Work-Life Balance and Burnout in Financial Planning Profession

Posted: 22 Jul 2022

See all articles by Aman Sunder

Aman Sunder

College for Financial Planning

Jennifer Lehman

George Fox University

Rebecca Henderson

College for Financial Planning

Date Written: June 10, 2022

Abstract

This study examines the work environment outcomes in the financial planning profession, job-related burnout, and work-life balance satisfaction, using a convenience sample of survey respondents employed in the financial planning profession. The study compares subgroups based on gender, job role, firm size, and their CFP® certification controlling for relevant factors such as type of industry, weekly working hours, work-life conflict, the flexibility provided by the employer, and demographics. Results indicated that the women in smaller firms are more satisfied with work-life balance. In general, smaller firm sizes are associated with lower personal accomplishment, higher satisfaction from work-life balance, and lower impersonal response toward clients measured by Depersonalization scores of Maslach Burnout Inventory (MBI). MBI Depersonalization scores are higher for CEOs and owners of the firms. In addition, the CFP® certification is associated with greater satisfaction from work-life balance. The results build on previous research to provide insight into aspects that can improve participation in the profession. Future research should find ways to attract diverse participants to improve success and satisfaction outcomes for all professionals and firm sizes.

Full Text Available Here:
https://doi.org/10.1002/cfp2.1145

Suggested Citation

Sunder, Aman and Lehman, Jennifer and Henderson, Rebecca, Work-Life Balance and Burnout in Financial Planning Profession (June 10, 2022). Financial Planning Review, Volume 5, Issue 2-3, June-September 2022, Available at SSRN: https://ssrn.com/abstract=4169837

Aman Sunder (Contact Author)

College for Financial Planning ( email )

9000 E. Nichols Ave
STE 200
Centennial, CO 80112
United States
7853176604 (Phone)

Jennifer Lehman

George Fox University ( email )

414 N. Meridian Street
Newberg, OR 97132
United States

Rebecca Henderson

College for Financial Planning ( email )

9000 E Nichols Avenue
Suite 200
Centennial, CO 80112
United States

HOME PAGE: http://cffpinfo.com

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