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are co-ordinating 2 additional mini-breakout research rooms where researchers will present additional peer-reviewed, unpublished research selected from the many submissions we received.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.
The Role of Financial Advisors in Promoting Annuity Literacy: Insights into the Moderating Effect of Financial Knowledge
Short Description
This paper examines the role of financial advisors in promoting annuity literacy in the United States and examines the moderating effect of financial knowledge on this relationship. Utilizing a proprietary dataset from a 2023 survey conducted by a large insurance company and employing propensity score matching among other statistical techniques, the findings demonstrate low overall annuity literacy. Nonetheless, the results reveal a positive link between the use of financial advisors and annuity literacy levels. The study further identifies financial knowledge as a moderating factor in this relationship, while also highlighting the potential for diminishing returns from financial knowledge when a financial advisor is involved. These findings emphasize the significance of both financial advice and knowledge in improving the understanding of annuity products. Additionally, the paper provides recommendations for financial advisors on how to effectively work with clients across a spectrum of financial knowledge.