Designing Evidence-Based Communication for Elderly Consumers in Financial Distress

Project team:

Dr Cäzilia Loibl, Research Fellow, Centre for Decision Research

Prof Wandi Bruine de Bruin, Professor, Centre for Decision Research

Dr Barbara Summers, Senior Lecturer, Centre for Decision Research

Overall project goal:

An improved understanding of effective designs of financial planning communications for European consumers at risk of poverty in older age.

Specific project goals:

To achieve this goal, Dr. Loibl and her collaborators at Leeds University Business School are pursuing four objectives:

  1. Characterize expert knowledge about the financial risks and challenges elderly consumers face in making decisions about asset decumulation, debt management and financial planning strategies.
  2. Characterize elderly consumers' beliefs and challenges they perceive in making decisions about asset decumulation, debt management and financial planning strategies.
  3. Determine how the beliefs and challenges elderly consumers face in asset decumulation, debt management and financial planning strategies are associated with their financial decisions and experienced outcomes.
  4. Develop recommendations for regulators, the financial advising industry, and consumer advocacy groups about how to facilitate elderly consumers' decisions about decumulation, debt management and financial planning strategies.

This research was supported by a Marie Curie International Incoming Fellowship within the 7th European Community Framework Programme.

Project website of the European Commission:

http://cordis.europa.eu/projects/rcn/107483_en.html

Contact:

Cäzilia Loibl, Ph.D., Certified Financial Planner™
Marie Curie Fellow, Leeds University Business School, UK
Associate Professor, The Ohio State University, USA
GM.24 Maurice Keyworth Building, Centre for Decision Research
Leeds University Business School, Leeds, LS2 9JT, U.K.
Phone: 07508 440969
Email: loibl.3@osu.edu