The Certified Financial Planner Board of Standards has released a companion guide to The Psychology of Financial Planning, a six-part book published last April that deals with topics such as client and planner attitudes and behavioral finance.
The board said it created The Psychology of Financial Planning: Practitioner Resource Guide to provide financial planners with practical knowledge and methodologies to apply the concepts described in the book in their work with clients. “This resource guide equips CFP professionals with indispensable tools to integrate the psychology of financial planning into their practice,” it said.
Both publications address “the Psychology of Financial Planning Principal Knowledge Domain,” which was introduced to the CFP certification curriculum for the first time last April. That decision followed the board’s 2021 Practice Analysis Study, which the board describes as “the largest research project in the U.S. related to the body of knowledge for financial planning.” It is used to verify and update the content of CFP Board’s certification requirements.
The guide, which can be read after or in conjunction with the book, includes step-by-step guides, list of do’s and don’ts, practical exercises and assessments, the board said.
“After the launch of The Psychology of Financial Planning, it was clear that CFP professionals wanted additional guidance on the subject,” CFP Board Kevin Keller said in a statement. He added that the guide is a “practical resource to assist CFP professionals with integrating this vital knowledge in their work with clients.”
The e-book and printed version of the guide are available either separately or together, at an introductory price of $20 off through August, and can be purchased on CFP Board’s website at CFP.net/psychology. Bulk pricing is also available, the board said.