Journal of Financial Planning: March 2018
Executive Summary
- Empirically validated financial psychology tools have been developed for use in the financial planning field. However, some f inancial planners are hesitant to integrate such tools into their work with clients because they fear they are unqualified.
- The Klontz Money Script Revised Inventory (KMSI-R) has been empirically validated to identify beliefs around money that may impact financial behaviors.
- A four-step framework is pre sented here to provide financial planners a guide to administer, assess, and deliver the KMSI-R inventory and results to clients.
- A case study provides planners an example of when to provide the assessment, how to introduce and frame it, how to deliver the results to encourage mutual understand ing, and how to incorporate the f indings into work with their clients.
Click HERE to read this article in its entirety as a PDF.
Topic
Research