Leveraging FinTech and Artificial Intelligence to Improve Financial Wellness for the Masses
Call for Papers
Objective
Curate a Special Issue of the Financial Planning Review (FPR) that focuses on the impact of financial technology (FinTech), artificial intelligence (AI) and choice architecture robo-advice on facilitating financial wellness in a population not typically served by traditional financial planning models. Shlomo Benartzi has authored an anchor article that helps identify the issues and quantify the potential benefit.
Description
In Fall 2020, Financial Planning Review published a special issue on financial technology, focusing primarily on robo-advice. Technology has advanced rapidly since. This call for papers aims to inspire and promote research that demonstrates the potential of technology, such as artificial intelligence (AI), to deliver financial wellness benefits (if not financial wealth benefits) to a population unable to access traditional financial planning advice. It intends to leverage the diversity of disciplines (e.g., investments, psychology, human science) inherent in the practice of financial planning.
Financial wealth and financial wellness are not synonymous. The editors of the special issue are particularly interested in the impact of technology on financial wellness rather than simply financial wealth because financial wellness has been accepted in the financial planning academic and practitioner communities as an important objective of the financial planning process. Benartzi (2025) demonstrates in the Financial Planning Review, for example, the extent to which wealth and wellness might be traded for the other. He estimates that improved financial wellness is equivalent to a 7.5% increase in income or a 25% increase in median retirement account balance. Unfortunately, efforts to increase financial literacy have demonstrated little promise in improving either better financial outcomes or improved financial well-being (e.g., Willis (2008)). However, evidence suggests that sound financial planning advice improves both financial outcomes and financial wellness (e.g., Hanna and Lindamood (2010), Burke and Hung (2015), and Kim, Pake, Shin and Hanna (2018)).
Timeline, Topics and Submissions
Target publication date: Spring 2026
Submission deadline: August 31, 2025
Topics may include:
- Financial Planning Technology
- Financial Planning Process
- Financial Planning and Advice Choice
- Artificial Intelligence
- Big Data
- Large Language Models
- Financial Planning Business Models
- Financial Wellness
- Behavioral Finance
- Choice architecture
Submission might address questions such as:
- What proportion of financial planning benefits can be delivered digitally?
- How can AI increase financial planning benefits for individuals without access to traditional financial planning?
- Does AI substantially increase financial planning benefits over traditional robo-advice models?
- What is the aggregate value to society of improving financial outcomes with automated digital platforms?
- What financial planning benefits cannot be delivered digitally?
- What are investor preferences for or aversions to digital financial planning solutions?
Authors may review journal guidelines and submit articles online.
Guest Editors
Chet Bennetts, The American College of Financial Services ([email protected])
Eric Ludwig, The American College of Financial Services ([email protected])
Eric Ludwig and Chet Bennetts of the American College of Financial Services will serve as guest editors. Dr. Ludwig is a retirement planning and behavioral finance expert with more than 10 years of experience as a practicing wealth manager. Bennetts has more than 20 years industry experience, is completing his Ph.D., and focuses on financial behavior and financial well-being.
References
Benartzi, S. (2025). The value of holistic advice. Financial Planning Review, forthcoming.
Burke, J., & Hung (2015). Do financial advisers influence savings behavior? RAND Corporation.
Hanna, S. D., & Lindamood, S. (2010). Quantifying the economic benefits of personal financial planning. Financial Services Review, 19(2), 111–127.
Kim, K. T., Pak, T. Y., Shin, S. H., & Hanna, S. D. (2018). The relationship between financial planner use and holding a retirement saving goal: A propensity score matching analysis. Financial Planning Review, 1(1–2), e1008.
Willis, L. (2008). Against financial-literacy education. Iowa Law Review v.94n.1.197-285.