Academic Research Colloquium for Financial Planning and Related Disciplines
February 20-22, 2018

Signature Sponsor

Merrill Lynch


TUESDAY, FEBRUARY 20
8:00 a.m. Registration Opens
9:00 a.m. – 12:00 p.m.

Doctoral Seminar

Journey to PhD Discussion
Pavel Brendler, University of Wisconsin

What is Reality? A look at how subjective perceptions of financial wellness compare to objective measures for older Americans
Jacob Tenney, CFP®, Texas Tech University

The Good, the Bad, and the Ugly of Academic Publishing
Ron Hill, George Washington University

Charitable, Religious, and Family Estate Planning Attitudes among African-Americans
Jennifer Lehman, CFP®, Texas Tech University

AACSB Discussion with PhD Students
Dr. Tom Robinson, CFP®, AACSB International

12:00 p.m. – 7:15 p.m. Exhibits Open
1:00 p.m.  

Opening General Session

Dr. Abigail Sussman
Booth School of Business, University of Chicago  

2:30 p.m. Break
2:45 p.m.

Concurrent Sessions – Paper Presentations

“Alexa, Can You Plan My Retirement?” Cognitive Resource Depletion and Human versus Computer-Mediated Financial Planning Interaction
Nils Olsen, George Washington University
Zhuo Jin, George Washington University
Vanessa G. Perry, George Washington University

Interactions between Human and Statistical Decision-Makers: A Review with Implications for Automated Planning
Jason S. McCarley, Oregon State University

Optimal Financial Knowledge and Wealth Inequality
Annamaria Lusardi, George Washington University and National Bureau of Economic Research
Pierre-Carl Michaud, HEC Montréal and RAND
Olivia S. Mitchell, Wharton School, University of Pennsylvania and National Bureau of Economic Research

On Institutional Trading, Behavioral Bias, and Demand for Liquidity
Sugato Chakravarty, Purdue University
Rina Ray, University of Colorado-Denver

Retirement Savings, Consumption and Tax Incentives: Evidence from a Natural Experiment
Sumit Agarwal, Georgetown University

Consumption, Debt, and Delinquency Responses to an Anticipated Increase in Cash-on-Hand
Philippe F. d’Astous, HEC Montréal

3:45 p.m. Break
4:00 p.m.

Concurrent Sessions – Paper Presentations

Late-Life Disability, Homeownership, Wealth, and Mortality
Patryk Babiarz, University of Georgia
Tansel Yilmazer, CFP®, Ohio State University

Spending, Relationship Quality, and Life Satisfaction in Retirement
Michael S. Finke, CFP®, The American College of Financial Services/Texas Tech University
Nhat Ho, Eastern New Mexico University
Sandra J. Huston, Texas Tech University

Dominated Financial Choices by Low-Income Consumers within the Individual Health Insurance Market
John Hsu, Harvard University Medical School
V Fung, Harvard University Medical School

Combating the “now”: Exploring the relationships between time preferences, sophisticated behavior, and perceived financial security
Brianna Middlewood, Consumer Financial Protection Bureau
Alycia Chin, Consumer Financial Protection Bureau
Melissa Knoll, Consumer Financial Protection Bureau
Heidi Johnson, Consumer Financial Protection Bureau

The Effect of Pooling Financial Resources on Relationship Satisfaction
Emily N. Garbinsky, University of Notre Dame
Joe J. Gladstone, University College London
Cassie Mogilner, University of California Los Angeles

The Impact of Shared Decision-Making on Overconfidence: The Financial Planning Challenge and Opportunity
Dee Warmath, University of Wisconsin-Madison
Dominik M. Piehlmaier, University of Wisconsin-Madison
Cliff A. Robb, University of Wisconsin-Madison

5:00 p.m. Break
5:15 p.m.

Financial Planning Review Best Paper Award in Investments

Keynote Session
Meet the Editors of Financial Planning Review
Dr. Vicki Bogan, SC Johnson College of Business, Cornell University
Dr. Chris Geczy, Wharton School, University of Pennsylvania
Dr. John Grable, CFP®, University of Georgia
Dr. Charles Chaffin, CFP Board Center for Financial Planning

Sponsored by:

6:15 p.m.

Evening Reception and Poster Session I

Comprehensive Planning for a Stochastic Retirement
Chris Robinson, CFP®, York University (Canada)

The Effect of Student Loans on Homeownership and Home Equity
Guopeng Cheng, University of Missouri

Financial Decision Power and Household Wealth: The Role of Personality and Cognitive Ability
Yilan Xu, University of Illinois
Rui Yao, CFP®, University of Missouri

Financial Literacy and Financial Decisions of Millennials in the United States
Kyoung Tae Kim, University of Alabama
Somer G. Anderson, Maryville University/Kansas State University
Martin C. Seay, CFP®, Kansas State University

Financial Planning for Health Care Expenditures in Retirement
Lance Hocutt, Lance Hocutt Financial Group
Curry W. Hilton, University of Alabama

Gender Differences in Retirement Planning Behavior: An Examination of the Determining Factors
Amy Hubble, CFP®, University of Georgia
Youngjoo Choung, University of Georgia
Swarn Chatterjee, University of Georgia

The Household CFO: Using Job Analysis to Define Tasks Related to Personal Financial Management
Sarah S. Fallaw, DataPoints LLC
Michelle Kruger, University of Georgia
John E. Grable, CFP®, University of Georgia

How Negative Screening According to Christian Principles Influences Stock Returns
Shane Enete, Kansas State University
Elizabeth Kiss, Kansas State University

Integrating the Human Element of Advising with Technology: A Futuristic Approach
Mark Schild, CFP®, Seton Hall University
Elven Riley, Seton Hall University

Investing in Little Johnny’s Sports Dream versus Saving in a 529 Plan: A Good Decision?
Pamela A. Turner, CFP®, North Carolina A&T State University
Danielle D. Winchester, North Carolina A&T State University

Is Early Exposure to Financial Education Associated with Positive Financial Behaviors?
Lua Augustin, Texas Tech University
Terrance K. Martin, University of Texas/Texas Tech University

Risk Tolerance Profile of Cash-Value Life Insurance Owners
Zheying Yao, University of Missouri
Abed Rabbani, CFP®, University of Missouri

What Are the U.S. Retirement Population Comprehensive Assets Success Rates?
Chia-Li Chien, CFP®, Value Growth Institute/Ball State University

What Is Reality? A Look at How Subjective Perceptions of Financial Wellness Compare to Objective Measures for Older Americans
Jacob Tenney, CFP®, Texas Tech University
Charlene M. Kalenkoski, CFP®, Texas Tech University

Who Uses Fintech Financial Services and What Influences Their Decisions to Adopt New Financial Services Technologies
Robert Killins, CFP®, Seneca College
John Harris, Seneca College

WEDNESDAY, FEBRUARY 21
8:00 a.m. Breakfast
8:00 a.m. – 5:00 p.m. Exhibits Open
9:00 a.m. – 5:00 p.m. Faculty Interviews
9:00 a.m.

Keynote Session

Dr. John Lynch
Leeds School of Business, University of Colorado

Merrill Lynch Student Best Paper Award

Merrill Lynch

10:15 a.m. Break
10:30 a.m.

Poster Session II

Sponsored by:

Black-White Differences in Life Insurance Ownership among Middle-Income Couples
Miranda Reiter, Kansas State University
Stuart J. Heckman, CFP®, Kansas State University

The Cost of Caring: Out-of-Pocket Expenditures and Financial Hardship among Canadian Carers
Karen Duncan, University of Manitoba
Shahin Shooshtari, University of Manitoba
Kerstin Roger, University of Manitoba
Janet Fast, University of Alberta
Jing Han, University of Manitoba

The CPP Decision
Narat Charupat, McMaster University
Mahmut Parlar, McMaster University

The Effect of Having an Education Loan on Having a Heavy Financial Obligations Burden
CoCo Ouyang, Ohio State University

The Effect of Myopic Behavior on Stock Market Risk Perception
Yi Liu, Texas Tech University
Michael A. Guillemette, CFP®, Texas Tech University

Factors Related to Volatility in Current Household Income: Implications for Financial Planning
Sherman D. Hanna, Ohio State University
Kyoung Tae Kim, University of Alabama
Eunice J. Hong, Ohio State University

Finding a Friend in Turmoil: A Study of Directly Held Equity and the Dynamics of Financial Advice during the Great Recession
Aman Sunder, College for Financial Planning

Fragile Families’ Challenges for Emergency Fund Preparedness
Abed Rabbani, CFP®, University of Missouri
Zheying Yao, University of Missouri

Gender Differences in Stock Ownership
Chen Xu, University of Missouri
Rui Yao, CFP®, University of Missouri

Household Debt, Well-Being, and Risky Behavior among Young Adults: Evidence from a National Panel Study
Jinhee Kim, University of Maryland
Swarn Chatterjee, University of Georgia

The Investigation of Determinants of Retirement Plan Selection among University Employees
Narang Park, University of Georgia
Kenneth White, University of Georgia

Investments in Socially Responsible Funds: Is Good Better than the Great?
Nandita Das, CFP®,
Delaware State University
Bernadette Ruf, Delaware State University
Aman Sunder, College for Financial Planning
Swarn Chatterjee, University of Georgia

The Relationship between Financial Planner Use and Listing Retirement as an Important Saving Goal
Kyoung Tae Kim, University of Alabama
Tae-Young Pak, University of Alabama
Su Hyun Shin, University of Alabama
Sherman D. Hanna, Ohio State University

Relationships among Financial Strain, Financial Self-Efficacy, and Financial Behaviors
Jinhee Kim, University of Maryland
Mariana Falconier, Virginia Tech

Time and Chance: Understanding the Importance of Risk for Financial Planning
Bonnie-Jeanne MacDonald, Ryerson University
Richard J. Morrison, Independent
Marvin Avery, Human Resources and Skills Development

Who Is Using Robo-Advisory Services and Who Is Not?
Martha Fulk, University of Georgia
Kimberly Watkins, University of Georgia
Michelle Kruger, University of Georgia

11:30 a.m.

Concurrent Sessions – Paper Presentations

The Impact of Salience on Investor Behavior: Evidence from a Natural Experiment
Cary Frydman, University of Southern California
Baolian Wang, Fordham University

Household Financial Planning Strategies for Managing Longevity Risk
Vickie L. Bajtelsmit, Colorado State University
Tianyang Wang, Colorado State University

Do as I Say, Not as I Do: An Analysis of Portfolio Development Recommendations Made by Financial Advisors
John E. Grable, CFP®, University of Georgia
Amy Hubble, CFP®, University of Georgia
Michelle Kruger, University of Georgia

The Effect of Familiarity with Foreign Markets on Institutional Investors’ Performance
Mark Fedenia, University of Wisconsin-Madison
Hilla Skiba, Colorado State University
Tatyana Sokolyk, Brock University

‘I’ll Have What She’s Having’: Identifying Social Influence in Household Mortgage Decisions 
W. Benedict McCartney, Duke University
Avni Shah, University of Toronto

Don’t Watch Me Read: How Mere Presence and Mandatory Waiting Periods Affect Consumer Decisions with Disclosures
Alycia Chin, Consumer Financial Protection Bureau
Dustin H. Beckett, Consumer Financial Protection Bureau

Earnings Inequality and Income Redistribution through Social Security
Pavel Brendler, University of Wisconsin

Influence of Future Orientation on Household Leverage in the Netherlands
David A. Ammerman, West Texas A&M University
Maurice MacDonald, Kansas State University
12:30 p.m. Lunch and Visit Exhibitors
1:10 p.m.

Keynote Session

Dr. Tom Warschauer, CFP®
Fowler College of Business, San Diego State University

TD Ameritrade Institutional Best Paper Award for Behavioral Finance

TD Ameritrade

2:15 p.m.

Break

2:30 p.m.

Concurrent Sessions – Paper Presentations

Drawing Down Retirement Savings – Do Pensions, Taxes and Government Transfers Matter Much for Optimal Decisions?
Bonnie-Jeanne MacDonald, Ryerson University
Richard J. Morrison, Independent
Marvin Avery, Human Resources and Skill Development
Lars S. Osberg, Dalhousie University

Are Separately Managed Accounts Efficient Investments? A Comparison Study with ETFs
Yuanshan Cheng, CFP®, Winthrop University
Harold Evensky, CFP®, Texas Tech University
Tao Guo, CFP®, William Paterson University
Xianwu Zhang, Texas Tech University

Framing Longevity Income
Michael A. Guillemette, CFP®, Texas Tech University
Jesse B. Jurgenson, Iowa State University
Deanna L. Sharpe, CFP®, University of Missouri
Xianwu Zhang, Texas Tech University

The Age and Gender Effects on a Conceptual Framework of Household Financial Help-Seeking Behavior
Lu Fan, University of Missouri
Swarn Chatterjee, University of Georgia

Income Portfolios and Liability-Driven Investing
Thomas Idzorek, Morningstar
David M. Blanchett, CFP®, The American College of Financial Services/Texas Tech University

Responses to Saving Commitments: Evidence from Mortgage Run-Offs
Steffen Andersen, Copenhagen Business School
Philippe F. d’Astous, HEC Montréal
Jimmy Martinez-Correa, Copenhagen Business School
Stephen H. Shore, Georgia State University

4:00 p.m. Break
4:15 p.m.

Keynote Session

Dr. Jennifer Greene
University of Illinois at Urbana-Champaign

Northwestern Mutual Best Paper Award for Insurance/Risk Management

Northwestern Mutual

5:30 p.m. Dinner on own
THURSDAY, FEBRUARY 22
8:00 a.m. Breakfast
8:00 a.m. – 11:15 a.m. Exhibits Open
8:00 a.m. – 11:15 a.m. Faculty Interviews
9:00 a.m.

Keynote Session

Dr. Michael Liersch
JPMorgan Chase

10:15 a.m. Break
10:30 a.m.

Concurrent Sessions – Paper Presentations

If You Get Me, I’ll Hire You: Role of Empathy in Black Consumers’Choice to Use a Financial Advisor
Danielle D. Winchester, North Carolina A&T State University
Roland L. Leak, North Carolina A&T State University

Feeling Rich: Disposable Income and Investor Rationality in the Market for Mutual Funds
Swasti Gupta-Mukherjee, Loyola University Chicago

Behavioral and Non-Behavioral Factors Affecting Will and Trust Ownership
Zhikun Liu, Texas Tech University
Russell N. James, CFP®, Texas Tech University

A Comparison Study of Retirement Income Bucket Strategies
Yuanshan Cheng, CFP®, Winthrop University
Tao Guo, CFP®, William Paterson University
Harold Evensky, CFP®, Texas Tech University 

Charitable, Religious, and Family Estate-Planning Attitudes among African Americans
Jennifer Lehman, CFP®, Texas Tech University

When Couples Spar over Money: Financial Advisors as Mediators
Werner F.M. DeBondt, DePaul University
Auke Plantinga, University of Groningen

12:00 p.m. Colloquium Concludes
12:00 p.m. – 12:45 p.m. Lunch