Dr. Lance's Academic Research

Where Experience Meets Evidence.

Dr. Lance's doctoral research examined an important question: Does working with a financial advisor make a measurable difference in financial success?

Planning for retirement is how we make sure we can enjoy a comfortable life after we stop working. However, most people do not have the specialized knowledge or skills (called "human capital") to make the best financial choices on their own. To make things harder, even when people want to learn, they often do not know who to trust for good financial advice.

My research looked at what actually helps people feel financially successful, specifically focusing on whether having a financial advisor makes a difference.

Why Research Matters

Financial planning is an applied science. It takes knowledge from economics, finance, psychology, behavioral science, taxation, and other disciplines and applies that knowledge to real people's financial decisions.

More specifically, the most important takeaway from my study is that hiring a financial advisor can genuinely improve your financial well-being. Because money management is complicated, choosing to work with an expert is a reliable step toward feeling more secure and successful with your money.

The Impact of Using a Financial Advisor on Financial Success v07082026.pdf