Behaviour has bigger impact on financial education than facts - research

Human emotions need to be more front of mind

Victoria McKeever
clock • 2 min read

Human behaviour and emotions have a bigger impact on financial education than "cold, hard facts", a study has found.

Research from communications experts like minds and emotional intelligence specialist The School of Life found "human behaviour" challenges needed to be addressed first by the industry in order to engage consumers on financial education. This included incorporating psychological factors through understanding how people think and feel, as well as philosophical factors, by giving real-life meaning to the concept of saving and managing money. The study detected a "general disinterest" in financial information and an inability from respondents to envisage their financial future more than ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Is being Chartered worth it? Breaking down the perennial dissensus

Is being Chartered worth it? Breaking down the perennial dissensus

‘Many non-Chartered advisers are just as competent as those who are’

Hope Coumbe
clock 10 May 2024 • 4 min read
Andrew Goodwin: Financial advice and the Evangelista effect

Andrew Goodwin: Financial advice and the Evangelista effect

'Future of advice lies in independence, approachability and affordability'

Andrew Goodwin
clock 10 May 2024 • 4 min read
Aviva integrates robotic process automation into platform capabilities

Aviva integrates robotic process automation into platform capabilities

Robotic process automation removes need for client by client process

Sahar Nazir
clock 09 May 2024 • 1 min read