Results of the study "Self-Efficacy, Financial Stress, and the
Decision to Seek Professional Financial Planning Help" were
recently published in
Financial Services Review. A
French version is also available.
In this study, researchers at Toronto's York
University studied what motivates someone to seek financial
planning help. Using data from a longitudinal study commissioned by
Financial Planning
Standards Council, the researchers found that people with high
self-efficacy - that is, people who believe in their ability to
achieve a desired outcome - are more likely to consult a
personal financial planning professional.
This study was funded by the Financial Planning
Foundation,which the IQPF supports since June 2015. The
Foundation funds and promotes financial planning research and
education for the benefit of the public, financial planners,
academia and industry.