Specific Elements of Communication that Affect Trust and Commitment in the Financial Planning Process

16 Pages Posted: 6 Mar 2013

See all articles by Deanna L. Sharpe

Deanna L. Sharpe

University of Missouri at Columbia

Carol Anderson

Money Quotient

Andrea White

Financial Conversations®

Susan Galvan

The Kinder Institute

Martin Siesta

Compass Wealth Management LLC

Abstract

This study used survey data from 554 planners and 128 clients of those planners to examine the relationship between specific communication tasks, communication skills, communication topics, and client trust in and commitment to their financial planner and to the financial planning process. Communication skills significantly correlated with client trust and commitment were identified, providing an empirical basis for best practices in the financial planning process. Results provide empirical support for CFP® Practice Standards relative to planner-client communication tasks and for planners taking a life planning approach to the content of planner-client discussions.

Keywords: commitment, communication, financial planning, life planning, trust

Suggested Citation

Sharpe, Deanna L. and Anderson, Carol and White, Andrea and Galvan, Susan and Siesta, Martin, Specific Elements of Communication that Affect Trust and Commitment in the Financial Planning Process. Journal of Financial Counseling and Planning, Vol. 18, No. 1, 2007. Available at SSRN: https://ssrn.com/abstract=2228777

Deanna L. Sharpe (Contact Author)

University of Missouri at Columbia ( email )

Consumer and Family Economics
Columbia, MO 65211
United States
573-882-9652 (Phone)
573-884-8389 (Fax)

Carol Anderson

Money Quotient ( email )

17667 Noll Road NE
Poulsbo, WA 98370
United States

Andrea White

Financial Conversations® ( email )

AZ
United States
(480) 777-8876 (Phone)

Susan Galvan

The Kinder Institute ( email )

P.O. Box 23185
Pleasant Hill, CA 94523
United States

Martin Siesta

Compass Wealth Management LLC ( email )

55 Burnett Terrace
Maplewood, NJ 07040
United States

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
275
Abstract Views
1,180
rank
120,359
PlumX Metrics