{"id":6772,"date":"2019-03-27T21:38:55","date_gmt":"2019-03-28T01:38:55","guid":{"rendered":"https:\/\/www.afcpe.org\/?p=6772"},"modified":"2019-04-23T15:38:50","modified_gmt":"2019-04-23T19:38:50","slug":"researchwednesday-financial-advice-and-other-desirable-financial-behaviors","status":"publish","type":"post","link":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/researchwednesday-financial-advice-and-other-desirable-financial-behaviors\/","title":{"rendered":"#ResearchWednesday: Financial Advice and Other Desirable Financial Behaviors"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6772\" class=\"elementor elementor-6772\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-569c3485 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"36937\" data-id=\"569c3485\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-15ec5961\" data-eae-slider=\"16764\" data-id=\"15ec5961\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-inner-section elementor-element elementor-element-30ca987d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"42064\" data-id=\"30ca987d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-66 elementor-inner-column elementor-element elementor-element-4e732e5f\" data-eae-slider=\"49259\" data-id=\"4e732e5f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ae0ecf9 elementor-widget elementor-widget-text-editor\" data-id=\"1ae0ecf9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><em><strong>Research brief contributed by\u00a0<\/strong><strong>Keith Moreland<\/strong><\/em><\/p><p><strong>Exciting Findings:<\/strong><\/p><p>The most exciting findings of my paper<sup>1<\/sup>\u00a0are that obtaining financial advice is associated with improved (more productive) financial behaviors, such as avoiding bank overdrafts, paying credit card balances on time and in full, establishing a retirement account, and checking credit scores\/reports. Further, this association is slightly stronger for individuals with somewhat lower levels of financial knowledge.<\/p><p><strong>Implications:<\/strong><\/p><p>The implications to financial advisors are that providing financial advice and counselling, even at \u2013 or perhaps especially at \u2013 basic levels \u2013 can be associated with tangible benefits in the form of better personal financial decisions by, and improved financial wellbeing for, their clients and other individuals in their communities. This advice can result in improved decision making in various life stages including students and parents planning to finance higher education, individuals looking to start a business, individuals considering a first home purchase, and retirees and those planning for retirement, to name a few.<\/p><p><strong>Continue the Conversation:<\/strong><\/p><p>Tell us what you think in the comments below or on\u00a0<a href=\"https:\/\/twitter.com\/AFCPE\">Twitter.<\/a><\/p><p><strong>Download the research (available to AFCPE members or by request from the authors):<\/strong>\u00a0Keith A. Moreland\u00a0(2018)\u00a0<a href=\"http:\/\/www.afcpe.org\/news-and-publications\/journal-of-financial-counseling-and-planning\">Seeking Financial Advice and Other Desirable Financial Behaviors<\/a>\u00a0(JFCP), 29 (2).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-663cb15c\" data-eae-slider=\"46831\" data-id=\"663cb15c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4004ceb4 elementor-widget elementor-widget-image-gallery\" data-id=\"4004ceb4\" data-element_type=\"widget\" data-widget_type=\"image-gallery.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-image-gallery\">\n\t\t\t<div id='gallery-1' class='gallery galleryid-6772 gallery-columns-1 gallery-size-full'><figure class='gallery-item'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a data-elementor-open-lightbox=\"no\" href='https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/03\/March_27.png'><img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"800\" src=\"https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/03\/March_27.png\" class=\"attachment-full size-full\" alt=\"\" srcset=\"https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/03\/March_27.png 800w, https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/03\/March_27-150x150.png 150w, https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/03\/March_27-300x300.png 300w, https:\/\/www.afcpe.org\/wp-content\/uploads\/2019\/03\/March_27-768x768.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a>\n\t\t\t<\/div><\/figure>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-32c68ff2 elementor-widget elementor-widget-text-editor\" data-id=\"32c68ff2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h4><span style=\"color: #5d89b3;\">March 27, 2019<\/span><\/h4><h4><em><span style=\"color: #5d89b3;\">Keith Moreland<\/span><\/em><\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-2e565330 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-eae-slider=\"6443\" data-id=\"2e565330\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3b5ccaa6\" data-eae-slider=\"58985\" data-id=\"3b5ccaa6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Research brief contributed by\u00a0Keith Moreland Exciting Findings: The most exciting findings of my paper1\u00a0are that obtaining financial advice is associated with improved (more productive) financial behaviors, such as avoiding bank overdrafts, paying credit card balances on time and in full, establishing a retirement account, and checking credit scores\/reports. Further, this association is slightly stronger for individuals with somewhat lower levels [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":6774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[16],"tags":[17],"class_list":["post-6772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-researchwednesday","tag-research"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>#ResearchWednesday: Financial Advice and Other Desirable Financial Behaviors - AFCPE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.afcpe.org\/news-and-publications\/blog\/researchwednesday-financial-advice-and-other-desirable-financial-behaviors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"#ResearchWednesday: Financial Advice and Other Desirable Financial Behaviors - AFCPE\" \/>\n<meta property=\"og:description\" content=\"Research brief contributed by\u00a0Keith Moreland Exciting Findings: The most exciting findings of my paper1\u00a0are that obtaining financial advice is associated with improved (more productive) financial behaviors, such as avoiding bank overdrafts, paying credit card balances on time and in full, establishing a retirement account, and checking credit scores\/reports. 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