The economic benefits of personal financial planning
An empirical analysis
DOI:
https://doi.org/10.61190/fsr.v21i3.4673Keywords:
Economic benefits, Consumer value, Household finance, Personal financial planningAbstract
Prior research has attempted to value the component services that may be included in a personal financial plan on a theoretical level. This research attempts to measure how those component services are actually valued by consumers based upon a national survey of consumers. It clearly shows that the various financial planning services are valued quite differently by consumers as a whole. In addition, these services are valued differently by different consumer groups. The article concludes that these finding could be used to tailor the services planning firms provide and those they emphasize in their marketing efforts.
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