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HomePaperBank-Advisor Certification and Willingness to Pay for Sustainable Finance Products

Bank-Advisor Certification and Willingness to Pay for Sustainable Finance Products

10 June 2025
Authors: Katharina Holzheu and Tobias Wekhof
Presenter: Katharina Holzheu
Abstract:

We examine Swiss retail investors’ willingness to pay (WTP) for sustainable finance products and the influence of bank advisor certification. In a hypothetical choice experiment with a randomized controlled trial (RCT), we assigned participants to either a priming treatment with a bank advisor certified in sustainable investing or a control group. We found a WTP between 1 and 1.5 percentage points of annual return for sustainable mutual funds, especially among financially literate investors. The presence of a certified green finance advisor further increased WTP between 0.2 and 0.8 percentage points, particularly for investors with low financial literacy.

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