| Abstract | This thesis examines financial literacy levels in the United States and their implications, discusses the presently utilized methods for solving the problem, and proposes further potential solutions and market opportunities. Traditional research was complemented by data and insight from professional financial advisors which was used in further analyzing the efficacy of advisors, as well as assessing their industry's capability to provide relief to the financial literacy crisis as an alternative to improving financial literacy. Following an extensive discussion of the problem and the most commonly implemented efforts for solving it, it became clear that current efforts by the Federal government and nonprofits have not been able to make a substantial difference, the traditional financial advisory business model cannot adequately address the problem at scale, and there is a potentially large and impactful market opportunity for a new entrant. Discussion of the details of this new entrant follows the proposal of two potential regulatory changes that could substantially improve financial literacy and welfare in the United States. |
