Financial Advisors, Bequests And Ethics

Last registered on March 23, 2026
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Pre-Trial

Trial Information

General Information

Title
Financial Advisors, Bequests And Ethics
RCT ID
AEARCTR-0018173
Initial registration date
March 20, 2026

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
March 23, 2026, 7:52 AM EDT

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Locations

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Primary Investigator

Name
Michelle Chang
Affiliation
Nanyang Technological University
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Other Primary Investigator(s)

PI Name
Chua Yeow Hwee
PI Affiliation
Nanyang Technological University
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Additional Trial Information

Status
On going
Start date
2026-03-13
End date
2027-03-13
Keywords
Behavior, Education, Finance & Microfinance, Other
Additional Keywords
Investments, Bequests
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
We examine influence of advisors on bequests, investments by surveying financial advisors. We also additionally seek to examine impact of technological tools and advisors.
External Link(s)

Registration Citation

Citation
Chang, Michelle and Chua Yeow Hwee. 2026. "Financial Advisors, Bequests And Ethics ." AEA RCT Registry. March 23. https://doi.org/10.1257/rct.18173-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2026-03-13
Intervention End Date
2027-03-13

Primary Outcomes

Primary Outcomes (end points)
Quality and intensity of investments / bequest recommendations.
Primary Outcomes (explanation)
Quality and intensity of investments / bequest recommendations.

Secondary Outcomes

Secondary Outcomes (end points)
As we also have measures of ethical views and personality of advisors, there may be incidental findings from this in relation to quality and intensity of investments/ bequest recommendations.
Secondary Outcomes (explanation)
As we also have measures of ethical views and personality of advisors, there may be incidental findings from this in relation to quality and intensity of investments/ bequest recommendations.

Experimental Design

Experimental Design
Information Treatment.
Experimental Design Details
Not available
Randomization Method
Information Treatment via randomization. This is done via qualtrics survey.
Randomization Unit
Individuals.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
300-500
Sample size: planned number of observations
300-500
Sample size (or number of clusters) by treatment arms
300-500 ; because of the way the treatment flow is designed, about 150 per treatment group.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
Nanyang Technological University
IRB Approval Date
2026-03-13
IRB Approval Number
2025-1234
Analysis Plan