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Identifying the properties and impact of education on misconduct: Evidence from Australian financial advisers

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  • Neilson, Ben Oakley
  • Lee, Steven J.

Abstract

The Australian financial planning sector has seen recent regulatory changes introduced to address misconduct. One such introduction surrounds increased levels of mandatory financial adviser education. This paper examines the Banning orders between March 2015 and March 2023 to identify relationships between levels of misconduct and education. Analysis of findings supports the validation of education requirements and outlines identifying properties assisting consumer decisions to avoid those advisers affiliated with misconduct. This research further explores avenues to develop the sector’s professionalism.

Suggested Citation

  • Neilson, Ben Oakley & Lee, Steven J., 2024. "Identifying the properties and impact of education on misconduct: Evidence from Australian financial advisers," International Journal of Educational Development, Elsevier, vol. 105(C).
    • Handle: RePEc:eee:injoed:v:105:y:2024:i:c:s0738059323002523
    DOI: 10.1016/j.ijedudev.2023.102976
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    References listed on IDEAS

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    More about this item

    Keywords

    Financial adviser misconduct; Regulation; Higher education;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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