The Journal of Financial Planning's Research Showcase - Part 1

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.

Narratives and the Impact of Message Framing on Financial-Planning Intentions, Author: Tim Todd
Description: This presentation will discuss research about adopting a narrative or storytelling approach when advising clients in various financial-planning domains. This research demonstrates that, in the financial-planning decision-making context, stories are powerful, framing in those stories matter, and this impact can be different based on the underlying financial behavior.

Learning Objectives

• Identify how prospect theory informs financial decision-making
• Recognize how framing may be paired with financial behaviors
• Understand the impact that stories and narratives can have on financial-planning intentions

Later Life Financial Planning Concerns: A Unique Perspective from Midwest LGBTQ Adults, Author: Mary Dorn
Description: This presentation will discuss the fears and feelings of LGBTQ clients regarding aging and financial planning needs. The research identified four themes that guide CFP® professionals’ advice for and interactions with LGBTQ clients.

Learning Objectives
• Understand the importance of cultural competence in working with LGBTQ clients
• Recognize the impact of LGBTQ history and changes to current laws and policies
• How LGBTQ clients’ fears and feelings affect selection criteria when choosing a planner

Protecting Well-Being through Financial Shocks, Authors: Megan McCoy, Emily Koochel, and Sonya Lutter
Description: This session demonstrates the protective features that may increase individuals’ resilience against factors that have the potential of causing damage to financial well-being. To address the impact of financial stressors on well-being, clients evaluate their ability to overcome the stressor by examining past experiences and taking inventory of available resources.

Learning Objectives:
• Appreciate how Lazarus and Folkman (1986)'s theory of stress and coping can be used to understand client behavior.
• Evaluate the predictive nature of financial stressors, prior financial experience and exposure, and resources on financial well-being.
• Provide value to clients by addressing the underlying thoughts and emotions that arise during a crisis or transition.