CFP Board Adds Psychology of Financial Planning to Exam Topics
Prospective certified financial planners need to understand psychology and behavioral finance.
Author:
Apr 26, 2021 7:30 AM EDT
The Certified Financial Planner Board of Standards (CFP Board) recently added a new category titled “Psychology of Financial Planning” to the list of topics that prospective certified financial planner certificants will need to know to pass the CFP exam.
The updated topic, which will require knowledge of client and planner attitudes, values, and biases; behavioral finance; sources of money conflict; principles of counseling; general principles of effective communication; and crisis events with severe consequences, will be integrated in the education requirements for CFP certification and assessed on the CFP exam starting in March 2022.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Meir and Navah Statman Donate $3 Million for Faculty Excellence at Santa Clara University
April 22, 2021 GMT
Behavioral-finance pioneer and Santa Clara University professor
Meir Statman and his wife, retired manager and longtime mental health volunteer
Navah Statman MBA ’84, are donating $3 million to advance faculty excellence at Santa Clara University’s Leavey School of Business.
The funds will establish The Meir and Navah Statman Family Endowment for Finance Department Faculty Development and Research at the Leavey School. The endowment will further the academic quality, purpose, and mission of Santa Clara University as a Jesuit and Catholic University.
Why Wall Street’s ‘coolest’ stocks can leave investors cold MarketWatch 2/9/2021
FA CENTER
Wall Street’s most popular stocks are like the cool kids who won popularity contests in high school.
Yet many researchers have found that the winners of those contests often end up living far more troubled lives than the rest of us. One famous study found that the coolest kids at age 13 had, by the time they reached 23, a 40% greater rate of alcohol and marijuana abuse and a 22% greater rate of adult criminal behavior.
The analogy between cool kids and cool stocks is closer than you might think. Researchers have found that on average, the shares of the most-popular companies lag those of the least-popular companies.
Spend Less, and Smarter, in 2021
Last year we were just trying to roll with the punches. Hopefully now we can apply some of those survival skills to our finances.
Credit.Ka Young Lee
Jan. 2, 2021
For many people, 2020 was not a year for saving money. Even those who remained employed suddenly found themselves shelling out for unforeseen expenses: A used car because public transport suddenly seemed unsafe. A salary for a pod tutor to help their children with remote learning. Subscriptions to multiple streaming services to make life at home more tolerable.
And that’s the best-case scenario. Spending choices were more fraught if you or yours lost a job, fell behind on your rent or mortgage, or endured a health bill. Congress passed a sweeping stimulus bill (and a second) to help, but the influx of cash and debt relief also provoked a sense of whiplash: money coming in and money going out at uncertain times, and in unknown amounts.