Tabea Bucher?Koenen|Andreas Hackethal|Johannes Koenen|Christine Laudenbach
Do Seemingly Smarter Consumers Get Better Advice?
Max Planck Institute for Social Law and Social Policy|Max Planck Society|Centre for European Economic Research|Leibniz Institute for Financial Research SAFE|Goethe University Frankfurt|Goethe Institute|Goethe University Frankfurt
based data gathered 27000 realworld meetings financial advisors clients large german bank show advisors offer selfserving advice women men likely receive sales fee rebates less likely recommended expensive bankowned funds additional client advisor surveys provide evidence consistent statistical discrimination based gender proxy client financial sophistication female clients exhibiting lower literacy confidence price sensitivity moreover female advisors report less confidence professional skills engage less discrimination male colleagues