and Finance Journal |
| spelling | doaj.art-263dd951d243478ca2dec300539491492022-12-21T17:26:31ZengUniversity of WollongongAustralasian Accounting, Business and Finance Journal1834-20001834-20192011-06-01526999Determinants of Client-Professional Relationship Quality in the Financial Planning SettingKatherine HuntMark BrimbleBrett FreudenbergAdvice provided by financial planners has the potential to impact the financial and emotional well being ofclients. Despite the outcomes of quality financial planning relationships, there is little direct evidence tosupport the importance of ‘relationship quality’ in financial planning. Previous research has emphasised theimportance of relationship quality in psychology, nursing, and business settings. This research investigatesdeterminants of client-professional relationship quality in financial planning, measured in a survey of clientsand financial planners regarding relationship factors of trust, engagement, empowerment, ownership, clientactivity and commitment. Ratings for relationship dimensions were compared between clients and financialplanners, with financial planners found to overestimate their clients’ levels of trust and commitment andunderestimate their client’s levels of empowerment. The relationship dimension of ‘trust’ was found to becritical for client-professional relationship quality.http://ro.uow.edu.au/aabfj/vol5/iss2/6Financial PlanningRelationshipsEthicsTrustBusiness RelationshipsRelationship Quality |
| spellingShingle | Katherine Hunt Mark Brimble Brett Freudenberg Determinants of Client-Professional Relationship Quality in the Financial Planning Setting Australasian Accounting, Business and Finance Journal Financial Planning Relationships Ethics Trust Business Relationships Relationship Quality |
| title | Determinants of Client-Professional Relationship Quality in the Financial Planning Setting |
| title_full | Determinants of Client-Professional Relationship Quality in the Financial Planning Setting |
| title_fullStr | Determinants of Client-Professional Relationship Quality in the Financial Planning Setting |
| title_full_unstemmed | Determinants of Client-Professional Relationship Quality in the Financial Planning Setting |
| title_short | Determinants of Client-Professional Relationship Quality in the Financial Planning Setting |
| title_sort | determinants of client professional relationship quality in the financial planning setting |
| topic | Financial Planning Relationships Ethics Trust Business Relationships Relationship Quality |
| url | http://ro.uow.edu.au/aabfj/vol5/iss2/6 |
| work_keys_str_mv | AT katherinehunt determinantsofclientprofessionalrelationshipqualityinthefinancialplanningsetting AT markbrimble determinantsofclientprofessionalrelationshipqualityinthefinancialplanningsetting AT brettfreudenberg determinantsofclientprofessionalrelationshipqualityinthefinancialplanningsetting |