Retail Client’s Satisfaction With Investment Advice. Is MiFID II a Desired Regulation?
Retail Client’s Satisfaction With Investment Advice. Is MiFID II a Desired Regulation?
Author(s): Mariusz Kicia, Rafał MudaSubject(s): Social Sciences, Business Economy / Management
Published by: Wydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu Warszawskiego
Keywords: MiFID II; investment advisor; retail investor; investment recommendation; client’s satisfaction
Summary/Abstract: The aim of the study was to investigate whether investment advisors’ procedures of servicing evolve to meet MiFID II Directive requirements. Using a mystery client procedure adopted from the Synovate (2011) research, 51 datasets and 58 datasets were collected in 2016 and 2017. No statistical differences between annual results were found in procedures of collecting necessary information. Advisors were generally perceived to be clear in providing recommendations. Almost all clients were satisfied with such service. The results provide a general profile of a satisfied client as a person looking for transparent and clear information on investment alternatives provided by a professional in terms of collecting detailed but only necessary data.
Journal: Problemy Zarządzania
- Issue Year: 16/2018
- Issue No: 2 (74)
- Page Range: 131-142
- Page Count: 12
- Language: English, Polish