The Market for Financial Advisor Misconduct
After the far-reaching media buzz caused by Stigler Center Working Paper No. 1 on the job market for financial advisors with a history of professional misconduct, the authors are back with a user-friendly new resource for anyone who wants to know more. Mark Egan of Harvard, Gregor Matvos of Northwestern University, and Amit Seru of Stanford have now made the data from their groundbreaking research publicly available.
EganMatvosSeru.com is a free resource created for anyone interested in the financial advisory industry—from policymakers and academics to journalists or members of the 56 percent of American households who have sought advice from a financial advisor. The site offers free data and analysis on the industry, including, for example, rankings for each firm, county, and state in terms of financial advisor misconduct. Egan, Matvos, and Seru have also constructed a new Investment Advisor Dataset from public records that’s now available for free from their site. The Investment Advisor dataset includes the employment and disclosure history for 462,000 investment advisors over the period 2005–15.