The Value of Financial Planning: A Theoretically Grounded Approach
This paper lays a foundation for quantifying the interaction “value” effects of the financial planner/client relationship through the lens of Financial Planning Client Interaction Theory (FPCIT), utilizing integration—a mathematical process commonly used in calculus to find the area under a curve...
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| Format: | Article |
| Language: | English |
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University of Wollongong
2024-01-01
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| Series: | Australasian Accounting, Business and Finance Journal |
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| Online Access: | https://ro.uow.edu.au/cgi/viewcontent.cgi?article=2334&context=aabfj |
| Summary: | This paper lays a foundation for quantifying the interaction “value” effects of the financial
planner/client relationship through the lens of Financial Planning Client Interaction Theory
(FPCIT), utilizing integration—a mathematical process commonly used in calculus to find the
area under a curve. FPCIT recently emerged in response to practitioner and researcher calls for
theory specific to the financial planning profession. FPCIT posits that the distinction of the
professional practice of financial planning and its value to consumers is centered upon the
unique and complex human interaction phenomenon inherent in the client relationship. FPCIT
extends the value of financial planning discussion by offering a theory-based vantage point
from which the profession can analyze the origins and synthesis of value within financial
planning practice. The implications of FPCIT and the valuation method presented in this paper
underscore the relevance of financial therapy, counseling, and psychology in expanding the
financial planner’s skillset beyond technical expertise. |
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| ISSN: | 1834-2000 1834-2019 |