Professionalisation of financial planning in Australia, Canada, and South Africa

IF 2 4区管理学 Q3 BUSINESS

Australian Journal of Management Pub Date : 2024-04-26 DOI:10.1177/03128962241246679

Daniel W Richards, Chris Robinson, Gizelle D Willows

引用次数: 0

Abstract

Delivery of apt financial advice to the public has become a high priority in developed countries due to the increased complexity of personal finance. Using the theory of professionalisation and qualitative interviews, we investigate the common barriers that three apex financial planning professional bodies encounter as they create a jurisdiction for Certified Financial Planners® (CFP). We show that a sales orientation, commission-based remuneration, membership entrenchment with financial product providers and other stakeholder lobbying impede the professional bodies’ progress. However, governmental willingness to regulate financial advice, coupled with technological advances, may enable professionalisation. Our article adds to research on the professionalisation of financial planning and offers practical insights into how other bodies around the world can progress CFP’s jurisdiction. Our research differs from the published work on other professions because it is happening even as we write.JEL Classification: J44, L84, K23

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澳大利亚、加拿大和南非的财务规划专业化

由于个人理财日益复杂，向公众提供恰当的理财建议已成为发达国家的当务之急。利用专业化理论和定性访谈，我们调查了三家顶级财务规划专业机构在创建注册财务规划师（CFP）司法管辖区时遇到的共同障碍。我们发现，销售导向、基于佣金的薪酬、与金融产品提供商的会员关系以及其他利益相关者的游说阻碍了专业机构的发展。然而，政府对金融咨询进行监管的意愿，再加上技术进步，可能会使专业化成为可能。我们的文章是对财务规划专业化研究的补充，并为全球其他机构如何推进 CFP 管辖权提供了实用的见解。我们的研究与已发表的有关其他职业的研究不同，因为就在我们撰写本文的同时，其他职业的研究也正在进行：J44, L84, K23

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Australian Journal of Management Multiple-

CiteScore

10.60

自引率

4.20%

发文量

期刊介绍： The objectives of the Australian Journal of Management are to encourage and publish research in the field of management. The terms management and research are both broadly defined. The former includes the management of firms, groups, industries, regulatory bodies, government, and other institutions. The latter encompasses both discipline- and problem-based research. Consistent with the policy, the Australian Journal of Management publishes research in accounting, applied economics, finance, industrial relations, political science, psychology, statistics, and other disciplines, provided the application is to management, as well as research in areas such as marketing, corporate strategy, operations management, organisation development, decision analysis, and other problem-focuses paradigms.