Financial Planning Competency Handbook, 2nd Edition

CHAPTER 78 Gathering Data from Clients:: Insights from Cognitive Task Analysis and Requirements Engineering

Kelly S. Steelman, PhD

Michigan Technological University

Jason S. McCarley, PhD

Flinders University

John E. Grable, PhD, CFP^®

University of Georgia

Lance Palmer, PhD, CPA, CFP^®

University of Georgia

Dave Yeske, DBA, CFP^®

Golden Gate University

Charles R. Chaffin, EdD

CFP Board

THE PLANNING PERSPECTIVE

Financial planning is a relatively new and emerging profession. Much of the body of knowledge regarding best practices and models of client interaction have been adopted based on practitioner knowledge and experience rather than on academically validated tools, techniques, and approaches. As with any profession, the goal is to bring practice and academia together in developing, questioning, and validating all elements of theory and practice.

The purpose of this chapter is to present insights into the data-gathering process from a non-financial planning perspective. The concepts, insights, and views expressed in this chapter are intended to inform and enlighten financial planning practitioners, students, and researchers about the exciting developments occurring in other fields that directly impact the practice of financial planning. Each of the Planning Perspective segments of this chapter are designed to offer a few implications of this theory for practice, with the hope that practitioners will consider new avenues for this theory in their practice and financial planning ...