<p>Bakgrund: Konsumenterna har ökat sina investeringar i finansiella instrument men kunskapen om dessa inte har ökat i samma takt. En del människor har inte varit medvetna om de risker som ett sparande i denna form innebär, utan har med förskräckelse sett sina sparade pengar försvinna när börsen gått dåligt. För att stärka konsumenternas ställning samt säkerhetsställa kvaliteten på bankers och fondbolags rådgivning infördes Lagen om finansiell rådgivning den första juli 2004. De viktigaste följderna av lagen är att nu får bara utbildade rådgivare ge råd till kunderna.</p><p>Syfte: Syftet med denna uppsats är att beskriva de förändringar och det förändringsarbete som lagen medfört för FöreningsSparbanken, samt utreda lagens påverkan på privatrådgivarna. Dessa tillsammans ska hjälpa till att besvara frågan hur väl implementeringen lyckats. Eventuella skillnader mellan de studerade kontoren kommer även att åskådliggöras.</p><p>Slutsatser: Förändringar som skett i och med införandet av lagen är nya regler på en minsta utbildningsnivå samt dokumentationskrav. Som en direkt följd av detta har det skett en förändring i arbetssituationen. Alla respondenter är mycket positiva till förändringen och anser att det positiva övervinner de negativa. Det styrproblem som fanns innan lagen om att direktiven var oklara, kunskapen otillräcklig och motivationen låg är nu löst.</p> / <p>Background: The consumers have grown their investments in financial instruments but the knowledge of these has not grown in the same speed. Some people have not been aware about the risks that a saving in this form involve, but have without consideration watched as their saved money disappeared when the stock exchange done badly. To strengthen the consumer’s position and maintain the quality of bankers and fondbolags advice, the law about financial counseling was introduced the 1st of July 2004. The most important part of this law is that now only educated counselors are able to advise the customers.</p><p>Purpose: The purpose with this essay is to describe the changes the new law has resulted in for ForeningsSparbanken, and also investigate the law’s influence for private advisors. These two together should then help to answer the question on how well this implement has succeeded. Any differences between the studied offices will be illustrated.</p><p>Conclusion: The difference that has happened because the introduction of the new law is new rules on a smallest education level and also documentation requirements. As a direct result of this there has been a change in the working situation. All responding to this are very supportive to the change and thinks the positives overcome the negatives. The problem that was before the law was introduced with unclear directives, insufficient knowledge and motivation has now been solved.</p>

Bakgrund: Konsumenterna har ökat sina investeringar i finansiella instrument men kunskapen om dessa inte har ökat i samma takt. En del människor har inte varit medvetna om de risker som ett sparande i denna form innebär, utan har med förskräckelse sett sina sparade pengar försvinna när börsen gått dåligt. För att stärka konsumenternas ställning samt säkerhetsställa kvaliteten på bankers och fondbolags rådgivning infördes Lagen om finansiell rådgivning den första juli 2004. De viktigaste följderna av lagen är att nu får bara utbildade rådgivare ge råd till kunderna. Syfte: Syftet med denna uppsats är att beskriva de förändringar och det förändringsarbete som lagen medfört för FöreningsSparbanken, samt utreda lagens påverkan på privatrådgivarna. Dessa tillsammans ska hjälpa till att besvara frågan hur väl implementeringen lyckats. Eventuella skillnader mellan de studerade kontoren kommer även att åskådliggöras. Slutsatser: Förändringar som skett i och med införandet av lagen är nya regler på en minsta utbildningsnivå samt dokumentationskrav. Som en direkt följd av detta har det skett en förändring i arbetssituationen. Alla respondenter är mycket positiva till förändringen och anser att det positiva övervinner de negativa. Det styrproblem som fanns innan lagen om att direktiven var oklara, kunskapen otillräcklig och motivationen låg är nu löst. / Background: The consumers have grown their investments in financial instruments but the knowledge of these has not grown in the same speed. Some people have not been aware about the risks that a saving in this form involve, but have without consideration watched as their saved money disappeared when the stock exchange done badly. To strengthen the consumer’s position and maintain the quality of bankers and fondbolags advice, the law about financial counseling was introduced the 1st of July 2004. The most important part of this law is that now only educated counselors are able to advise the customers. Purpose: The purpose with this essay is to describe the changes the new law has resulted in for ForeningsSparbanken, and also investigate the law’s influence for private advisors. These two together should then help to answer the question on how well this implement has succeeded. Any differences between the studied offices will be illustrated. Conclusion: The difference that has happened because the introduction of the new law is new rules on a smallest education level and also documentation requirements. As a direct result of this there has been a change in the working situation. All responding to this are very supportive to the change and thinks the positives overcome the negatives. The problem that was before the law was introduced with unclear directives, insufficient knowledge and motivation has now been solved.

<p><strong>Problem Discussion</strong>: Today the banks manage three central products: mutual funds, mortgages and bank accounts. Banks have authority and credibility, the services and the products they offer and sell can sometimes be difficult to understand. Customers are offered a large number of investment options with varying risk profiles. These developments have created an increasing need for knowledge and information among customers. The financial advice that the financial firms provides, remains a very important activity from a customer view. However, there are ambiguities in this advices’ and it has previously been shown to be difficult for a customer in a dispute of ”wrong” advising, to win over the advisers. The Bank sees the client as a partner while the customer develops a personal relationship with the bank. Usually it is the advisors who provide advice to bank customers and give the impression that it is advice rather than selling they are about to give when a customer walks into a bank office.</p><p><strong>Research questions</strong>: How does the law of financial advice affect a private adviser in his advice to customers? How can internal goals and reward systems affect an advisor in his advice? Which factors have influenced the number of notifications before and after the law?</p><p><strong>Purpose:</strong> The main purpose of this paper is to clarify how private advisers consider how the law on financial advisory, internal goals and reward systems affects their advice to customers. Another purpose is to investigate whether there is a difference between an advisors advice and sales.</p><p><strong>Method</strong>:  We have through a deductive approach used existing theories to create a general idea of the theoretical substance. We have used quantitative and qualitative approaches; primary and secondary data were the interviews and statistical data in the form of notifications.</p><p><strong>Theory</strong>: We have used theories such as reward systems, principal-agency theory, trust and confidence, and customer relationship management.</p><p><strong>Conclusions</strong>: The law on financial advice has not had a major impact on the advice. However the adviser’s way of working has changed.</p><p>Banks have goals to achieve. This affects the advisers’ by the requirements to adapt the advice’s that they give with the goals that needs to be followed. Reward system differs from bank to bank and acts as a tool to motivate advisors. The advisers are not affected largely by the reward system, but primarily of internal goals. The factors that have affected the notifications depends mostly on the media attention;  which increased customers awareness of their rights and the economic crisis; which contributed to the stock market downward trend, affecting customers' outcomes that were other than what they had expected.   There are difficulties to make a distinction between the concepts advising and sales. From the empirical answers, we note that advice and sales go hand in hand and that an advice to costumers will result in some kind of sale.</p>

Problem Discussion: Today the banks manage three central products: mutual funds, mortgages and bank accounts. Banks have authority and credibility, the services and the products they offer and sell can sometimes be difficult to understand. Customers are offered a large number of investment options with varying risk profiles. These developments have created an increasing need for knowledge and information among customers. The financial advice that the financial firms provides, remains a very important activity from a customer view. However, there are ambiguities in this advices’ and it has previously been shown to be difficult for a customer in a dispute of ”wrong” advising, to win over the advisers. The Bank sees the client as a partner while the customer develops a personal relationship with the bank. Usually it is the advisors who provide advice to bank customers and give the impression that it is advice rather than selling they are about to give when a customer walks into a bank office. Research questions: How does the law of financial advice affect a private adviser in his advice to customers? How can internal goals and reward systems affect an advisor in his advice? Which factors have influenced the number of notifications before and after the law? Purpose: The main purpose of this paper is to clarify how private advisers consider how the law on financial advisory, internal goals and reward systems affects their advice to customers. Another purpose is to investigate whether there is a difference between an advisors advice and sales. Method:  We have through a deductive approach used existing theories to create a general idea of the theoretical substance. We have used quantitative and qualitative approaches; primary and secondary data were the interviews and statistical data in the form of notifications. Theory: We have used theories such as reward systems, principal-agency theory, trust and confidence, and customer relationship management. Conclusions: The law on financial advice has not had a major impact on the advice. However the adviser’s way of working has changed. Banks have goals to achieve. This affects the advisers’ by the requirements to adapt the advice’s that they give with the goals that needs to be followed. Reward system differs from bank to bank and acts as a tool to motivate advisors. The advisers are not affected largely by the reward system, but primarily of internal goals. The factors that have affected the notifications depends mostly on the media attention;  which increased customers awareness of their rights and the economic crisis; which contributed to the stock market downward trend, affecting customers' outcomes that were other than what they had expected.   There are difficulties to make a distinction between the concepts advising and sales. From the empirical answers, we note that advice and sales go hand in hand and that an advice to costumers will result in some kind of sale.

Finansiell rådgivning har blivit en allt viktigare del av värdepappersmarknaden och samhället i stort. Nya lagar och riktlinjer har kommit till för att skydda konsumenten och öka kompetenskraven hos rådgivarna. Trots detta har Finansinspektionen hittat och belyst ett flertal risker som konsumenten kan utsättas för och årligen inkommer ett stort antal anmälningar till Allmänna reklamationsnämnden från konsumenter som är missnöjda med den rådgivning de fått. Om antalet anmälningar som inkommit till ARN under åren 2008-2011 ställs i perspektiv till antalet rådgivningsmöten som hålls per år utgör denna siffra ca 0,02 % av antalet möten. Det är därför intressant titta på hur stort problemet kring misslyckad finansiell rådgivning egentligen är samt att undersöka hur bankerna säkerställer kvalitén på rådgivningen. Syfte: Studiens syfte består i att kartlägga och analysera de fall som skett avseende misslyckad finansiell rådgivning gentemot privatpersoner, samt att granska och analysera hur bankerna säkerställer kvalitén på den finansiella rådgivning de erbjuder. Genomförande: Genomförandet av studiens datainsamling har skett genom en kombination av intervjuer, granskning av dokument, empirisk forskning samt finansiell teori och rådande lagstiftning. För att besvara studiens syfte har en kvalitativ metod använts och studiens primära källor har inhämtats genom intervjuer med olika företag samt genom granskning av Allmänna reklamationsnämndens beslut mellan åren 2008-2011. Slutsats: Bankerna utgör en liten del av ARNs ärenden och majoriteten berör istället de mindre aktörerna, som till exempel försäkringsförmedlare och kapitalförsäkringsbolag. Bankernas kvalitetssäkring har både för och nackdelar och det är svårt att skapa en bra balans mellan att förebygga för mycket och för lite. Kartläggningen av problematiken kring misslyckad finansiell rådgivning visar att bankerna har vissa brister avseende finansiell rådgivning men att de gör ett bra jobb överlag och följer rådanade lagar och riktlinjer. Detta tyder på att misslyckad finansiell rådgivning är ett litet problem bland de svenska bankerna. / Financial advice has become an important part of the securities market and the social society. New laws and guidelines have been introduced to protect customers and to increase the skills required for financial advisers. Despite this the Swedish Financial Supervisory Authority has found a number of risks to which the customer can be exposed for. Meanwhile The National Board of Consumer Disputes annually receives a numerous of complaints from customers who are dissatisfied with the financial advice they have received. If we put the complaints received by the board in perspective to the number of counseling meetings held every year we will see that this number represent approximately 0,02 % of the number of counseling meetings. Therefore, it’s interesting to look at how big the problem regarding unsuccessful financial advice actually is and to investigate how the banks ensure the quality of financial advice. Aim: Purpose of this study is to identify and analyze the cases that have occurred regarding unsuccessful financial advice and to examine and analyze how banks ensure the quality of the financial advice they offer. Completion: This study was completed through a combination of document reviews, empirical research and review of financial theory and current legislation. To answer the purpose of the study a qualitative method have been used and the empirical data were obtained through interviews with various institutions and banks and through examination of the decisions taken by the Board of Consumer Disputes during the years 2008-2011. Conclusion: The banks represent a small portion of the Board of Consumer Disputes cases during 2008-2011. The banks ways of quality assure their financial advice has both advantages and disadvantages and it’s difficult to find a balance between preventing too much and too little. The examination of unsuccessful financial advice shows that the banks have some shortcomings regarding financial advice but in general they are doing a good job and applies laws and guidelines. This shows that unsuccessful financial advice is a small problem among the Swedish banks.