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are co-ordinating 2 additional mini-breakout research rooms where researchers will present additional peer-reviewed, unpublished research selected from the many submissions we received.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.
Exploring Diverse Drivers: Investment Literacy and Investment Motivations
Short Description
Motivation enhances productivity and satisfaction in achieving investment goals because goal-directed behavior regulates processes, helping investors attain their desired outcomes. This research examines the associations between investment literacy, risk tolerance, and the diverse motivations that drive individuals to invest. This study utilized the 2021 National Financial Capability Study (NFCS) and the 2021 Investor Survey datasets to investigate the relationship between investment literacy, risk tolerance, and investment motivations. The study considers six motivational factors that encompass the spectrum of investor intent: short-term investment gain, long-term investment gain, entertainment/engagement, social interactions, social support, social responsibility, and the pursuit of investment. The findings indicate that objective investment knowledge was negatively associated with all investment motivations except for 'long-term horizon' and 'learning investment.' Conversely, subjective investment knowledge showed positive associations with all motivations except for 'long-term horizon.' Risk tolerance exhibited positive associations with all motivations to invest. This study is one of the first attempts to empirically examine the association of investment motivations with investment literacy and financial risk tolerance using a US national dataset. Findings from this study provide important implications for both researchers and practitioners within the consumer financial services sector, shaping future financial planning practices.
Upload a BLIND copy in Word Document format. Ensure all authors names are removed from the submission. Use the Paper Name + BLIND as the name of the file.
Lead & Corresponding Author
Yi Liu, St. John Fisher University
Email Address
Names of authors in order
Yi Liu, Kyoung Tae Kim, Sunwoo Lee