Evaluating the investment performance of Japanese households: A comparison between professional financial advice and free financial advice.

ABSTRACT: Technological advancements have given rise to various sources of financial advice, prompting an investigation into how professional and free financial advice influence investment performance. Research lacks clarity on the impact of professional services on investment performance and overlooks the potential of free financial advice. This study, analyzing data from Rakuten Securities, a leading online-based security company in Japan, finds that investors prefer free financial advice from sources such as social media, mass media, personal networks, and individual decision-making. Regression analysis reveals that investors utilizing free financial advice from their account-holding securities company, social media, mass media, and personal networks show better investment performance than those

SUBMITTER: Kadoya Y 

PROVIDER: S-EPMC11808502 | biostudies-literature | 2025 Feb

REPOSITORIES: biostudies-literature