Nöjda kunder med risken i fokus
En studie i hur finansiell risk bör förmedlas
During the last decades major changes has occurred at the financial markets, meaning an increasing supply and a greater variation of financial instruments. The saving habits of the Swedish people have gone from traditional bank deposits to investments in equities, funds and bonds. All this together with the great rise in the stock market at the late 90?s has brought words like risk and return up-to-date, and is the background to the development of a new law concerning financial advising which come into force the 1th of July 2004. The contents of the thesis can be described as three bricks, representing the survey questions. The thesis starts with descriptions of which risk- and return concepts that exists and which are used by the contemporary financial institutions. Further on, the thesis deals with the individuals? perception of risk, in particular financial risk. To end with, details regarding how a message should be conveyed are given. The three bricks together fulfil the purpose of the thesis; To investigate how the meaning of financial risk in a simple and pedagogical way can be explained to a person not familiar with financial literature, and to develop questions that facilitate when an individuals risk profile is ascertained. We have found that standard deviation is the risk concept that dominates in financial theory, and together with Value at Risk is the most common used in practise. Good knowledge about risk is required when explaining risk. It is important to describe the information in an attractive way and use examples and illustrations. For financial advisers it also is important to have knowledge about the human behaviour, because ascertain the clients risk profile is an important part of the risk explanation. A clients risk profile is best ascertain with so called open questions where both what the clients answer and how he or she answer can form the basis for the judgement.