Individual Investors' Needs and the Investment Professional: Lessons from Marketing

12 Pages Posted: 27 Nov 2007 Last revised: 16 Nov 2015

See all articles by Arvid O. I. Hoffmann

Arvid O. I. Hoffmann

University of Adelaide - Business School

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The behavioral finance literature argues that investors may care about more than risk and returns. Investing may offer expressive benefits such as status and feelings of social responsibility as well as utilitarian benefits such as low risk in combination with high returns. Different investors like stocks for different reasons as they try to satisfy different needs with investments. This empirical study examines the different needs that investors aim to satisfy by investing. The investment survey resulted in a fine-grained distinction between these different needs and showed important differences between female and male investors, between younger and older investors, and between less knowledgeable and experienced investors and more knowledgeable and experienced investors.

Keywords: Behavioral Finance, Investment Consultants, Investment Professionals, Marketing Investors' Needs

JEL Classification: G11

Suggested Citation

Hoffmann, Arvid O. I., Individual Investors' Needs and the Investment Professional: Lessons from Marketing. Journal of Investment Consulting, Vol. 8, No. 2, pp. 80-91, Summer 2007. Available at SSRN:

Arvid O. I. Hoffmann (Contact Author)

University of Adelaide - Business School ( email )

10 Pulteney Street
Adelaide, South Australia 5005

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