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are co-ordinating 2 additional mini-breakout research rooms where researchers will present additional peer-reviewed, unpublished research selected from the many submissions we received.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.
Key Factors for Financial Wellbeing
Short Description
Financial wellbeing (FWB) is often measured using the CFPB’s Financial Wellbeing Scale, but there are many alternative ways to assess this concept, including individual perceptions of FWB (e.g., financial satisfaction or stress), objective outcomes that are indicative of FWB (e.g., net wealth, retirement adequacy), and behaviors that influence FWB (e.g., planning, saving, budgeting). Improving FWB requires a nuanced understanding of factors contributing to these measures. We investigate the drivers through which individuals attain FWB across its different dimensions. Individual discount rates, risk preferences, and financial self-confidence consistently contribute to different indicators of FWB. In particular, we find significant evidence that both the discount rate and self-confidence in financial decision-making have strong impacts on the dimensions of FWB. Financial literacy has an important moderating role in relation to these two drivers and to income. Personality traits, such as conscientiousness and neuroticism are influential in alternative ways across models.
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
Vickie Bajtelsmit, Ph.D., Colorado State University
Email Address
Names of authors in order
Vickie Bajtelsmit, Jennifer Coats