Research into customer satisfaction of advisory services provided by financial service providers (FSPs) indicates a history of problems that originated well before the current financial crisis. As part of a research program into the design of advisory processes and supporting IT tools, we conducted a survey of affluent Swiss investors that was focused on their information search behavior when prepar-ing to make an investment decision. Results show that advisory services are used at a later stage in the investment decision process, after Internet-based professional sources, media and personal contacts. In order for advisory services to become a preferred information source amongst customers, FSPs need to increase their accessibility, raise their level of perceived trust, and enhance the customer’s access to a diverse range of trusted information sources in the advisory process.
Nussbaumer, Philipp; Matter, Inu Sarah; Slembek, Ingrid; and Schwabe, Gerhard, "INFORMATION SEARCH BEHAVIOR OF INVESTORS AND THE ROLE OF ADVISORY SERVICES" (2011). ECIS 2011 Proceedings. 46.