Location decisions of domestic and foreign-affiliated financial advisors: Australian evidence

Faff, Robert, Lodh, Tribeni and Pawada, Jerry (2012) Location decisions of domestic and foreign-affiliated financial advisors: Australian evidence. Journal of Financial Services Research, 42 3: 207-228. doi:10.1007/s10693-011-0123-x

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Author Faff, Robert
Lodh, Tribeni
Pawada, Jerry
Title Location decisions of domestic and foreign-affiliated financial advisors: Australian evidence
Journal name Journal of Financial Services Research   Check publisher's open access policy
ISSN 0920-8550
1573-0735
Publication date 2012-12
Year available 2011
Sub-type Article (original research)
DOI 10.1007/s10693-011-0123-x
Volume 42
Issue 3
Start page 207
End page 228
Total pages 22
Place of publication Secaucus, NJ, U.S.A.
Publisher Springer
Collection year 2013
Language eng
Formatted abstract
We examine two views of the location choice of newly qualified personal financial advisors that recommend fund managers to retail investors. In one, sources of investment pools are the determinants of the location choice of financial advisors (the ‘source of funds’ hypothesis). In the other, investment advisors learn from and mimic the location of competing industries (the ‘knowledge spill-over’ hypothesis). We also investigate whether ownership structures, such as institutional and foreign affiliation, affect the location choices of advisors. Overall, advisor location is determined by considerations for the profitability of an area as a source of both investment funds and potential information spillovers from competitors. Institutional affiliation may result in differences in the set of relevant location choice factors, but does not detract from our main findings.
Keyword Financial advisors
Location decisions
Australia
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ
Additional Notes Published online 28 December 2011.

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2013 Collection
UQ Business School Publications
 
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Created: Thu, 10 May 2012, 09:07:52 EST by Karen Morgan on behalf of UQ Business School