Latest / Weekly Working Paper Digest - Market Micro Structure/Retail Trading
Deep Dive: Financial Advice and Retirement Savings
Got something to say to this podcast? Send a voicemail, and you might hear yourself on the next episode!
Financial advice from bank advisors significantly increases client participation in tax-exempt retirement accounts, with the probability of opening such an account rising by more than twenty times the base rate. This shift is driven by the tax advantages of these accounts, which make them more profitable for clients than alternative investments, while also generating higher fees for the bank. The evidence indicates a win-win outcome where clients improve their retirement preparation…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.