The Journal of Financial Planning's Research Showcase - Part 2

Hear directly from researchers as they present new research. The Journal of Financial Planning editorial team and peer reviewers identified six works that help planners serve clients and advance the financial planning profession.

Ready or Not, Retirement is Coming--How Do Women, Gen X-ers and Baby Boomers Fare? Author: Dalisha Herring
Description: Retirement research often finds that Americans fall short of benchmarks for adequate retirement savings, but little focus has been given to the role gender plays in the shortfall or how that role might vary at different points in time. And what about Gen X? Our research focus is on the effect of genders and generation at three points in time as we assess subjective and objective retirement income adequacy.

Learning Objectives:
• Determine if gender or generation makes a difference in how prepared for retirement we think we will be versus how prepared we may actually be
• Realize the gap between need and resource availability to determine necessary changes in retirement preparation
• Consider underlying concerns for potential budget shortfall as retirement looms for Boomers and Gen X

The Value of Professional Financial Planning Services--Towards a Holistic Theory, Author: Stuart Heckman
Description: This study set out to (1) review the research literature regarding the value of financial planning and (2) present a theoretical framework that can help more clearly define the value of professional financial planning services. This framework should be useful to practitioners seeking to elevate the profession of financial planning.

Learning Objectives:
• Assess the research literature regarding the value of financial planning
• Define financial planning and professional financial planning services
• Apply a holistic theory of personal financial planning

The Shape of the Expected Equity Risk Premium, Author: David Blanchett
Description: While there is significant evidence of a positive historical realized equity risk premium (ERP), it is less clear how equity returns have varied in different bond yield environments (the expected ERP). This presentation explores historical expected ERPs across 16 countries from 1870 to 2015 and demonstrates that while equity returns are likely to be lower in a low bond yield environment, they are not likely to be as low as a constant ERP would suggest, and that the overall relation is relatively noisy.

Learning Objectives:
• Understand the different ways the equity risk premium (ERP) can be measured
• Context on how the returns of equities have varied in different bond yield environment
• Implications for the research on financial planning and forecasts