Four academics have been named to receive the 2023 Best Research Award by the Financial Planning Association and the Journal of Financial Planning.

The award is given each year to the researchers who contribute to the advancement of the financial planning profession. The 2023 winners are David Blanchett, Timothy Todd, Michael Kothakota and HanNa Lim.

The work of the four academics was presented at the FPA’s 2023 Annual Conference in Phoenix in September.

Blanchett was presented with the award for his research, called "Tax Loss Harvesting: Check Your Frequency." Blanchett is managing director and head of retirement research for PGIM DC Solutions. His presentation and research suggested a new approach to tax-loss harvesting that can help financial planners work within constraints to realize gains for their clients, the FPA said.

Todd, Kothakota and Lim won the award for their work, called “Evaluating the Impact of Emergency Savings on Mental, Behavioral, and Future Goal Outcomes.”

Todd is associate dean for faculty development and scholarship and professor of law at Liberty University School of Law. Kothakota is CEO of WolfBridge Wealth and a lecturer at Columbia University. Lim is a professor at California State University-Fullerton.

Their research and presentation demonstrated how guidance that’s taken for granted affects client outcomes, including the clients’ financial stability and mental well-being, risk willingness, and equity allocations, FPA said.

The work of the four awardees “helps financial planners understand important financial planning topics to serve their clients at the highest levels of competency and ethics,” said Danielle Andrus, editor of the Journal of Financial Planning, in a statement.

"Every year, FPA is honored to highlight the latest in research that builds the base of knowledge in our profession," said FPA President James Lee, in a statement. "These outstanding researchers have contributed new research that will keep practitioners on the cutting edge so they can best serve the needs of their clients."