book
Decreto Número 409 de 1971 (Marzo 27): Por el cual se introducen reformas al código de procedimiento penal y se codifican todas sus normas
Fecha
2020Registro en:
9789587845174
SIMEHEBOOK6F9CG2BHF7AAHJ81298H
Autor
Sintura Varela, Francisco Jose
Bernate-Ochoa, Francisco
Institución
Resumen
Investment advisory is a professional activity typical of the stock market, which has high relevance and growing interest, given its ability to contribute to the protection of investors and the development of financial markets. Various studies have shown that adequate advice can improve financial choices, having long-term positive effects on the value and stability of investment portfolios (see Montmarquette & Viennot-Briot, 2015; Moreland, 2018; Winchester, Huston & Finke , 2011) .This activity takes on greater relevance in an increasingly globalized, interconnected and volatile environment, in which interest in financial products is increasing hand in hand with higher income levels and better financial education of the population. population, particularly in developing economies. This generates the need to strengthen the mechanisms so that the inhabitants can make adequate decisions regarding their resources, especially if they are non-professional investors. In this sense, new trends such as the so-called behavioral finance (Behavioral Finance) are now joining traditional approaches to carry out more precise advisory processes, allowing to raise the quality of customer profiling and product convenience analyzes. . In this way, the recommendations generated will be relevant in relation to the interests and particular needs of each client. In order to contribute to the development of advisory work in Colombia, the Securities Market Self-regulator -AMV- and the Universidad del Rosario present this document for review and reflection, which is divided into four parts. In the first, a normative context of advice in the Colombian market is carried out, analyzing the main aspects of Decree 661 of 2018 in relation to the profiling of financial products, the profiling of clients, the analysis of convenience and investment recommendations. The second part delves into client profiling techniques, from traditional financial theory and from the focus of behavioral finance. The third part deals with developing the convenience analysis based on behavioral elements that reflect the psychological and emotional profiles of investor clients. Finally, in the fourth part some considerations are given, by way of conclusion.