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2014 Eleventh Annual Institute For
Emotional Intelligence
McClellan Community College
Waco, TX
Feb 2014

Dr. Andree C. Swa...


How we met



Brainstorming ideas



Starting from scratch
The Code of Ethics and Professional
Responsibility of the Certified Financial Planner

Board of Standards sets forth three...
Researchers sought to discern if there was a

need among CERTIFIED FINANCIAL
PLANNER™ practitioners for a better

understa...
The outcome of the research demonstrated
that there is a need for emotional intelligence

training.


The capacity to…
 perceive emotions,
 assimilate emotion-related feelings,
 understand the information of those emot...


The CERTIFIED
FINANCIAL
PLANNER™
designation is
recognized as the
“Gold Standard” of the
financial planning
industry wh...


Within the Code of Ethics and Professional
Responsibility of the Certified Financial Planner Board

of Standards, high ...


Within three of the seven principles of the
Code are indications that suggest

practitioners possess or obtain a high l...




The significance of this study relates directly
back to the Code of Ethics and Professional
Responsibility of the Ce...


Many studies have been published on how
individuals with high emotional intelligence
can enhance and increase the poten...


The completion of this study could benefit the
field of financial planning and in a greater sense

may significantly ch...
SurveyMonkey


Conducted a pilot
study



Conducted a survey



Used Survey Monkey



Analyzed results



Published data


Surveyed 36 Certified
Financial Planners
 Feb 2013

 23 males
 12 females
▪ 1 skipped this question
Years in the CFP Field

1 - 3 years = 3
4 – 9 years = 12
10 – 14 years = 7
15 – 19 years = 5
20 or over = 8

(Swanson & Br...
Number of CFPs who
have heard of EI

24 of 36 (66.7%) had

heard of emotional
intelligence

12 (33.0%) had a clear
underst...
CFPs who have a clear
understanding of EI

14 (38.9%) strongly agreed
or agreed
9 (25.0%) participants
strongly disagreed ...
Believe EI will be
useful

29 (80.6%) strongly
agree or agreed that
EI would be useful in
their work as a
financial planne...
Believe EI will improve
their performance

30 (83.4%) of the 36
participants strongly
agree or agreed that
EI would improv...


Principle 2 – Objectivity
 “Provide professional services objectively”



Principle 3 – Competence
 “Maintain the kn...
Based on the CFP Board of Ethics statements
on the previous slide
and
 The results of the survey show that…


 CFPs are...
http://www.uws.edu.au/bioelectronics_neuroscience/bens/postgraduate


Investigate the
appropriate level of
emotional intelligence

needed to become a
better Certified Financial
Planner™ pra...


Conduct a qualitative
Delphi study to assess,
through the use of expert

CFPs (identified in this
study), the appropria...
Seek permission from
the Certified Financial
Board to use their
membership as a
resource
 Apply this to other
countries
...
http://www.forskningsradet.no/servlet/Satellite?c=Nyhet&pagename=nanomat%2FHovedsidemal&c
id=1253969771853
97% experienced a
situation with an
emotional distraught
client.
 75% desire Emotional
Intelligence as part of a
continui...
The results of this survey strongly indicate
that further study and training for financial
planners is not only warranted ...
Dr. Andree Swanson and Randy Braidfoot


Andree Swanson is an assistant professor with the Forbes School of
Business at Ashford University (Denver, Colorado) an...


Randy Braidfoot is a securities principal and CFP® practitioner with over
26 years of experience. He holds a Master of ...


Certified Financial Planner Board of Standards Inc (CFPBS).
(2013). Code of Ethics and Professional Responsibility.
Cer...


Braidfoot, R., & Swanson, A. (2013, Jan). Emotional intelligence of
financial planners in mediation. Global Conference ...
Emotional Intelligence in Financial Planning
Emotional Intelligence in Financial Planning
Emotional Intelligence in Financial Planning
Emotional Intelligence in Financial Planning
Emotional Intelligence in Financial Planning
Emotional Intelligence in Financial Planning
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Emotional Intelligence in Financial Planning

  1. 1. 2014 Eleventh Annual Institute For Emotional Intelligence McClellan Community College Waco, TX Feb 2014 Dr. Andree C. Swanson, EdD, MHR, MAOM Forbes College of Business at Ashford University Randy Braidfoot, MS, CFP®, CDFA™,MPASSM Director of the Dispute Resolution Center, a department of the Panhandle Regional Planning Commission
  2. 2.  How we met  Brainstorming ideas  Starting from scratch
  3. 3. The Code of Ethics and Professional Responsibility of the Certified Financial Planner Board of Standards sets forth three principles that clearly identify the requirement to possess or obtain a high level of emotional intelligence.
  4. 4. Researchers sought to discern if there was a need among CERTIFIED FINANCIAL PLANNER™ practitioners for a better understanding of emotional intelligence so they could better fulfill the requirements of the Code requirements.
  5. 5. The outcome of the research demonstrated that there is a need for emotional intelligence training.
  6. 6.  The capacity to…  perceive emotions,  assimilate emotion-related feelings,  understand the information of those emotions  manage them (Mayer et al., 1999)
  7. 7.  The CERTIFIED FINANCIAL PLANNER™ designation is recognized as the “Gold Standard” of the financial planning industry when it comes to being a competent planner.
  8. 8.  Within the Code of Ethics and Professional Responsibility of the Certified Financial Planner Board of Standards, high principles are established to maintain the professionalism and integrity of the certification marks (CFPBS, 2013).
  9. 9.  Within three of the seven principles of the Code are indications that suggest practitioners possess or obtain a high level of emotional intelligence to meet the Code requirements (CFPBS, 2013).
  10. 10.   The significance of this study relates directly back to the Code of Ethics and Professional Responsibility of the Certified Financial Planner Board of Standards, Inc. Competence includes:  the wisdom to recognize the limitations of that knowledge  referring to another professional when necessary.
  11. 11.  Many studies have been published on how individuals with high emotional intelligence can enhance and increase the potential for positive outcomes.
  12. 12.  The completion of this study could benefit the field of financial planning and in a greater sense may significantly change the landscape of communications and relationships in both business and academia as a whole.
  13. 13. SurveyMonkey
  14. 14.  Conducted a pilot study  Conducted a survey  Used Survey Monkey  Analyzed results  Published data
  15. 15.  Surveyed 36 Certified Financial Planners  Feb 2013  23 males  12 females ▪ 1 skipped this question
  16. 16. Years in the CFP Field 1 - 3 years = 3 4 – 9 years = 12 10 – 14 years = 7 15 – 19 years = 5 20 or over = 8 (Swanson & Braidfoot, 2013, p. 4)
  17. 17. Number of CFPs who have heard of EI 24 of 36 (66.7%) had heard of emotional intelligence 12 (33.0%) had a clear understanding of the meaning of emotional intelligence. (Swanson & Braidfoot, 2013, p. 4)
  18. 18. CFPs who have a clear understanding of EI 14 (38.9%) strongly agreed or agreed 9 (25.0%) participants strongly disagreed or disagreed that they understood emotional intelligence. 15 (41.7%) participants were neutral. (Swanson & Braidfoot, 2013, p. 5)
  19. 19. Believe EI will be useful 29 (80.6%) strongly agree or agreed that EI would be useful in their work as a financial planner. The blue and orange section depict those that strongly agree (orange) and agree (blue). (Swanson & Braidfoot, 2013, p. 5)
  20. 20. Believe EI will improve their performance 30 (83.4%) of the 36 participants strongly agree or agreed that EI would improve their performance. The blue and orange section depict those that strongly agree (orange) and agree (blue). (Swanson & Braidfoot, 2013, p. 5)
  21. 21.  Principle 2 – Objectivity  “Provide professional services objectively”  Principle 3 – Competence  “Maintain the knowledge and skill necessary to provide professional services competently”  Principle 4 – Fairness  “Be fair and reasonable in all professional relationships. Disclose conflicts of interest” (Swanson & Braidfoot, 2013, pp. 1 -2)
  22. 22. Based on the CFP Board of Ethics statements on the previous slide and  The results of the survey show that…   CFPs are aware of Emotional Intelligence (EI)  CFPs understand that learning more about EI will benefit them A need exists to implement EI training in the field of financial planning.
  23. 23. http://www.uws.edu.au/bioelectronics_neuroscience/bens/postgraduate
  24. 24.  Investigate the appropriate level of emotional intelligence needed to become a better Certified Financial Planner™ practitioner. (Swanson & Braidfoot, 2013, p. 8)
  25. 25.  Conduct a qualitative Delphi study to assess, through the use of expert CFPs (identified in this study), the appropriate levels of training required in emotional intelligence. (Swanson & Braidfoot, 2013, p. 8)
  26. 26. Seek permission from the Certified Financial Board to use their membership as a resource  Apply this to other countries  (Swanson & Braidfoot, 2013, p. 8)
  27. 27. http://www.forskningsradet.no/servlet/Satellite?c=Nyhet&pagename=nanomat%2FHovedsidemal&c id=1253969771853
  28. 28. 97% experienced a situation with an emotional distraught client.  75% desire Emotional Intelligence as part of a continuing education program.   Over 85% positive response was received to the question on establishing Emotional Intelligence as part of the primary curriculum for financial planners. (Swanson & Braidfoot, 2013, p. 8)
  29. 29. The results of this survey strongly indicate that further study and training for financial planners is not only warranted but may be considered essential in the framework of being a competent planner. (Swanson & Braidfoot, 2013, p. 8)
  30. 30. Dr. Andree Swanson and Randy Braidfoot
  31. 31.  Andree Swanson is an assistant professor with the Forbes School of Business at Ashford University (Denver, Colorado) and adjunct associate professor with the College for Financial Planning (Greenwood Village, Colorado).  Dr. Swanson holds a Doctorate in educational leadership and a Master of Arts in organizational management from the University of Phoenix.  She also holds a Master of Human Relations from the University of Oklahoma where she first learned of emotional intelligence. Her work experience ranges from office management to corporate training to higher education.  She has worked for the US government (DoD, USAF, & USA), corporations, and higher education.
  32. 32.  Randy Braidfoot is a securities principal and CFP® practitioner with over 26 years of experience. He holds a Master of Science in personal financial planning from the College for Financial Planning and a Bachelor of Arts in mass communications from West Texas A&M University.  Randy also holds the Certified Divorce Financial Analyst designation. Braidfoot is considered a “subject matter expert” for the Certified Financial Planner Board of Standards where he reviews and creates test questions that are used on the certification test. He is the Director of the Dispute Resolution Center, a department of the Panhandle Regional Planning Commission, providing mediation services for the judiciary courts of the top 16 Texas counties .  In 2011, he was honored as the Mediator of the Year. He has also trained and worked as a mediator for the Texas Department of Criminal Justice and as a financial specialist in collaborative law cases.
  33. 33.  Certified Financial Planner Board of Standards Inc (CFPBS). (2013). Code of Ethics and Professional Responsibility. Certified Financial Planner Board of Standards Inc. Retrieve from http://www.cfp.net/learn/codeofethics.asp  Swanson, A., & Braidfoot, R. (2013). An Assessment of Emotional Intelligence Understanding in the Field of Financial Planning. Internet session presented at the 2013 Summer Global Conference on Business and Finance (GCBF), Costa Rica.
  34. 34.  Braidfoot, R., & Swanson, A. (2013, Jan). Emotional intelligence of financial planners in mediation. Global Conference on Business and Finance Proceedings, 8(1), 378-385. Retrieved January 5, 2013 from http://www.theibfr.com/proceedings.htm  Braidfoot, R. B., & Swanson, A. C. (2013, Jan). Emotional intelligence of financial planners in mediation. Internet session presented at the 2013 Winter Global Conference on Business and Finance (GCBF), Las Vegas, NV  Braidfoot, R., & Swanson, A. (2012, Sep). White Paper -- Emotional Intelligence of Financial Planners. College for Financial Planning, Greenwood Village, CO. http://www.cffpinfo.com/eBooks/Emot_Int.pdf

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