Financial agency across generations · Research source
Financial literacy, financial advice, and financial behavior
Oscar A. Stolper; Andreas Walter
Journal of Business Economics · 2017-03-04 · CC BY 4.0
Stolper and Walter review financial literacy, education and professional advice, supplementing the literature with German household evidence. Their review cautions that more education does not automatically produce better financial behavior and that expert advice is not a simple substitute for financial understanding. The literature covered reflects its publication period and should not be treated as a current verdict on every educational program. For families preparing women and other underrepresented members for ownership leadership, the practical objective is not to turn everyone into an investment professional. It is to build the ability to interrogate advice and recognize unresolved risk.