National Leadership in Research

The Financial Planning Foundation's funding priorities include the development and dissemination of two types of research:

  • Research (technical and behavioural) that serves to enhance the practice of financial planning delivered to Canadians
  • Research that reflects the impact of financial planning on society

Support the FP Foundation by making an investment in critical research today.


Request for Proposals: Financial Planning Implementation Gap

The FP Foundation invites proposals from researchers and educators to help explain what is sometimes referred to as the "implementation gap", that is, the gap between the advice financial advisors provide and the action that clients actually take. The FP Foundation is seeking qualified researchers and educators to review existing literature and research in behavioural economics, distilling the information to help explain this gap. A number of possible reasons for the gap should be explored, including but not limited to:

  • Client behaviours or decision making that may be impeding action
  • Advisor behaviours that may be impeding client action (e.g., advisor biases, the way the advisor frames recommendations, etc.)
  • Other factors that may be deterring client action, such as the size and/or content of financial plans developed and presented

If you are interested in distilling, interpreting, making sense of and supplementing existing research and literature in human behaviour to enhance the way financial planners engage with clients and deliver financial planning recommendations to clients to motivate client action, please submit your proposal by September 22, 2017.

Learn more about the FP Foundation's Request for Proposals.


Recent Research: Behavioral and wealth considerations for seeking professional financial planning help

This research, funded by the FP Foundation and carried out at Toronto's York University in 2015, was recently published in the Financial Services Review, the Journal of Individual Financial Management and the official publication of the Academy of Financial Services. The study revealed that financial stress alone is not enough to motivate someone to seek financial help. Instead, it is self-efficacy—a person's belief in their ability to succeed by achieving a desired outcome—that is a consistent and strong predictor of help-seeking behaviour. The researchers offered specific suggestions that CFP® professionals can use to increase the likelihood of clients not only resourcing the help they need, but acting upon the advice they are given.


Current Research: Understanding your own financial wellness

The Financial Wellness Study, currently underway in partnership with CPA Canada, aims to help Canadians assess, articulate and ultimately improve their degree of financial wellness. By framing their view of financial wellness and what it means to them, they can better identify gaps between their current and desired state and more effectively communicate with the financial planners who can help them reach their goals.


PREVIOUS RESEARCH

The Foundation has also invested in the following research projects:

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