MCDM modelling of purchase determinants for portfolio products recommended by financial advisors
by Yi-Hui Chiang
International Journal of Financial Markets and Derivatives (IJFMD), Vol. 6, No. 3, 2018

Abstract: Financial advising is a large industry and the portfolio decision behind the interaction and the trust between investors and advisors depends on many determinants. What are the purchase determinants on portfolio products recommended by a financial advisor (FA) when an investor makes a financial decision? Among these determinants, what matters most in their decisions? The purpose of this paper is to propose a multiple-criteria-decision-making (MCDM) model for determinants regarding portfolio products recommended by FAs from perspectives of investors in Taiwan. According to the results, respondents rank product value, client specific and FA expertise as the top three important dimensions. Among the 25 criteria studied, good performance and characteristics of products, available capital and willingness of the clients and the FA's professional judgement and recommendation are the five key factors when it comes to purchase decision for portfolio products. The results provide reference for investors, advisors and the wealth management related institutions.

Online publication date: Fri, 11-May-2018

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