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DENVER (April 17, 2018) –  The Financial Planning Association® (FPA®) is pleased to announce Derek R. Lawson, CFP® and Bradley T. Klontz, Psy.D., CFP® as the recipients of the 2018 Montgomery-Warschauer Award for their July 2017 Journal of Financial Planning paper, "Integrating Behavioral Finance, Financial Psychology, and Financial Therapy into the 6-Step Financial Planning Process."

Now in its seventh year, the Montgomery-Warschauer Award honors the paper published in the Journal of Financial Planning that provided the most outstanding contribution to the betterment of the profession in the preceding year. This award is named for the late Henry Montgomery, who helped create the Journal, and Tom Warschauer, the Journal's first academic editor.

Winners are selected based on nominations by the Journals' editorial staff, including the practitioner and academic editors, along with votes of the Journal's Editorial Advisory Board. The award will be presented to Lawson and Klontz at the 2018 FPA Annual Conference Oct. 3-5, 2018 in Chicago.

The paper authored by Lawson and Klontz emphasizes the importance of integrating behavioral finance, financial psychology, and financial therapy theories and tools into the financial planning process to help clients change behaviors, reduce stress and anxiety, and embrace change. Illustrations within each step of the financial planning process demonstrate the powerful effect behavioral finance has when applied in practice. The paper also asserts that incorporating these principles into a holistic plan results in an improved financial planning experience for both clients and practitioners and increases the chances of clients satisfying financial planner recommendations.

"Lawson and Klontz have provided a robust framework for integrating the tools and insights of the 'interior dimension' into the formal steps of the financial planning process," says the Journal's practitioner editor, Dr. Dave Yeske, CFP®. "Their framework encompasses various theoretical approaches to understanding and engaging clients at the level of thoughts and emotions, as well as effective tools for facilitating appropriate action. This practical paper offers a robust foundation for practicing Financial Life Planning."

Derek R. Lawson, CFP®, is a doctoral candidate in personal financial planning at Kansas State University and a financial planner at Priority Financial Partners. His research is practitioner focused, allowing him to combine his past and present experience as a financial planner with his research interests on relationship dynamics, physiological stressors, financial therapy, behavioral finance and consumption decisions with a primary focus of younger adults. His work has been published in the Journal of Financial Planning, Financial Services Review, and the Journal of Financial Therapy, and he has co-authored several book chapters. Lawson previously served as the FPA NexGen secretary, the FPA of Greater Kansas City NexGen Director, treasurer of the Financial Therapy Association, and the marketing coordinator for NAPFA Genesis.

Bradley T. Klontz, Psy.D., CFP® is an expert in the science and the practice of financial psychology, financial planning, and applied behavioral finance. He is an Associate Professor of Practice at Creighton University's Heider College of Business, co-founder of the Financial Psychology Institute™, and a managing principal at Your Mental Wealth Advisors™. Dr. Klontz is co-author/co-editor of Facilitating Financial Health (NUCO, 2016), Financial Therapy (Springer, 2015), Mind Over Money (Broadway Business, 2009), Wired for Wealth (HCI, 2008) and The Financial Wisdom of Ebenezer Scrooge (HCI, 2008).

"Every financial planner can benefit from this article," says Journal academic editor, Barbara O'Neill, Ph.D., CFP®, CRPC. "It methodically provides readers with a roadmap on how to incorporate financial psychology principles into the financial planning process."

Lawson and Klontz will present the award-winning research at the 2018 FPA Annual Conference and FPA will make a $1,000 donation that will be shared between the Financial Hope Collaborative (FHC) affiliated with Creighton University's Heider College of Business and Kansas State University's Institute of Personal Financial Planning.


About the Financial Planning Association
The Financial Planning Association® (FPA®) is the principal professional organization for CERTIFIED FINANCIAL PLANNERTM (CFP®) professionals, educators, financial services professionals and students who seek advancement in a growing, dynamic profession. Through a collaborative effort to provide more than 23,000 members with One ConnectionTM to tools and resources for professional development, business success, advocacy and community, FPA is the indispensable force in the advancement of today's CFP® professional. Learn more about FPA at and follow on Twitter at

About the Journal of Financial Planning
First published in 1979, the mission of the Journal of Financial Planning is to expand the body of knowledge of the financial planning profession. With monthly feature articles, interviews, columns, and peer-reviewed technical contributions, the Journal's content is dynamic, innovative, thought-provoking, and directly beneficial to financial planners in their work. Learn more at ​