As part of its work to increase awareness of the value of financial planning and working with a CFP® professional, CFP Board is undertaking a multi-year longitudinal study that aims to measure the actual impact of financial planning on clients. This Client Impact Study will compare financial and non-financial outcomes of a diverse and representative sample of mass affluent U.S. households over an extended period of time. Ultimately, the study will allow an empirical evaluation of the reported benefits of using CFP® professionals as compared to other types of professional services and do-it-yourself approaches that don’t involve a financial advisor.
During this webinar, the research team — Sonya Lutter, Ph.D., CFP®, Texas Tech University; Stuart Heckman, Ph.D., CFP®, Texas Tech University; Emily Koochel, Ph.D., eMoney; and Kevin Roth, Ph.D., Managing Director, Research, CFP Board — introduced this important research study and discussed the framework that will be used to evaluate client outcomes. Participants had the opportunity to ask questions of the research team and provide input about the study.