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AFS Advanced Research in Financial Planning Conference 2024

September 18–20, 2024

Columbus, Ohio, United States

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.

  1.  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.
  2. The winner of the JFP's Montgomery-Warschauer Award for best research from the prior year will present their research.
  3. 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.
  4. 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.
  5. 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are co-ordinating 2 additional mini-breakout research rooms where researchers will present additional peer-reviewed, unpublished research selected from the many submissions we received.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.
  6. 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.

U.S Households Financial Well-being and Crypto Investment Decisions

Wednesday, September 18, 2024 at 2:55 PM–3:15 PM ADT
AFS 123
Short Description

Individual investors have become interested in cryptocurrency. Understanding households' financial well-being with cryptocurrency is valuable for understanding the association of the rapidly evolving financial sector with households’ financial stability, risk management, and decision-making. This study uses nationally representative U.S. population data from 2015 to 2018, Understanding American Study (UAS) waves, to investigate the relationship between a household's financial well-being and its decision to invest in cryptocurrency assets while seeking financial advice. This study used the Pooled regression model following the Chow test to select the best alternative models to find a negative correlation between a household's financial well-being and its decisions about cryptocurrency investments. The heteroskedasticity problem was addressed with the help of Bootstrapping, Feasible Generalised Least square (FGLS), and Robust HCCM. However, results were consistent after solving the heteroskedasticity problem, and households’ financial well-being was negatively associated with crypto asset ownership in their portfolios. Researchers and policymakers might utilize this study to comprehend the patterns in household financial well-being when new financial products like cryptocurrency are introduced to the US financial markets.

Lead & Corresponding Author

Vikesh Kumar, School of Financial Planning, Texas Tech University

Additional Authors

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