Enhancing financial advisory quality in emerging markets: the role of strategic planning, FinTech adoption, and policy in service delivery

Abstract This study investigates the significant losses experienced by Iranian traders from 2020 to 2023, attributed to poor trading technology, a lack of servant leadership, and ineffective financial marketing strategies, which have raised concerns about the future of financial services and the brokerage industry. The aim is to develop a model that examines the impact of strategic planning and financial marketing strategies on the quality of financial advice, considering the mediating role of Fintech acceptance and the moderating role of servant leadership. The findings reveal that strategic planning significantly influences FinTech acceptance and the quality of financial advice, while the effect of financial marketing on advisory quality is inconclusive. Additionally, FinTech acceptance positively mediates the relationship between strategic planning and advisory quality but not for financial marketing strategies. The moderating role of servant leadership was also confirmed, showing a positive influence by strengthening the relationship between strategic planning and the quality of financial advice. This study fills both theoretical and practical gaps by integrating FinTech adoption, strategic planning, and financial marketing strategies in exploring financial advice quality. It contributes to the literature by providing a comprehensive view of these interconnected factors. Practically, the research addresses the "Black Wednesday Issue" in the Tehran stock market, where many investors suffered losses, offering insights to enhance financial advice and mitigate future risks, benefiting researchers, financial institutions, policymakers, and the general public.