The Journal of Financial Therapy recently published an article about the Direct and Indirect Effects of Subjective Financial Knowledge with Financial Satisfaction. For this study, subjective financial knowledge was defined as confidence in personal financial knowledge, compared to objective financial knowledge defined as actual financial knowledge. They found that subjective financial knowledge influences financial satisfaction, even while controlling for objective financial knowledge.
How do your clients feel about their financial knowledge? Are you helping your clients feel confident in their financial knowledge? Is your education individualized, or does it follow a single strategy?