Latest Publications
Explore in-depth articles on the state of investing in Europe, broker practices, regulatory insights, and market trends. Our publications translate complex research and policy into clear, actionable knowledge for long-term investors.
Suboptimal investment behavior reported by over 500,000 Dutch households
The design of investment platforms influences investor behavior in powerful ways—often driving excessive risk-taking, frequent trading, and poor diversification, according to the Dutch financial regulator AFM.
Navigating the EU Economy in 2025: Risks, Opportunities, and the Path Ahead
With modest growth, falling inflation, and new global trade tensions, the EU economy in 2025 faces challenges—but also investment opportunities in tech, green energy, and infrastructure.
The Evolution of Online Investing: A Scientific Look at EU Broker Platforms
Based on ESMA’s latest analysis, this article examines the rise of digital brokerage models, their risks, and how PIA uses these findings to strengthen investor protection.
European Central Bank (ECB) Cuts Interest Rates in April 2025 to 2.25%
The European Central Bank reduced its key rate to 2.25% in April to support sluggish growth and falling inflation, marking a turning point in EU monetary policy.
Notable Scientific Papers
This section features key academic research from which Private Investor Alliance draws inspiration. These publications support the development of a safer, more transparent investment environment by shaping perspectives on broker design, investor behavior, and regulatory standards.
The Role of Brokers in Cultivating an Inter-Institutional Community
Marjon Baas, Robert Schuwer, Ellen van den Berg, et al.
2022, The Netherlands
Though focused on education, this study provides insight into the broker’s role in managing institutional relationships and boundaries. It underscores how trust, transparency, and structured facilitation are key to sustained collaboration—paralleling similar needs in financial brokerage services.
The Effects of Trading Apps on Investment Behavior Over Time
Gathergood, Gissler, Mayer
2022, United Kingdom
This longitudinal study investigates how trading apps impact investor behavior. It finds that apps increase short-term trading and risk-taking over time, potentially undermining long-term investment outcomes for many users.
Execution Quality Study: Neo-Brokers and the Cost of Trading
Prof. Dr. Meyer, Dr. Charline Uhr, Prof. Dr. 2022, Germany
This empirical study compares trading outcomes at a major neo-broker versus traditional venues like Xetra. The findings suggest that, under certain conditions, neo-brokers offer equal or superior execution quality, challenging regulatory assumptions around payment-for-order-flow.
The ‘Actual Retail Price’ of Equity Trades
Christopher Schwarz, Michael S. Weisbach
2022, United States
This paper examines the true costs borne by retail investors when executing equity trades, revealing that execution quality can vary widely across brokers. Using transaction-level data, it shows that many brokers prioritize payment-for-order-flow revenue over investor outcomes, resulting in hidden costs for retail traders.The European Central Bank reduced its key rate to 2.25% in April to support sluggish growth and falling inflation, marking a turning point in EU monetary policy.