<abstract xmlns="http://www.w3.org/1999/xhtml">

We investigate the effect of personal budget management services provided by a financial institution on undesirable debts of 4,256 individuals and families over a period of one year using objective budget data spanning three years. Results from this study using an Australian dataset show that the majority of the participants reduced their debt repayments and debt repayment to income ratio over a period of one year, Our results also show that the majority of the participants hod an increase in funds available for living expenses and savings.
</abstract>

Can Personal Budget Management Services Improve Debt Repayments? A Study Using Budget Data<xref ref-type="fn" rid="j_fprj-2022-0001_fn_001">*</xref>

<abstract xmlns="http://www.w3.org/1999/xhtml">

This study examines the association between retiree financial planning horizon and retirement satisfaction using longitudinal data collected from the Health and Retirement Study. The results indicate that retirees with long-term financial planning horizons, compared to retirees with short-term financial planning horizons, are more likely to be satisfied with their retirement. The findings and ensuing discussion highlight the need for long-term financial planning during retirement and the need for financial planners to regularly engage in financial planning throughout their clients’ retirement.
</abstract>

Retirees, Financial Planning Horizon, and Retirement Satisfaction

<abstract xmlns="http://www.w3.org/1999/xhtml">

This study presents a conceptual model to examine the factors influencing career choice in financial planning. Informed by career choice theory, the study uses questionnaires and interviews of financial advisers and financial planning students in Australia to find that social learning through life experiences, along with the enjoyment of working with numbers and aspiration to help others are important factors influencing the choice to pursue a career in financial planning. In addition, respondents scored highest on the agreeableness scale of the ‘Big Five’ personality test.
Contrary to popular media reports, results show that people choose financial planning as a career primarily because they want to help people. Findings also highlight the uniqueness of financial planning as a career that fulfils both agentic and communal goals which allows advisers to use their interest in numbers to help people. The study makes a valuable practical contribution to the development of financial planning by providing insights that may prove useful in recruiting the next generation of financial advisers. Our findings also have important implications for educators, regulators, and the profession more broadly. Further, it makes a theoretical contribution by providing a conceptual framework to aid in understanding the factors relevant to career choice, particularly in an emerging discipline such as financial planning where information on career choice is limited.
</abstract>

Factors Influencing the Motivation to Pursue a Career in Financial Planning<xref ref-type="fn" rid="j_fprj-2022-0003_fn_001">*</xref>

<abstract xmlns="http://www.w3.org/1999/xhtml">

Research has shown that investment success is largely driven by asset allocation. With the dramatic growth in number of exchange-traded funds (ETFs), individual investors have gained access to a wicie variety of funds including funds representing non-traditional asset classes, This proliferation of ETFs allows investors to take advantage of high return alternatives while maintaining an asset allocation that is well diversified. This paper explores the potential for creating effcient portfolios using ETFs exclusively. We use price data from 2007 to 2017 for thirty-four ETFs to demonstrate that a portfolio of ETFs based on an average optimal weight allocation has a higher Sharpe ratio than 85 percent of the ETFs studied. Constructing effcient portfolios based on the average of optimized weights improves this portfolio’s returns by 370 basis points and increases the Sharpe ratio significantly as compared with ex ante mean-variance optimization. We conclude that investors can benefit from using average optimized weights in building portfolios made up primarily of ETFs.
</abstract>

Efficient Asset Allocation for Individual Investors in the ETF World

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) 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 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 users to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscript screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process.

Financial Planning Research Journal

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

Can Personal Budget Management Services Improve Debt Repayments? A Study Using Budget Data*

Retirees, Financial Planning Horizon, and Retirement Satisfaction

Factors Influencing the Motivation to Pursue a Career in Financial Planning*

Efficient Asset Allocation for Individual Investors in the ETF World

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