1、 外文翻译 原文 Promoting Applied Research in Personal Finance Material Source:Handbook of Consumer Finance Research Author: Sharon A.Burns The purpose of this chapter is to briefly summarize the role that a national professional association plays in bringing quality research to professional financial coun
2、selors and educators.This chapter also includes a brief,non-exhaustive review of personal finance research.A research agenda from the perspective of financial counselors and educators is proffered. Most national associations exist to assemble like-minded professionals who serve a similar population
3、or provide the same or similar products or services in various geographic markets.Four national associations serve personal finance practitioners:the Association for Financial Counseling and Planning Education (AFCPE),the Financial Planning Association(FPA),the National Association of Personal Finan
4、cial Advisors(NAPFA)and the CFP Board of Standards.The first three serve as professional associations for the purpose of enhancing the capacity of individual professionals to be successful.The purpose of the CFP Board of Standards is to develop and maintain the standards of the Certified Financial P
5、lanner designation.In the field of financial counseling,AFCPE serves the role of certifying body as well. Other associations either serve professionals in smaller geographic markets,or personal finance is one of several components or topics addressed by the membership.Four associations are comprised
6、 primarily of researchers and academicians.These include the Financial Services Academy(FSA),American Council on Consumer Interests(ACCI),the Eastern Family Economics and Resource Management Association(EFERMA) and its sister organization,Western Family Economics Association(WFEA).Members of the FSA
7、 research financial services and personal finance topics.ACCI members primarily study consumer behavior and economic issues with some focus on personal finance topics.The latter two groups focus heavily on personal finance topics,and participants are primarily graduate students and university facult
8、y. Many associations serve to address,in whole or in part,personal finance by enhancing the capacity of their members to provide counsel and advice to individuals and families,or research personal finance decisions.The Association for Financial Counseling and Planning Education(AFCPE)is unique becau
9、se its membership rolls include both university academicians and researchers,educators and counselors,all of whom focus on improving the financial well-being of individuals and families. History of the Association for Financial Counseling and Planning Education In early 1983,Tahira Hira and Jerry Ma
10、son,two faculty members from leading universities,discussed the need for an organization that “promoted the interests and supported the needs of financial counselors”.The faculty membersprofessional work focused on these issues and their instructional efforts aimed to prepare students to serve consu
11、mers as financial and credit counselors. In the autumn of 1983,over 60 invited participants attended a conference in Provo,Utah,focusing on financial counseling.The conference agenda included discussions exploring the possibility of forming a new association of university faculty and cooperative ext
12、ension educators.Additional talks centered on providing university students with curricula appropriate to serving as professional financial counselors.Out of this meeting,and during a subsequent conference in 1984,the Association for Financial Counseling and Planning Education was born. It was not l
13、ong before association leaders realized that the work of their members had more value in the larger context of increasing the financial well-being of consumers.This motivated association leaders to develop networks with professionals in a variety of occupations who helped individuals and families de
14、velop sound financial management practices.Members of the credit counseling industry and those counseling military members were specifically interested in the association because the synergy among academicians,researchers and practitioners could result in providing more successful programming and co
15、unseling to their clients. During the early 1990s,association leaders identified the need to certify professionals who were providing one-to-one financial counseling or group financial education.Such a certification would(1)develop a corps of professionals to assist individuals and families with per
16、sonal financial issues,(2)enhance and develop best practices,(3)encourage consistency across the range of financial counseling services and(4)signal to the public that an individual financial counseling professional met independently developed standards.A committee of academic researchers,university
17、-based faculty,cooperative extension educators and credit counseling industry leaders convened to develop industry standards,curriculum and examination requirements.The work of researchers and academicians was particularly helpful in identifying the greatest personal financial obstacles and risks co
18、nsumers faced and best practices in delivering educational programming and counseling to the individual client. AFCPEs mission includes building the capacity of its practicing(counseling and educator)members to serve their clientele well.While the practitionerswork is very important to individuals a
19、nd families,it is most likely to be successful when the practitioner employs strategies and practices confirmed through well-designed and implemented research programs.Conversely,researchers should look to practitioners to assist them in developing and prioritizing research questions and projects.An
20、 examination of research and its applicability to the provision of personal finance education and counseling programs to individuals and families is important in increasing the likelihood that programming will result in successful financial management practices. Relating Research to Practice Over th
21、e course of several years,it has become abundantly clear to AFCPEs staff and board of directors that the future of financial counseling and education depends upon the interdependency of research and practice.One current focus of the AFCPE strategic plan includes building this capacity and interweavi
22、ng research programs and practice outcomes.In 2006,the association embarked on a“listening”tour of sorts.Several forums were used to gather information about the current state and future needs of financial education and counseling.These included a survey of members and a conference workshop. In the
23、2006 survey,AFCPE members were asked to choose the“one”financial message consumers most need to hear from counselors and educators.The three most popular responses were(1)prepare a spending plan,(2)reduce debt and (3)save.During a workshop held at its annual conference in 2009 regarding the future o
24、f financial counseling and financial education,participants worked in teams to assemble“then”and“now”posters regarding financial messages,programs,research and program delivery. The Current State of Personal Finance Research The papers provide a good synopsis of the history of research in the field
25、of personal finance.They summarize or employ theories that form the basis for personal finance research,review data that has historically been available to or used by researchers,address Internet delivery of financial vehicles and services and examine consumer finance as it relates to specific popul
26、ations or settings. A perusal of research published in the past 5 years in six journals related to personal finance shows that the overwhelming majority of papers related to personal finance or financial counseling,and planning focused on(1)the relationship between specific demographic or social cha
27、racteristics(e.g.,life cycle stage,income)and a particular financial behavior(e.g.,selecting a certain type of loan,saving money),(2)knowledge(e.g.,about credit cards,savings,vehicles)and a particular financial behavior or(3)optimal behaviors(e.g.,when to take Social Security benefits,assume investm
28、ent risk or a particular mortgage).Israelsen and Hatch noted the lack of family financial management research in two leading family studies journals. Until recently,studies published in economics and finance journals focused heavily on the economic issues of the marketplace,individual decision makin
29、g not directly related to financial decisions or corporate finance topics.Studies related to personal financial management behaviors are beginning to appear in these publications and other journals related to psychology and social work.The Journal of Behavioral Economics and Journal of Economic Psyc
30、hology are dedicated to publishing research related to the interaction between economics and all types of behaviors and market choices. Many of the studies published in journals regarding personal finance analyze data collected through large national surveys.The reliance on information from large da
31、ta sets is practical for several reasons including availability,accessibility,cost and the opportunity to study large populations.Other projects employed localized surveys studying the choices of certain populations.Inherently,these are specific and not necessarily applicable to large populations.On
32、e common element in most of these works is a description of the behaviors of a particular group of respondents and an examination of the differences or similarities(often,demographic)betweens respondents who behaved one way rather than another. Few published papers in personal finance research invol
33、ve the collection and analysis of motivation data;satisfaction with and/or success of specific delivery methods of financial education,counseling or messages;or development of diagnostic tools for practitioner or educator use.However,the results of several research projects did provide results that
34、could easily translate into useful information for a practitioner. A good example of studies that provide results for use in research and practices include Lyons,Cude,Lawrence,and Gutters(2005)project investigating online research methodologies,the results of which are useful in designing survey res
35、earc h programs.A paper written by Mayer,Huh,and Cude(2005)examined the role of cues in assessing web site credibility.The results offer direction in successfully providing financial information to consumers via the Internet.Two papers supported the use of one-to-one counseling.Collins(2007)studied
36、the financial counseling process and its effects on mortgage default.Elliehausen,Lundquist,and Staten(2007) examined the impact of credit counseling on the subsequent behavior of borrowers.Three research papers considered the psychological and emotional aspects of financial management.The Clarke,Hea
37、ton,Israelsen,and Eggett(2005)and Pinto,Pacente,and Mansfield(2005)research examined how financial information,roles and responsibilities were passed from one generation to another and the effect on behavior.A paper studying the link between psychological type using a well-known personality profile
38、scale and financial decision-making was presented by McKenna,Hyllegard,and Linder(2003).Two papers related to diagnosing financial distress and risk tolerance resulted in counseling tools that can be employed by practitioners to better serve their clients. Conclusion During the past decade,for a var
39、iety of reasons,a marked increase in improving the financial literacy of Americans has developed.The media,policymakers and changing landscape of retirement plan programs have all contributed to the increased attention.Government entities,financial institutions and their foundations,community and so
40、cial organizations and specialized financial education foundations serve the public interest through educational programming and research initiatives. The field of personal finance research can play a significant role in fulfilling the needs of consumers,practitioners and policymakers.But,it is at c
41、rossroads.While it is interesting to know what people know and do,it is more important that practitioners understand what motivates a consumer to implement planned behaviors that increase the potential for long-term financial stability and security.In addition,studies that confirm best practices in
42、terms of marketing and delivering financial education and counseling programs and common financial messages would be quite useful to practitioners.Policymakers rely on quality research to inform issues and outcomes. Professional organizations,such as AFCPE,serve the personal finance profession best
43、by uniting professionals with a diversity of perspectives to focus on common issues.Researchers,practitioners and educators,working together,can producen great outcomes from a well-designed national research program.The ultimate goal of a collaborative,interdisciplinary research program is to enhanc
44、e the long-term financial security and stability of individuals and families. 译文 推动个人理财的应用研究 资料来源：金融消费者手册期刊 作者：夏恩 本文 的目的在于简要总结 全国性 专业协会在 引进关于专业金融顾问和教育工作者的优质研究的 作用。 同时，本文还从理财顾问和教育工作者的角度来提供研究内容，即包括对个人理财的简要回顾。 大多数全国性 协会 的存在是为了集中财务 专业人士， 并且为不同地区的市场提供专业的人才、产品或者服务。 为个人理财 业务服务的四个全国性专业 协会 分别 为：财务咨询和规划教育协会 (
45、AFCPE)、 财务 规划 协会 （ FPA） ， 个人理财 顾 问 协会 (NAPFA)和理财规划师标准理事会 (CFP)。前三个协会是 为 了 加强个人专业能力， 而 理财规划师标准理事会的设立 是 为了 发展 和维护金融规划师的认证资格。在提供金融咨询服务的 领域 ， AFCPE也 发挥 了 认证机构 的作用 。 其它地方性 协会 是在 较小 的地方 市场 提供 专业人员、金融服务或者话题讲座。以上 四个 全国性 协会 主要 包括 研究 人员 和院士 。而地方性协会 包括金融服务学院 (FSA)、 美国消费者协会 (ACCI)， 东部家庭经济和资源管理协会 (EFERMA)及其 姐妹 机
46、构 西部家庭经济协会 (WFEA)。 FSA协会 成员 主要研究的是 金融服务 和个人理财规划 。 ACCI 协会 成员主要 研究 消费者行为 和 经济 形势下的个人理财问题 。后 两 个 协会则 更加注重于 个人 理财规划 问题 ， 其 参加者主要 是毕业 研究生和大学 教师 。 很多 协会 或多或少都通过 提高其成员的 专业 能力 ，来 为 个人和家庭提供 专业 咨询 服务和规划。但是 财务咨询和规划教育协会 比较独特 ， 因为它的成员包括大学院士 、 研究人员 、 教育工作者和 咨询师 ， 他们 都 非常注重改善 个人和 家庭的生活福利 。 1 理财咨询和规划教育协会的发展史 在 198
47、3 年 早期 ， 希拉和 梅森 两位 来自著名 高校 的大学教授组织协会 商讨 了该 如何提高和 支持 财务咨询兴趣 。 大学专家主要讨论了一些热点问题，也是为了 培养 更多 的学生提升对金融规划和服务这方面的兴趣 。 在 1983 年秋天， 60 多位 学者 参加了 在 犹他州 举行的关于 金融咨询 服务 的研讨会 ， 大会 讨论 了组织各大学教育者之间进行合作并且成立新协会的可行性。此外还提供各种可行的途径来培养 专业 的 金融 规划师 。本次会议 之后 ， 在 1984年的会议 上 ， 理财 咨询和规划 教育 协会诞生了。 不久之 后 ，协会领导人 意识 到 成员们 在增加 消费者财务
48、稳健上发挥了更大的价值作用。 这个发现促进 了 协会 领导 开始 运用网络来帮助个人和家庭进行理财咨询服务和规划 。 提供 信贷 咨询 服 务的企业对此很感兴趣 ，因为 通过 该 协会成员的帮助可让企业向广大消费者 提供 更具盈利性的项目。 在 20 世纪 90 年代初期，协会领导 人 确定 有必要 对 提供一对一 服务的专业人员进行资格认证 。 资格认证机构的设立将发展一大 批 为个人和家庭提供个人理财服务的专业人员，同时能提高理财人员的实践能力，并且可向公众保证专业人员在该方面的专业度。 AFCPE协会的任务是 加强 其 从业人 员的能力 ，并帮助专员 为他们 的客户服务周到。个人理财对
49、个人和 家庭来说 是非常重要的 ， 专员们 通过 专业方式资产进行全新的整理和规划来对资产进行升值保值 。 而且 研究者 应该 和专员进行合作来帮助客户 制订 更好的财产规划和服务 。 2 相关的实践研究 在 几 十 年 的发展道路上 ， AFCPE的协会成员和董事会都很清楚认识到 ，金融咨询 和教育 的未来取决于研究和实践的相关性。 AFCPE战略计划 中 的一 个 当前热点问题 包括 如何提高 研究 理论 和实践结果 这两者之间相关度的能力 。 2006年，协会开展了 听众会 。 一些 讨论会 经常 搜集 很多 有关当前 和未来金融教育 和咨询 服务的资料 。这些 资料 包括 了多次 研讨会 的调查报告。 在 2006 的调查报告中， AFCPE 成员 必须被对 消费者 提出的任何问题进行逐一解答 ，这些消费者大多 也 收到 了咨询专家 和教育家的 解答 。三 个最 普遍的话题主要体现在 消费计划 、 减少债务和 节省开支 这几个方面 。 在 2009 年 一年一度举行的研讨会上， 当 涉及到 未来 金融咨询和金融教育的问题时 ， 成员 们 在 金融政策 、研究 项目 等问题
