Date of Award
Doctor of Philosophy (PHD)
Global Leadership - with a specialization in Corporate and Organizational Management
College of Business and Management
The role of the financial advisor has changed from the traditional broker to a more "counselor-type" role. This change has made financial advisors more susceptible to the traditional stressors seen by other "counselor-type" professions. Therefore, it is important to understand current levels of role stressors (role ambiguity and role conflict), job satisfaction, and burnout (exhaustion, cynicism, and professional efficacy) among financial advisors.
The purpose of this research is to measure demographics, levels of role conflict, role ambiguity, job satisfaction, and burnout to identify any significant relationships. The theoretical framework includes Maslach's Burnout Inventory (1981), Herzberg's Motivation-Hygiene Theory (1959), and role theory (Katz and Kahn, 1966, 1978). The corresponding measurement tools are Maslach's General Survey (1996), the abridged Job Descriptive Index and the Job in General scale originally developed by Smith, Kendall and Hulin (1969), as well as Rizzo, House, and Lirtzman's (1970) measures of role conflict and role ambiguity.
Specifically, financial advisors in two counties in South Florida were surveyed in a quantitative, non-experimental study, using correlational techniques to measure relationships. The objective of the study is to extend current literature by testing a "new" target population of professionals to determine any significance between demographics, role conflict, role ambiguity, job satisfaction, and burnout. Descriptive tests describe the sample of 163 financial advisors, while multiple regressions were used to test the six hypotheses. Reliability testing was also conducted to support instrument reliability.
Results suggested demographics play a minimal part in the correlation and prediction of role conflict, role ambiguity, job satisfaction, and burnout. Overall, financial advisors exhibited low levels of role conflict, role ambiguity, exhaustion, and cynicism, where-as they exhibited high levels of job satisfaction and professional efficacy. Regression analysis supported role conflict, role ambiguity, and job satisfaction as significant predictors of burnout. Job satisfaction had the highest correlation to exhaustion and cynicism, while role ambiguity correlated highest with professional efficacy. Results will help financial employers better understand the dynamics of role stressors, job satisfaction, and burnout that affect their financial advisors. This will enable financial employers to better retain valuable employees which better serves clients, and increases overall profitability.
Fichter, Courtney, "A Research Study of Role Conflict, Role Ambiguity, Job Satisfaction, and Burnout among Financial Advisors" (2010). Graduate-Level Student Theses, Dissertations, and Portfolios. 248.