FINANCIAL PLANNING REVIEW最新文献

FINANCIAL PLANNING REVIEW Pub Date : 2025-01-29 DOI: 10.1002/cfp2.1199

Shlomo Benartzi

引用次数: 0

Investors' Response to Market Volatility and Financial Sophistication

FINANCIAL PLANNING REVIEW Pub Date : 2025-01-23 DOI: 10.1002/cfp2.1197

Ichchha Pandey, Michael A. Guillemette, Sabina Pandey

{"title":"Investors' Response to Market Volatility and Financial Sophistication","authors":"Ichchha Pandey, Michael A. Guillemette, Sabina Pandey","doi":"10.1002/cfp2.1197","DOIUrl":"https://doi.org/10.1002/cfp2.1197","url":null,"abstract":"Using data from the 2021 National Financial Capability Study (NFCS), this study examines how individual investors' financial sophistication influences their response to the stock market in two scenarios: when the market drops by 20% and when the market increases by 20% for a brief period. The findings indicate that, relative to holding stocks, individual investors with higher levels of financial sophistication are more likely to purchase additional stocks and less likely to sell stocks when they experience a market drop for a brief period. Similarly, the study investigated how individuals react when the stock market rises for a short period and discovered that they are less inclined to buy and sell stocks than to hold them. Additionally, the results of this study provide insight into the case of myopic loss aversion (MLA), a supplementary finding of this paper. In addition to finding investors' optimal choice of buying and selling when the market moves, the present study provides supporting findings regarding the number of information sources used and trading frequency, all of which make a strong case for the influence of financial sophistication on MLA. In light of the recent COVID-19 and the ensuing volatility in the stock market, understanding how financial sophistication influences investors' reactions to the stock market is crucial for researchers, financial professionals, and policymakers.","PeriodicalId":100529,"journal":{"name":"FINANCIAL PLANNING REVIEW","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2025-01-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/cfp2.1197","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143118420","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Delaying until it is definitely too late – A theoretical framework for explaining procrastination in estate planning

FINANCIAL PLANNING REVIEW Pub Date : 2025-01-22 DOI: 10.1002/cfp2.1196

Michaela Tanner, Roland Hofmann, Katrin B. Klingsieck

{"title":"Delaying until it is definitely too late – A theoretical framework for explaining procrastination in estate planning","authors":"Michaela Tanner, Roland Hofmann, Katrin B. Klingsieck","doi":"10.1002/cfp2.1196","DOIUrl":"https://doi.org/10.1002/cfp2.1196","url":null,"abstract":"Procrastination in estate planning poses significant challenges in personal financial planning. Despite recognizing its importance, many individuals delay estate planning, risking unplanned estate distribution and family conflicts. This procrastination, driven by discomfort and perceived ample time, leaves legacy unstructured, failing to meet the testator's wishes and needs. Understanding procrastination in estate planning is crucial as it affects financial security for surviving dependents and the orderly transfer of assets. Procrastination research, although extensive in academic and professional contexts, has not adequately addressed estate planning, leaving a gap in comprehending this behavior within financial decision-making. This article systematically analyzes procrastination in estate planning, presenting a theoretical framework based on the Rubicon Model and incorporating the mood-repair hypothesis and temporal motivation theory. It outlines the estate planning process, identifying phases where procrastination occurs and the possible reasons behind it. The framework explains how negative emotions and discounted future benefits contribute to delays, impacting the timely completion of estate plans. The article highlights the role of financial advisors in helping clients navigate estate planning, offering practical recommendations to improve client engagement and ensure better financial outcomes.","PeriodicalId":100529,"journal":{"name":"FINANCIAL PLANNING REVIEW","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2025-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/cfp2.1196","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143117918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Mapping the Terrain: Strategies for Building Effective University Financial Planning Programs

FINANCIAL PLANNING REVIEW Pub Date : 2025-01-22 DOI: 10.1002/cfp2.1198

Ronald Heymann, Oliver Schnusenberg, Inga Timmerman

{"title":"Mapping the Terrain: Strategies for Building Effective University Financial Planning Programs","authors":"Ronald Heymann, Oliver Schnusenberg, Inga Timmerman","doi":"10.1002/cfp2.1198","DOIUrl":"https://doi.org/10.1002/cfp2.1198","url":null,"abstract":"This paper explores factors influencing the success of financial planning programs in higher education. It can be used as a guide in the development of a financial planning program. Using a mixed methods approach, the study combines a comprehensive survey of past and present CFP-Board registered program directors and in-depth qualitative insights from the authors' own experiences. The survey encompasses demographics, competition participation, job placement, and perceived administrative support. Key elements of a successful program such as curriculum design, student engagement activities, diversity initiatives, faculty recruitment, and institutional support are discussed. Experiential learning opportunities, outreach efforts for diverse talent, and networking events emerge as critical factors in a successful program. Insights from program directors emphasize the importance of ongoing curriculum development aligned with professional trends, interdisciplinary perspectives, and real-world case studies. Challenges include resource constraints and faculty staffing. The findings offer insights for program directors, faculty, students, administrators, and other professional designation programs to enhance program quality, diversity, and impact, serving the needs of students and the broader community. The findings provide an outline for other professional programs (i.e., CFA or CPA) in how to design, implement, and run a successful program.","PeriodicalId":100529,"journal":{"name":"FINANCIAL PLANNING REVIEW","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2025-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/cfp2.1198","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143118027","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

From the executive editor 执行主编的话

FINANCIAL PLANNING REVIEW Pub Date : 2024-06-27 DOI: 10.1002/cfp2.1188

Stephen M. Horan

引用次数: 0

Optimal withdrawal frequency for sustainable retirement withdrawals 可持续退休取款的最佳取款频率

FINANCIAL PLANNING REVIEW Pub Date : 2024-05-15 DOI: 10.1002/cfp2.1183

Stephen M. Horan

引用次数: 0

U.S. Black adults' estate planning: The role of financial planner use, inheritance receipt, and life insurance ownership 美国黑人成年人的遗产规划：使用财务规划师、接受遗产和拥有人寿保险的作用

FINANCIAL PLANNING REVIEW Pub Date : 2024-04-02 DOI: 10.1002/cfp2.1181

Kimberly Watkins, Shinae L. Choi, Miranda Reiter, Megan McCoy, Shelitha Smodic, Cory Thompson, Kenneth White Jr, Bertranna Muruthi

{"title":"U.S. Black adults' estate planning: The role of financial planner use, inheritance receipt, and life insurance ownership","authors":"Kimberly Watkins, Shinae L. Choi, Miranda Reiter, Megan McCoy, Shelitha Smodic, Cory Thompson, Kenneth White Jr, Bertranna Muruthi","doi":"10.1002/cfp2.1181","DOIUrl":"10.1002/cfp2.1181","url":null,"abstract":"While an emerging body of research has documented the significance of estate planning, there remains limited understanding regarding the extent of Black adults' engagement with estate planning in the United States. The objectives of this study were to examine whether the utilization of financial planners, the status of inheritance receipt, and religion are associated with engagement in estate planning among U.S. Black adults, and how these associations vary based on life insurance policy ownership. Participants for this study were 673 U.S. Black adults aged 25 and older who completed an online survey in July 2021. We estimated logistic regression models to predict Black adults' engagement in estate planning. Results indicated that in fully adjusted models, Black adults who used the services of a financial planner had significantly higher odds of executing a valid will or trust than those who did not seek assistance from a financial planner. The status of inheritance receipt, frequency of attendance at religious services, and ownership of life insurance policies were positively and significantly associated with engagement in estate planning among Black adults. However, as a moderator, patterns did not differ significantly depending on whether they owned life insurance policies. These findings may assist professionals and other stakeholders in financial planning to develop strategies or interventions to enhance estate planning for U.S. Black households.","PeriodicalId":100529,"journal":{"name":"FINANCIAL PLANNING REVIEW","volume":"7 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/cfp2.1181","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140754749","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Dollar cost averaging and fair value dispersion 平均成本法和公允价值分散法

FINANCIAL PLANNING REVIEW Pub Date : 2024-03-29 DOI: 10.1002/cfp2.1182

Thomas J. O'Brien, Christopher D. Piros

引用次数: 0

From the CEO 首席执行官的话

FINANCIAL PLANNING REVIEW Pub Date : 2024-03-21 DOI: 10.1002/cfp2.1179

Kevin R. Keller

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From the Executive Editor 执行编辑的话

FINANCIAL PLANNING REVIEW Pub Date : 2024-03-21 DOI: 10.1002/cfp2.1180

Stephen M. Horan

引用次数: 0