Dissertation/Thesis Abstract

Exploring the Relationship Between Financial Advisor Emotional Intelligence and Perceived Client Relationship Markers
by McCarthy, Alexandria N., Psy.D., Capella University, 2020, 145; 28029307
Abstract (Summary)

Whether it is making ends meet daily, creating a holistic wealth plan, or investing for retirement, research shows that many individuals express anxiety toward making money decisions. While technology is rapidly advancing, research indicates that investment decisions are driven by feelings and impulses. Recognizing these limitations, many investors seek guidance from a financial advisor to act as both a behavioral coach and a trusted resource to help them meet their financial goals. Findings from scholarly research suggest that higher levels of emotional intelligence and social competencies can have a positive impact on professional relationships such as the one that exists between financial advisors and their clients. The purpose of this quantitative, nonexperimental, correlational design study was to understand the relationship between the emotional intelligence level of a financial advisor and its impact on perceived client relationship markers, as defined by social competence, client referrals, and retention. The sample consisted of active financial advisors, and 124 participants completed the survey. The results demonstrate a statistically significant relationship between emotional intelligence and client referrals and social competence. These significant findings shed further light on the theoretical and practical utility of the construct of emotional intelligence and social learning theory within financial services. The practical implications of this study include bringing concepts from the field of human behavior into the financial services industry to develop programs that help financial advisors utilize emotional intelligence and social competence skills to connect with clients and build relationships, which may ultimately improve client financial well-being and willingness to refer.

Indexing (document details)
Advisor: Melvin, Ann
Commitee: Carey, Veronica, Everson, R. Blaine
School: Capella University
Department: School of Counseling and Human Services
School Location: United States -- Minnesota
Source: DAI-A 82/2(E), Dissertation Abstracts International
Source Type: DISSERTATION
Subjects: Counseling Psychology, Finance, Behavioral psychology
Keywords: Behavioral biases, Emotional intelligence, Emotions in investing, Money stress, Social competencies, Well-being
Publication Number: 28029307
ISBN: 9798662590175
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