8 Questions to Evaluate Financial Planning Research


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Dave Yeske at Closing Circle of FPA Retreat 2016

In order to emerge as a true profession, the financial planning industry needs to base its practices on research-based writing.

That’s what Dave Yeske, DBA, CFP®, co-owner of the planning firm Yeske Buie, told FPA Retreat attendees at his session on how to read and apply research-based writing.

“We need to deepen our connection with academics,” Yeske said. “They know how to conduct research but they don’t always know what the critical questions are that you need answers to.”

The Journal of Financial Planning, of which Yeske is practitioner editor, is one of many outlets that supply practitioners with research-based writing, but those articles aren’t so helpful if you aren’t sure exactly how to read them.

Yeske provided eight questions to ask yourself in order to better evaluate research-based writing.

  1. What is the problem or question? What are the researchers trying to address?
  2. How did they conceptualize that problem, how did they structure it? Look for what the researchers are measuring. For example, client trust and relationship commitment have become well-represented measures in financial planning literature.
  3. What are the key findings from prior research? Good research will build on research that came before to lay the foundation for the current research to build upon.
  4. What was their methodology? Does it seem like the researchers make sense?
  5. What were the results of the testing? A formal academic paper will never prove anything, Yeske said, rather it will fail to disprove something.
  6. Were the results compelling? Did the authors connect all the dots for you? Did their data answer the question?
  7. What are the practical applications? Do the researchers tell you how you could use this information? If not, are you still able to find a practical use for the data that is being presented?
  8. Will this change the way I practice? Will I be able to incorporate this into my practice?

“As a profession we need to all become better at recognizing research-based writing and be able to apply it,” Yeske said.

See Yeske’s presentation here.

Yeske also has a remote course on this subject through Golden Gate University, where he serves as the director of financial planning. Find out more here.

Also, you could participate in the Financial Planning Association’s Theory in Practice Knowledge Circle.

Did you miss Retreat this year, or just want to register for 2017 early? Join us next year at Château Élan in North Atlanta, Georgia April 24-27, 2017. Use the code PARET17 for $100 off if you register before May 31, 2016.

AnaHeadshotAna Trujillo
Associate Editor
Journal of Financial Planning
Denver, Colo.



4 thoughts on “8 Questions to Evaluate Financial Planning Research

  1. Thanks for sharing this. There’s a lot to be learned from research-based writing, but you can only learn as much as you know to look out for. Being able to find the relevant information and figure out how to apply it to your practices and operation makes all the difference.

  2. I’d like to find out more? I’d care to find out some additional information.

  3. Coming to know ourselves better on how we personally plan and deal with things is so important. Also being able to write in a personal journal.

  4. My husband and I were talking the other day, and I think it would be a great idea for us to talk to a financial planner. We are getting to the point we need to start saving for retirement, and our kid’s college tuition. These questions would be a great way to start!

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