Academics Receive Awards for Research Advancing Financial Planning

The Financial Planning Association and the “Journal of Financial Planning” announced that three academic researchers have earned the 2024 Best Research Award for their contributions to advancing financial planning practitioners and the profession.

The 2024 winners, announced earlier this month, are David Blanchett, portfolio manager and head of retirement research at PGIM DC Solutions; Kristy Archuleta, professor at University of Georgia Financial Planning; and Timothy Todd, dean of Liberty University School of Law.

Blanchett was recognized together with Michael Finke, professor of wealth management at The American College of Financial Services, for their work about retirement consumption optimization.

Their research entitled “Retirees Spend Lifetime Income, Not Savings” demonstrated how retirees are more willing to spend from lifetime income than other potential funding sources like capital income, labor income, qualified savings and nonqualified savings. The report suggested that allocating savings to lifetime income can give households a “license to spend” in retirement.

Archuleta and Todd were recognized for their work describing conceptual frameworks to help planners distinguish between financial stress and financial anxiety. Their presentation, “Let’s Talk About Financial Stress and Anxiety: Is There a Difference?” explained how financial stress and anxiety are important to financial planners’ ability to assess their clients’ needs.

“Each year, FPA takes great pride in showcasing groundbreaking research at our Annual Conference and within the ‘Journal of Financial Planning,’ which enriches the knowledge base of our profession,” said 2025 FPA President Paul Brahim, in a statement. “The exceptional researchers we honor have produced innovative studies that empower practitioners to stay at the forefront of the profession and enable them to meet their clients’ needs effectively.”

Following a call for papers last spring, the researchers were invited to present their work at the FPA Annual Conference 2024 in Columbus, Ohio from September 18 to 20, 2024.

Presenters at the FPA Annual Conference were selected from submissions during the call for papers, and Best Research winners were selected from among the presenters for their work’s contribution to the profession.