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The CFP Board Center for Financial Planning is pleased to announce the recipients of the 2019 Best Paper Awards that were presented last week in Arlington, Va. during the Center’s third annual Academic Research Colloquium for Financial Planning and Related Disciplines.

  • The TD Ameritrade Best Paper Award in Behavioral Finance – Jonathan Huntley and Felix Reichling, both of Wharton School, University of Pennsylvania, and Valentina Michelangeli of Bank of Italy, for “Chasing Returns in Retirement Accounts: Do Learning, Literacy, and Experience Matter?”
  • The Northwestern Mutual Best Paper Award in Insurance/Risk Management – Steven Lee and Benjamin F. Cummings, both of The American College of Financial Services, and Jason Martin of Swarthmore College, for "Victim Characteristics of Investment Fraud"
  • The Emerging Scholar Best Paper Award – Ioannis Branikas of Lundquist College of Business, University of Oregon, for "Advertising Exposure and Portfolio Choice: Estimates Based on Sports Sponsorships"
  • The Best Paper Award in Investments – Lauren Cohen and Christopher Malloy, both of Harvard Business School, Harvard University, and Quoc Nguyen of DePaul University, for "Lazy Prices"
  • The Best Paper Award in Household Finance ­­– Vikas Agarwal, Hadiye Aslan, Lixin Huang, and Honglin Ren of J. Mack Robinson College of Business, Georgia State University, for "Policy Uncertainty and Household Stock Market Participation"

A full list of 2019 accepted papers is available here.  

“There were many strong paper submissions to the 2019 Academic Research Colloquium, but the committee felt that these particular research papers were exceptional,” said Charles Chaffin, Ed.D., Director of Academic Initiatives, CFP Board Center for Financial Planning. “They are a solid representation of the depth and breadth of research presented at the Colloquium. Congratulations to each of the winners.”

The Best Paper series of awards recognizes authors from a variety of disciplines and sub-disciplines that relate to financial planning. The award carries a $2,500 cash prize for the author(s) of each winning paper. 

The colloquium gathers the global academic community to showcase rigorous and relevant research within financial planning and related disciplines that directly or indirectly relates to the global financial planning practice and the body of knowledge. The CFP Board Center for Financial Planning hosts the colloquium in collaboration with the Canadian-based Financial Planning Standards Council and the Financial Planning Standards Board Ltd., owner of the international CERTIFIED FINANCIAL PLANNER certification program outside the United States.


Certified Financial Planner Board of Standards, Inc. is the professional body for personal financial planners in the U.S. CFP Board sets standards for financial planning and administers the prestigious CFP® certification – one of the most respected certifications in financial services – so that the public has access to and benefits from competent and ethical financial planning. CFP Board, along with its Center for Financial Planning, is committed to increasing the public’s awareness of CFP® certification and access to a diverse, ethical and competent financial planning workforce. Widely recognized by firms and consumer groups as the standard for financial planning, CFP® certification is held by more than 83,000 people in the United States.


Dan Drummond, Director of Communications
Mobile: 202-243-8621

About the CFP Board center for financial planning

The CFP Board Center for Financial Planning seeks to create a more diverse and sustainable financial planning profession so that every American has access to competent and ethical financial planning advice. The Center brings together CFP® professionals, firms, educators, researchers and experts to address profession-wide challenges in the areas of diversity and workforce development, and to build an academic home that offers opportunities for conducting and publishing new research that adds to the financial planning body of knowledge


Jessica Lewis
Communications Specialist
Mobile: 301-655-0389