Three Academic Researchers Honored for Work Advancing Financial Planning
The Journal of Financial Planning honored research on how retired households spend, and on the difference between financial stress and financial anxiety.
Three academic researchers are being honored for their work by the Financial Planning Association and the Journal of Financial Planning.
The recipients of the 2024 Best Research Award are David Blanchett, Ph.D., CFA, CFP; Kristy L. Archuleta, Ph.D., LMFT, CFT-I; and Timothy Todd, Ph.D., JD.
“Each year, FPA takes great pride in showcasing groundbreaking research at our Annual Conference and within the Journal of Financial Planning, which enriches the knowledge base of our profession,” FPA President Paul Brahim said in a news release. “The exceptional researchers we honor have produced innovative studies that empower practitioners to stay at the forefront of the profession and enable them to meet their clients’ needs effectively.”
Researchers presented their papers at the FPA’s annual conference, held in Columbus, Ohio, from Sept. 18 to 20.
Blanchett, managing director and head of retirement research for PGIM DC Solutions, was honored for his work on retirement consumption optimization. His paper, “Retirees Spend Lifetime Income, Not Savings,” investigated how retired households use their resources to pay for consumption and avoid underspending.
Archuleta, the Betsy Barnard Sages Professorship in Financial Therapy and Financial Planning and professor of financial planning and housing and consumer economics at the University of Georgia, and Todd, dean and professor of law at Liberty University School of Law, outlined conceptual frameworks to enable financial planners to distinguish between financial anxiety and financial stress. Their paper, “Let’s Talk About Financial Stress and Anxiety: Is There a Difference?” said these two concepts are distinct and important for planners’ to understand in order to assess client needs.
“Clients’ needs are highly individualized to their circumstances and desires,” said Danielle Andrus, editor of the Journal of Financial Planning. “Research that helps them identify opportunities and optimize outcomes for each unique individual is an important contribution to the financial planning profession. We’re grateful to Drs. Blanchett, Archuleta and Todd for their work on these fundamental problems and look forward to seeing the research applied by practitioners in the future.”
