The Academy of Financial Services (AFS) is excited to be collaborating with FPA to provide an "integrated conference experience" for AFS members this year. The AFS research conference will run for the full 2.5 days of the FPA Conference as part of a dedicated research track bringing the best of AFS and the Journal of Financial Planning (JFP) to you.
- A dedicated Research Room for presentations designed to bring the most relevant research impacting professional financial planners. This includes research sessions sponsored by the JFP and peer-reviewed research papers presented by AFS members. These sessions are CE credit approved.
- The winner of the JFP's Montgomery-Warschauer Award for best research from the prior year will present their research.
- In the Research Room AFS will coordinate other research content such as a panel discussion with the editors of the 4 major FP research journals explaining to planners and academics the type of research content to be found, how to best consume/digest research and apply it to a FP practice and more.
- A new FP Research Shark Tank. Based on the format of the popular TV series a select number of researchers will do 5 minute "pitches" on research that they believe would be significantly impactful for practitioners. Planners and researchers will then vote on the most exciting research proposal.
- AFS are co-ordinating 2 additional mini-breakout research rooms where researchers will present additional peer-reviewed, unpublished research selected from the many submissions we received. A timetable of these sessions can be found below.
- AFS will manage the research rooms for fully-hybrid attendance with face-to-face or virtual attendance. Although the content will be exceptional, we hope to see many of you in person as the networking, exhibit hall, FPA keynote speakers and other sessions outside of the research cannot be experienced any other way.
Married Individuals’ Retirement Planning Behavior: The Relationship with Financial Knowledge and Risk Tolerance
Short Description
This study uses the 2021 National Financial Capability Study (NFCS) within a sample of 25,554 adults (18+) across the U.S. to investigate the association between financial knowledge and risk tolerance with retirement planning behavior for married individuals. The Heckman probit regression analysis results find a positive association between married individuals' objective and subjective financial knowledge and retirement planning behavior. A strong positive association is also found between risk tolerance and retirement planning behavior. These findings offer valuable insights for financial professionals, enabling them to develop tailored investment strategies for married clients based on their risk tolerance and financial goals. By aligning investment plans with clients' risk preferences, financial professionals can enhance the likelihood of their clients achieving their retirement objectives. Furthermore, providing financial education can help improve individuals' overall financial literacy and ability to assess and manage risks effectively.