Behavioral and wealth considerations for seeking professional financial planning help

This research, funded by the FP Foundation and carried out at Toronto's York University in 2015, was published in the Financial Services Review, the Journal of Individual Financial Management and the official publication of the Academy of Financial Services. The study revealed that financial stress alone is not enough to motivate someone to seek financial help. Instead, it is self-efficacy-a person's belief in their ability to succeed by achieving a desired outcome-that is a consistent and strong predictor of help-seeking behaviour. The researchers offered specific suggestions that professional financial planners can use to increase the likelihood of clients not only resourcing the help they need, but acting upon the advice they are given.