A Snapshot View of the Help-Seeking Market

Grable, John E.; So-Hyun Joo
March 2003
Journal of Financial Planning;Mar2003, Vol. 16 Issue 3, p88
Academic Journal
This article provides a profile of the help-seeking behaviors of university faculty and staff who have sought help for financial issues. Some observers of the financial planning profession have argued that the maturing of the U.S., in terms of age and wealth, will cause a radical change in the financial planning industry. Ultimately, the growth of any financial planning practice in the future will rest on a planner's ability to simultaneously improve current client outcomes and increase the recruitment of new clients, especially those who have been underserved by the financial planning profession. An obvious, but underserved, market for financial planning services exists among university faculty and staff. Consider the demograpbic trends among this group. University and college faculty hold roughly 865,000 positions in the U.S. Seventy percent of faculty work full time, and most work for public institutions. Financial help-seeking is operationally defined as an action by an individual to seek and use the assistance of a secondary source when dealing with a personal finance issue, problem or objective. Theory suggests that individuals are proactive in seeking help for a problem, issue or question.


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