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In this paper, we highlight theoretical frameworks and practical tools in the management literature, which offer valuable perspectives for financial service professionals. More specifically, we review the core logic related to the creation of competitive advantage, as well as the necessary foundations for the application of readily-available analytical tools such as data envelopment analysis (DEA). We then integrate these foundations with the financial services landscape so that financial service professionals can leverage their understanding in areas of stock selection, portfolio management, data analytics, and practice management.
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Management Frameworks and Methods: Perspectives and Tools for Financial Service Professionals

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Advice provided by financial planners has the potential to impact the financial and emotional well-being of clients and is particularly important in a world struggling to deal with COVID-19. Despite the outcomes of quality financial planning relationships, there is little direct evidence to support the importance of technology in the financial planning setting, Previous research has emphasised the importance of technology in other fields, although not in relation to financial planning. This research investigates the impact of technology on financial advice value, measured in a survey of clients and financial planners regarding factors of technology, communication, trust, and investment returns. A questionnaire was developed based on previously validated scales. Ratings for the factors were compared between clients and financial planners, with financial planners found to underestimate their client’s confidence in their process, and also underestimate the importance of communication to clients, The results indicate that clients value investment returns above the financial planning relationship, and that financial planners value the relationship above investment returns, This research contributes to the financial planning and technology literature, provides a foundation for future research, and provides support for the importance of communication and technology in professional relationships such as in financial planning.
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Technology will Save Financial Advice

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This paper provides an overview of the financial and psychological reverberations being felt by sections of the Australian population during the COVID-19 pandemic. It considers the interplay between economic forces, financial resources and psychological reactions during the pandemic and whether the outcomes will manifest in ongoing changes to how individuals and generational cohorts consider and plan for their financial futures. In particular, financial stress, mental distress, financial risk attitudes and risk tolerance are considered in the light of lasting changes resulting from past financial and socio-historical events.
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Financial and Psychological Reverberations During COVID-19: Evidence for Individual and Generational Turning Points?

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The COVID-19 crisis presents an opportunity for the financial advice sector to demonstrate its importance. This paper examines literature from multiple disciplines to better understand the nature of a crisis, the role that expert advisers play and the value of advice to clients during a crisis. The literature demonstrates the multidimensional nature of a crisis, the need for a sophisticated approach to client-professional relationships and the positive impact of professional financial advice on wellbeing during and beyond a crisis. The findings motivate further research to establish a more detailed framework for understanding the value of financial advice.
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The Value of Financial Advice in a Crisis: A Multidisciplinary Literature Review

Volume 9 (2023): Issue 1 (December 2023)

Volume 8 (2022): Issue 1 (December 2022)

Volume 7 (2021): Issue 1 (December 2021)

Volume 6 (2020): Issue 1 (December 2020)

Volume 5 (2019): Issue 1 (December 2019)

Volume 4 (2018): Issue 2 (December 2018)

Volume 4 (2018): Issue 1 (December 2018)

Volume 3 (2017): Issue 2 (December 2017)

Volume 3 (2017): Issue 1 (December 2017)

Volume 2 (2016): Issue 2 (December 2016)

Volume 2 (2016): Issue 1 (December 2016)

Volume 1 (2015): Issue 1 (December 2015)

Financial Planning Research Journal

The Financial Planning Research Journal (FPRJ) Editorial Board is a peer-reviewed open-access journal that publishes original, applied, and topical research articles to aid understanding of the practice and policy of financial planning in Australia. Published on behalf of the Financial Advice Association Australia, our articles span topics including behavioural finance, economics, finance, financial advice, financial literacy, financial education, financial planning, financial regulation, insurance, investment, retirement, and related disciplines. The journal also includes articles from the education, ethics, law, and psychology fields where they relate to financial planning and advice.  FPRJ provides an academic platform to discuss issues around personal financial planning and wealth management, changes in the financial planning industry, and the notion of professionalism in personal finance.  Published twice a year, FPRJ focuses on matters of interest to the financial advice community that will inform the practice and/or policy of the profession. FPRJ’s readership includes academic researchers, educators, practitioners, and policymakers. FPRJ articles are included on reading lists for university students, as continuing professional development for practitioners, and as preparatory resources for the National Financial Adviser exam in Australia.  While the journal has its origins in Australia, FPRJ encourages international submissions as it seeks to expand the body of knowledge in financial advice and financial planning and contribute to the development of financial planning as a profession.  Archiving Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections. Plagiarism Policy The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 