Searching for new saving behavior theories : How relationships between banks’ customers and advisors affect household saving

Purpose – The purpose of this paper is to develop a model of bank advisor/customer relationships and customer saving behavior. Design/methodology/approach – The research is a theoretical review and model development of savings behavior and bank advisor/customer relationships. The review is used for the development of a model of bank advisor/customer relationships, and their effect on savings behavior. Findings – Findings are a model that distinguishes three kinds of exchange (relational, interimistic, and transaction) in between bank advisor and customer. The three kinds of exchange then influence customer savings behavior. Research limitations/implications – The implications of this research is that it points to that relationship marketing theory can be used in the analysis of how bank advisors influence customer savings behavior. Practical implications – For regulators and financial services firms, these findings point to how the role of bank advisors for consumer savings behavior can be analyzed. This is important, as much policy work presumes that advisors influence customer savings behavior, but the knowledge base for that presumption needs to be better understood. Social implications – The paper contributes toward a better understanding of the social exchange between bank employees and customers as regards savings products. Originality/value – This paper is original because it includes many theoretical research fields, and because it connects the bank advisor and customer relationship with the customer's savings behavior.