A report by Consob tries to clarify the attitude of investors to take advantage of the financial product information.
The result is a photographic not very comforting: we do not know how to assess the risks associated with our investments, or specific products. We are a bit naive and even little interested in informing us.
A very low percentage, between 10 and 18%, is that of those who correctly answer questions about market, credit and liquidity risks.
20% of financial decision-makers say they do not know the most common products, while the remaining 80% only know bank deposits, government bonds and bonds. That said, over a third of respondents are unable to put their stocks and bonds in order by risk level. On the contrary, the majority think that the shares are decidedly less risky than bonds, and that’s why they prefer them in their investment portfolio. In most cases people think they know more than they actually are.
Almost 30% of the interviewees admit to being helped by a professional, thus delegating the technical and informative aspects to the latter, or not to look at the informative material because they are not able to understand it.
On the one hand, a simplification of information material is expected, but on the other the role of the financial advisor becomes central, not only to advise but also and above all to explain. An informative role that belongs to him and that is important to exercise to make us all more aware and able to make correct decisions.