The Role of Universities in the Development of the Personal Financial Planning Profession
DOI:
https://doi.org/10.61190/fsr.v11i3.4734Keywords:
Financial services, Professional education, Personal financial planningAbstract
I begin this paper with a discussion of the emergence of the personal financial planning profession from its financial services roots. I then provide definitions of financial planning from several points of view . After a review of the reasons for growth in the profession, I examine the relationship between universities and other planning constituents. In particular, I focus on the importance of education and practice standards in the development of the financial planning profession. Much research remains to be conducted to guide the practice of financial planning. I describe the state of the knowledge base for financial decisions, using an example. The paper concludes with a discussion of the role of universities in the fixture of the financial planning profession.
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