Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 31, 2022 erstellt
Beschreibung:
In an experiment with 567 subjects from the general population and financial professionals, we introduce a novel matching procedure to assign advisors to clients. The matching is based on measures for risk-return attitudes and a risk bearing capacity. The results show that similarity between clients and advisors in the risk measures is the desired mechanism by clients, increases the delegation probability of investment decisions, and overall client satisfaction. Advisors are both willing and able to incorporate clients' risk attitudes in investment decisions on the clients' behalf and do not misreport their risk attitudes to be paired with more clients