Campus Units
Human Development and Family Studies
Document Type
Article
Publication Version
Accepted Manuscript
Publication Date
12-26-2020
Journal or Book Title
Financial Planning Review
Volume
e1103
DOI
10.1002/cfp2.1103
Abstract
This article provides a brief summary and review of the impact of the COVID‐19 pandemic on household finances. The stressors related to the pandemic are evaluated as either transitory or permanent shocks to both the practice of financial planning and client financial concerns. Based on qualitative responses from practicing financial planners, changes in practice and client concerns as a result of the pandemic are outlined. At the global level, respondents shared that the practice of financial planning has accelerated its adoption of communication technology while clients are experiencing unprecedented levels of stress related to changes in health, the economy, and the political landscape in the United States. Insights and observations from the sample of practicing financial planners are used to inform recommendations for practice.
Copyright Owner
Certified Financial Planner Board of Standards Inc.
Copyright Date
2020
Language
en
File Format
application/pdf
Recommended Citation
Fox, Jonathan and Bartholomae, Suzanne, "Household finances, financial planning, and COVID‐19" (2020). Human Development and Family Studies Publications. 137.
https://lib.dr.iastate.edu/hdfs_pubs/137
Included in
Civic and Community Engagement Commons, Emergency and Disaster Management Commons, Family, Life Course, and Society Commons, Finance Commons, Medicine and Health Sciences Commons
Comments
This article is published as Fox, J.J., Bartholomae, S., Household finances, financial planning, and COVID‐19. Financial Planning Review . Dec 2020. e1103. doi: 10.1002/cfp2.1103. Posted with permission.