FINANCIAL ADVICE, LITERACY, INCLUSION AND RISK TOLERANCE: THE MODERATING EFFECT OF UNCERTAINTY AVOIDANCE

The aim of this paper is to investigate the determinants financial advice with a special focus on cultural role in influence risk tolerance seeking for issues. Financial literacy covered by attitude, behaviour and knowledge. inclusion other factor considered conceptual framework, as an indicator which can enhance both advice. research based primary data collected two European nations, manifesting differences culture, gives possibility test uncertainty avoidance above relationship. This particular novelty work, it sheds light importance culture while designing policies individuals’ hypotheses are tested using Partial Least Square- Structural Equation Modelling (PLS-SEM) method. It was found that improves gets better, along attitude Furthermore, positively influenced partly literacy. Additionally, findings demonstrate does matter explaining between countries. Culture represented avoidance, one Hofstede’s dimension. Individuals from countries manifest very high preference avoiding reflect negative relationship offers useful insights policymakers industry leaders understanding most influential factors enables them scheme services aimed at equipping citizens knowledge skills make best use their resources.