3/31/2023 0 Comments Impact clientThe study provided insights into best practices to engage clients’ in a more committed manner and build trust. This research provided the opportunity to observe how well financial planners’ perspective on their client’s position on issues related to communication skills and tasks. In the original 2006 study, researchers surveyed planners and clients about effective communication and trust-building tasks within financial planning. Anderson and Sharpe were the lead researchers for the original study in 2006, and McCoy will serve as the principal investigator for the 2021 study. Sharpe, Ph.D., CFP ®, CRPC ®, CRPS ®, Associate Professor in the Personal Financial Planning Department at the University of Missouri and Megan McCoy, Ph.D., LMFT, CFT-I™, Professor of Practice and Director of the Personal Financial Planning Master’s Program at Kansas State University. The research will be conducted by the Money Quotient Research Consortium (MQRC), an interdisciplinary team of researchers and practitioners, and will be led by Carol Anderson, MS, President of MQ Research & Education and Vice President of Money Quotient, Inc. “I am delighted FPA has the opportunity to work with our partners at Allianz Life to support an important research initiative that will result in an updated, unique dataset that other organizations and we can learn from to better support the planning community.” “For financial planners to forge long-standing relationships with clients and earn an increased level of trust, they need to elevate their communications competencies,” says FPA CEO Patrick D. To ascertain how financial planner/client communication has changed over the past decade, the MQ Research Consortium, with the support of the Financial Planning Association ® (FPA ®) and Allianz Life Insurance Company of North America (Allianz Life), is renewing a 15-year-old study that examines communication best practices and how they impact the trust and commitment clients have in their planners. DENVER (May 25, 2021) - Demographic shifts, economic challenges, political transitions, environmental threats, and a global pandemic are all societal shifts that have changed how we communicate personally and professionally, which is especially true of service professions like financial planning, where trust is paramount.
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