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Universalizing Complete Access to Finance: Key Conceptual Issues

Universalizing Complete Access to Finance: Key Conceptual Issues

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In this paper, we present two stylized models of the financial system. We make the case that in order to realize the potential of a well-functioning complete financial market, financial system designers and financial service providers will need to think about ways to deliver financial propositions that are customized to individual households by responding to their unique circumstances. This will entail the presence of proximate, well-trained providers that intermediate between the customer and those large “product manufacturers” whose goal is financial well being and not merely product sales. These providers would need to use expertise in financial advice or wealth management to develop integrated financial propositions for clients. We also highlight some of the important debates that arise in making this stylized financial system a reality.

Download this working paper: http://www.adbi.org/working-paper/2010/12/10/4234.universalizing.access.finance/
In this paper, we present two stylized models of the financial system. We make the case that in order to realize the potential of a well-functioning complete financial market, financial system designers and financial service providers will need to think about ways to deliver financial propositions that are customized to individual households by responding to their unique circumstances. This will entail the presence of proximate, well-trained providers that intermediate between the customer and those large “product manufacturers” whose goal is financial well being and not merely product sales. These providers would need to use expertise in financial advice or wealth management to develop integrated financial propositions for clients. We also highlight some of the important debates that arise in making this stylized financial system a reality.

Download this working paper: http://www.adbi.org/working-paper/2010/12/10/4234.universalizing.access.finance/

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Published by: Asian Development Bank Institute on Dec 10, 2010
Copyright:Traditional Copyright: All rights reserved

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12/10/2010

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