The CFP Board Center for Financial Planning wants to enhance the knowledge about behavioral finance by encouraging academic research, the center and TD Ameritrade Institutional announced Wednesday.

The two entities will honor the best paper written about behavioral finance with the first TD Ameritrade Institutional Best Paper Award for Behavioral Finance. The award will be presented at the inaugural Academic Research Colloquium for Financial Planning and Related Disciplines in Washington, D.C., February 7-9.

The author of the best paper will receive $2,500.

The award will recognize the best research paper that brings psychological insight into human behavior and decision-making with implications for financial planning practice.

“Financial planning isn’t just about managing investments and crunching numbers. Advisors need to truly understand how their clients think about money and their emotional response to financial market trends,” says Kate Healy, managing director of marketing at TD Ameritrade Institutional. 

The Center for Financial Planning’s Colloquium is designed to gather the global academic community to showcase rigorous and relevant research within financial planning and related disciplines that directly or indirectly relates to financial planning practice and the body of knowledge around it.