Socio-experiential determinants of financial advisors’s performance

The E.U. directive 2004/39/EC, known as "Markets in Financial Instruments Directive" (MiFID), tried to build a financial market that was able to protect investors, differentiating them according to their degree of financial experience, and then to improve the mechanisms of governance investment firms. A basic role in this system is played by financial promoters. Through questionnaires submitted to potential investors (called "MiFID Questionnaires”), the financial promoters classify them according to their characteristics, but sometimes they can "induce" toward different behaviors in the field of financial investments. The financial promoters, on the other hand, qualify themselves through performance averages of its customers. The aim of this paper is to study the characteristics that can able the financial institution to distinguish a normal promoter by a "good promoter": personal characteristics or skills that can be related to the same promoter or to the savers which rely on him their own financial resources, or the interaction between the various actors. Such characteristics will be analyzed, using techniques such as multivariate classification analysis, in a sample of financial promoters operating within the territory of Bari, and who treated interests of thousands of investors.