Gender perspectives of financial advisors and selected determinants of trust in the South African Financial Planning Environment

Abstract

The focus of this research is on gender perspectives of financial advisors on the importance of professional and personal trust determinants in South Africa. When it comes to choosing a financial advisor, trustworthiness has been found to be the most crucial component in the advisor-client relationship. Clients may not be prepared to discuss the information required or be honest about the information they share with advisor(s) if trust is lacking in the financial advisor-client relationship. Previous studies have been based on trust from the client's perspective. The study was quantitative in nature and sent through an email link to all active members of the South African professional body. Three hundred and sixty-four completed questionnaires were returned. The female group was much less experienced as a whole, and they ranked following the process, as more critical than that of the male group, who rated level of experience as the most crucial factor. Individual antecedents were found to be superior in establishing a relationship of trust.