Scale name: Financial Advisor Anxiety
Description: This 11-item scale is used to determine one’s degree of anxiety in working with a financial adviser.
Source: Gerrans, P., & Hershey, D. A. (2016). Financial adviser anxiety, financial literacy and financial advice seeking. Journal of Consumer Affairs. Online advance access, doi: 10.1111/joca.12120
Cronbach's alpha: 0.81
Response format: Likert-type response format (1 = strongly disagree; 5 = strongly agree)
Instructions: Using the five-point scale below, please indicate the extent to which you agree or disagree with each of the following statements.
1. I (would) find it difficult to ask a financial professional to explain something again, repeat themselves, or use words that I can easily understand.
2. I (would) worry that financial professionals would think I’m silly if I come into their office with a minor financial concern.
3. I (would) find that a financial professional would criticize me for not saving all of the receipts I should.
4. I’m embarrassed I haven’t made more of an effort to keep careful financial records.
5. Describing to a financial professional how I spend money on frivolous or unnecessary items is (would be) exceptionally embarrassing for me.
6. I (would) worry that a financial professional would criticize me for some of the
unwise spending and saving decisions I have made.
7. If I have financial difficulties I tend to hide this fact from others, even close
people, because I am (would be) embarrassed.
8. I am (would be) embarrassed by the fact that I have allowed my financial situation
to deteriorate to the point it has.
9. The thought that a financial professional might ask me for detailed transaction
information and receipts is humiliating for me.
10. I would be hesitant to show my private financial records to a financial professional.
11. I am generally uncomfortable talking about personal financial matters with others.