This research was lead by Karina Harley through a partnership between the UTS Business School and the Vienna University of Economics and Business in Austria.
Project: Computer-based education at the point-of-sale for superannuation products
The project developed an interactive computer-based intervention to be used at point-of-sale for superannuation products – a ‘teachable moment’. The program combined financial information from product brochures, super fund websites and product disclosure statements into an online account opening process.
The innovative system aimed to increase knowledge of specific financial concepts related to the product (knowledge of risky asset investments, risk-return trade off, diversification and volatility) by providing relevant educational information. The research found that financial education at a ‘teachable moment’ did improve people’s financial capability, but only for people who were making an active investment decision.
A 16 page summary of the research report is available here.
The full thesis (120 pages) is available here.