Title

THEORIES OF THE FINANCIAL PLANNING PROFESSION.

Authors

Overton, Rosilyn H.

Abstract

Although it appears that a theoretical body of knowledge for the Financial Planning Profession has always existed, until recently theory was not often explored as such, and there was no written common understanding or agreement on the theoretical basis of the financial planning profession. A survey of the financial planning literature over the past 50 years was performed, and certain basic theories from many existing disciplines were identified, although their application in personal financial planning has sometimes resulted in modifications. The theories identified from the literature were compared with the financial planning educational topics list of the CFP Board of Standards and the core financial planning process was explored in detail. A definition of financial planning as values and goals-driven strategic management of the client's financial resources was fashioned and the financial planning process as the strategic planning process applied to the financial and economic resources of the person or family was also defined.

Subjects

FINANCIAL planners; FINANCIAL executives; INVESTMENT advisors; FINANCIAL planning; FINANCIAL management; WEALTH management services; PORTFOLIO management (Investments); FINANCIAL performance; FINANCIAL services industry

Publication

Journal of Personal Finance, 2008, Vol 7, Issue 1, p13

ISSN

1540-6717

Publication type

Academic Journal