Addressing Barriers To Accessing Financial Advice: Identifying Benefits Through Process Improvements

PhD by Publication


Neilson, Ben. 2024. Addressing Barriers To Accessing Financial Advice: Identifying Benefits Through Process Improvements. PhD by Publication Doctor of Professional Studies . University of Southern Queensland. https://doi.org/10.26192/zqyq1
Title

Addressing Barriers To Accessing Financial Advice: Identifying Benefits Through Process Improvements

TypePhD by Publication
AuthorsNeilson, Ben
Supervisor
1. FirstLujer Santacruz
2. SecondA/Pr Abdul Hafeez-Baig
Institution of OriginUniversity of Southern Queensland
Qualification NameDoctor of Professional Studies
Number of Pages156
Year2024
PublisherUniversity of Southern Queensland
Place of PublicationAustralia
Digital Object Identifier (DOI)https://doi.org/10.26192/zqyq1
Abstract

Financial advice plays a critical role in enhancing financial literacy, resilience, and decision-making capabilities. However, increasing barriers to accessing financial advice in Australia pose significant challenges for consumers and sector professionals. This thesis identifies these barriers and offers actionable solutions to enhance accessibility in professional practice. The research findings specifically outline innovative methods to reduce the costs of accessing financial advice, as well as reducing the time required for its delivery, while improving accuracy and regulatory adherence. By addressing the gap in scholarly research on the Australian financial planning sector, the thesis contributes to a deeper understanding of operational challenges in financial advice delivery. Through a mixed-methods approach, including semi-structured interviews, quantitative analysis, and literature review, key barriers are identified, and their impact measured using tailored assessment tools. The findings provide valuable insights into the current state of financial services in Australia and offer practical strategies to reduce barriers, streamline processes, and improve efficiency, with significant implications for government policy and professional practice aimed at enhancing access to financial advice.

KeywordsFinancial Planning; Statement of Advice; Education; Artificial Intelligence
Related Output
Has partProgress towards Recognised Professional Status: The Australian Financial Planning Landscape in 2022
Has partArtificial Intelligence Authoring Financial Recommendations: Comparative Australian Evidence
Has partRevising data collection methodology - evidence from the Australian financial sector
Has partInvestigating the impact financial content structure has on consumer appreciation: An empirical study of Australian statement of advice documents
Has partInvestigating the relationship between processes and profit: A work-based assessment of process used in Australian financial planning firms
Has partIdentifying the properties and impact of education on misconduct: Evidence from Australian financial advisers
Contains Sensitive ContentDoes not contain sensitive content
ANZSRC Field of Research 20203599. Other commerce, management, tourism and services
Public Notes

File reproduced in accordance with the copyright policy of the publisher/author/creator.

Byline AffiliationsSchool of Business
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Related outputs

Progress towards Recognised Professional Status: The Australian Financial Planning Landscape in 2022
Neilson, Ben. 2022. "Progress towards Recognised Professional Status: The Australian Financial Planning Landscape in 2022 ." International Journal of Economics and Financial Issues. 12 (5), pp. 21-28. https://doi.org/10.32479/ijefi.13377