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Sheraton Uptown, Albuquerque, NM, USA
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Saturday, April 22 • 1:30pm - 3:00pm
B1D-Changes in Household Net Financial Assets After the Great Recession: Did Financial Planners And Other Financial Advisors Make a Difference?

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This study focuses on studying the relationship between use of financial planners and other financial advisors before and after the Great Recession and the changes in household net financial assets following the Great Recession using the 2007-2009 panels of the Survey of Consumer Finances (SCF) dataset. Use of financial planners was divided into four groups: (1) continue to use a financial planner, (2) start to use a financial planner, (3) discontinue to use a financial planner, and (4) never use a financial planner. We examine whether households who utilized the services of a financial planner did better preserving and increasing the value of their net financial assets after the Great Recession when compared with the net financial assets of households who did not seek the services of a financial planner. We also examine whether households who utilized the services of financial planners did better preserving and increasing the value of their net financial assets after the Great Recession when compared with the net financial assets of households who used other financial advisors such as bankers, brokers, insurance agents, accountants, and lawyers after controlling for a number of socioeconomic, demographic, and behavioral factors affecting the financial assets of households.

Speakers & Presenters
LP

Lance Palmer, PhD, CFP

Associate Professor, University of Georgia
SC

Swarn Chatterjee

Associate Professor, University of Georgia
JW

Joseph W. Goetz

Associate Professor, University of Georgia
avatar for Aman Sunder

Aman Sunder

Ph.D Student, University of Georgia
LZ

Lini Zhang

Ph.D. Candidate, University of Georgia


Saturday April 22, 2017 1:30pm - 3:00pm
Ivory

Attendees (7)