Investigating the relationship between processes and profit: A work-based assessment of process used in Australian financial planning firms

Article

Neilson, Ben. 2024. "Investigating the relationship between processes and profit: A work-based assessment of process used in Australian financial planning firms." The Journal of Finance and Data Science. 10. https://doi.org/10.1016/j.jfds.2024.100128
Article Title

Investigating the relationship between processes and profit: A work-based assessment of process used in Australian financial planning firms

Article CategoryArticle
AuthorsNeilson, Ben
Journal TitleThe Journal of Finance and Data Science
Journal Citation10
Article Number100128
Number of Pages132
Year2024
PublisherKeAi Publishing Communications Ltd.
Place of PublicationChina
ISSN2405-9188
Digital Object Identifier (DOI)https://doi.org/10.1016/j.jfds.2024.100128
Web Address (URL)https://www.sciencedirect.com/science/article/pii/S2405918824000138
AbstractThe research explores relationship dynamics between process and profit in Australian professional practise. We analyse data collected from 134 financial planning firms located in Southeast Queensland as a sample size. The research introduces a complete financial planning process framework designed to measure the impact that process may have on the relationship with firm profit. Quantitative profit data was recorded using Dovetail software to capture results and evidence regression between groups. The research found that firms’ processes are positively associated with profit, and both process and profit contribute to the decreasing influence of firm agency theory. The research suggests that process could be leveraged as an asset to develop commercial advantages. The research may help identify new measures of standard practise, develop the perception of Australian financial firms and assist to reduce barriers of accessing financial services.
KeywordsAgency Theory; Process; Profit; Financial planning
Contains Sensitive ContentDoes not contain sensitive content
ANZSRC Field of Research 2020380107. Financial economics
Byline AffiliationsUniversity of Southern Queensland
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