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Observes that, although ethnicity is an important issue in consumer behaviour, it has received relatively little attention in the UK. Indicates that there are considerable variations in occupational and personal pension scheme membership between different ethnic groups. Notes that financial institutions appear to be unaware of these differences and have made few attempts to explore the financial needs of diverse ethnic groups. Discusses some of the ways in which financial institutions could meet the needs of the Asian market for pensions.

This paper researches the professionalization of financial planning in Australia. The authors investigate how the institutional logic of major institutions inhibits this occupation from moving toward a professional status.

The study uses documentary analysis of government inquiries into Australian financial services from 1997 to 2017 to ascertain the various institutional logics relating to the professionalization of financial planning. The method involves generating ideas from the data and applying an institutional logic framework to make sense of impediments to the professionalization of financial planning in Australia.

The regulator adopted a self-regulation logic that empowered financial institutions to govern financial advice. These financial institutions have a logic of profit maximization that creates conflicts of interest in financial planning. The financial planning professional bodies adopted a logic of attracting and retaining members due to a competitive professional environment. Thus, financial planners have not been defined as fiduciaries, professional standards have not increased and an ineffective disciplinary resolution system exists.

This research illustrates the various institutional logics that need to be addressed to professionalize financial planning in Australia. However, the data used is limited to that drawn from the parliamentary inquiries.

Prior research on the emergence of professions such as accounting has shown that financial institutions are sites of professionalization. This research shows that financial institutions impede professionalization in financial planning. Also, where the state granted legitimacy to other professions, this research indicates that the state regulator's logic of self-regulation has not legitimized financial planning.

This is targeted at the “soft dollar” industry. It explores to difficult “dos” and “don'ts” of compliance policies and procedures. It is a practical “Q&A” discussion of the many gray areas of legal compliance.

Despite speculation from legislators and practitioners, no studies have investigated the reasons for social funds’ marginal market penetration. More generally, calls for a greater understanding of investors’ motivations, needs and purchasing intentions have not been met. By identifying what attracts consumers to social mutual funds and the information-processing difficulties consumers face when considering a purchase, this paper claims to make a meaningful contribution to the literature on social investment and mutual funds. In 2004 an Internet questionnaire survey attracted 382 interested, current and former social investors from Australasia, North America and Europe. The questionnaire measured motivations to invest in social funds and attitudes towards information sources and selection criteria. A restricted data set was used to test a set of propositions relating to respondents’ investment intentions and information asymmetries. Results were largely as expected. Respondents were attracted to social funds from moral conviction and from desires to influence corporate behavior. One in two respondents had chosen not to invest on the basis of informational concerns. Unexpectedly, social investment styles, portfolio listings and perceived accuracy of information were considered more important to an investment decision than management expenses. Findings underline a need for careful product design and management.

This paper considers the meaning of the term ‘compliant competent life assurance companies’, within the current regulatory regime. It defines the terms of competence and compliance in the context of the change of emphasis from individual to corporate compliance competence. It recognises the importance of the introduction of competence within the financial sector and especially the role of the training and competence scheme for individuals, introduced after the Financial Services Act 1986. It considers the Financial Services Authority’s (FSA’s) more expansive interpretation of compliance competence in the context of life assurance companies, following the creation of the single regulator that aims to achieve the stated objectives of the Financial Services and Markets Act (FSMA) 2000. It reviews and critically analyses key issues associated with the FSA’s move towards an ethical framework for financial services.

This study aims to propose an integrated view and emphasize the importance of bank intangible value binding in customers' robo-advisory adoption. It explores the relationship between robo-advisors and traditional banking and defines the role of bank intangible assets value. It also attempts to understand if trust in the banking institution and the financial consultant determines the effect of these relationships.

The target sample of the study was investors who currently use wealth management services. This study collected 228 valid questionnaires and then executed structural equation model analysis to test the hypotheses.

Results showed that intangible value bindings play a mediating role, which positively affects consumers' willingness to adopt robo-advisors. Consumers' trust in banks and financial consultants are antecedent variables, which positively affect the intangible value bindings between consumers and banks. In addition, when the consumers' investment amount is higher, it will weaken the positive relationship between the intangible value binding and robo-advisor adoption intention.

Most of the past studies have focused on whether robo-advisors would replace personal financial consultants. This study proposes a hybrid model that contains both robo-advisors and traditional banking services, which encourage the acceptance of robo-advisors.

This research set out to examine how financial advice provided by a human advisor (vs robo-advisor) influences investment intentions in a retail banking context.

In two experiments, between-subjects experimental designs were employed to test the primary hypothesis and identify the underlying causal mechanisms that influence consumer investment decisions.

The results from two experiments indicate consumers have more belief in financial advice provided by a human financial advisor (vs robo-advisor), when the level of involvement is high. The authors also identify customer belief in the information and the customer's perception of the bank's “customer focus” as the causal mechanisms that have downstream effects on investment intentions.

This research is the first to examine how financial advice received from a human advisor (vs robo-advisor) influences investment intentions in a retail banking context. Furthermore, this research identifies high involvement as a key boundary condition moderating the effects on investment intention and identifies consumer belief in the advice, as well as the bank's perceived level of customer focus as the causal mechanisms influencing investment intentions.

The purpose of this paper is to examine the impact of customer participation on role behaviors and customer satisfaction. The mediating role of role stressors is also examined.

Based on literature reviews, a survey of 317 bank customers was conducted in Central China, using a structured questionnaire. Structural equation modeling was used for data analysis to test research hypotheses.

The current work found that the inconsistency between the role expectations from participating customers and service providers would increase the customer perceived role stress. Therefore, customer participating width and depth can affect customer satisfaction in two different ways. On the one hand, role stressors (i.e. role ambiguity and role conflict) in customer participation have a negative effect on customer compliance, decreasing customer satisfaction. On the other hand, role stressors have a positive effect on customer creativity, increasing customer satisfaction.

No prior studies, thus far, have examined how customer perceived role stressors in service participation affect customers’ role performance and satisfaction in the service process. The current research identifies the characteristics of customer participation from the perspectives of task role set. On the basis of role stressor theory, this research examines the effects of customer participation width and depth on customer satisfaction using customer perceived role stressors as mediating variables. This research also investigates the mixed effect of role stressors on customer satisfaction. It provides empirical support for the role of customers as “co-creators” by distinguishing customers’ creative behaviors from customer compliance and finds the positive effect of role stressors on customer satisfaction via customer creativity.