The center encourages research into individual and family finance and into professional financial planning. It attempts to further the ability of financial counselors and planners to provide advice that aids individual and families in achieving financial objectives.
The theoretical base of decision-making criteria for personal financial decisions is weak and sometimes non-existent. In many cases, individuals, families, and their financial planners and advisers make important decisions that have little or no theoretical foundation. The finance discipline – as taught at the university-level – has grown around corporate decision-making, not decisions of the household.
The development of an emerging financial planning profession has made this lack of theoretical basis evident. The Center is founded on the belief that there is a significant need for scholars to share their ideas and mutually develop their research thoughts, for financial reporters to bring the practical application of this work to the attention of professionals and the public, and for students engaged in the study of financial planning to be aware of the latest findings of researchers engaged in this field.